Susquehanna Cuts STMicroelectronics (NYSE:STM) Price Target to $35.00

STMicroelectronics (NYSE:STM) had its target price decreased by Susquehanna from $45.00 to $35.00 in a research note issued to investors on Monday, Benzinga reports. Susquehanna currently has a positive rating on the semiconductor producer’s stock.

A number of other analysts also recently commented on the stock. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. TD Cowen cut their price objective on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 26th. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Morgan Stanley lowered STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Finally, Craig Hallum decreased their price target on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, STMicroelectronics has an average rating of “Moderate Buy” and a consensus price target of $39.80.

STMicroelectronics Trading Up 0.7 %

STMicroelectronics stock opened at $27.88 on Monday. STMicroelectronics has a 12-month low of $26.63 and a 12-month high of $51.27. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. The stock has a market capitalization of $25.19 billion, a PE ratio of 7.15, a price-to-earnings-growth ratio of 3.44 and a beta of 1.57. The firm has a 50 day simple moving average of $29.14 and a 200-day simple moving average of $36.09.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The firm’s quarterly revenue was down 25.3% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. As a group, equities research analysts expect that STMicroelectronics will post 1.63 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.29%. STMicroelectronics’s dividend payout ratio is 7.69%.

Institutional Trading of STMicroelectronics

Several institutional investors have recently made changes to their positions in STM. Fisher Asset Management LLC lifted its position in STMicroelectronics by 37.8% in the 4th quarter. Fisher Asset Management LLC now owns 9,131 shares of the semiconductor producer’s stock worth $458,000 after buying an additional 2,505 shares in the last quarter. Mather Group LLC. acquired a new position in shares of STMicroelectronics in the first quarter worth $28,000. Ballentine Partners LLC raised its holdings in shares of STMicroelectronics by 14.1% during the first quarter. Ballentine Partners LLC now owns 10,536 shares of the semiconductor producer’s stock worth $456,000 after acquiring an additional 1,298 shares in the last quarter. Capital Advisors Wealth Management LLC boosted its position in STMicroelectronics by 8.2% during the first quarter. Capital Advisors Wealth Management LLC now owns 4,822 shares of the semiconductor producer’s stock valued at $209,000 after purchasing an additional 365 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in STMicroelectronics by 41.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,026 shares of the semiconductor producer’s stock worth $520,000 after purchasing an additional 3,542 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.