STMicroelectronics (NYSE:STM - Free Report) had its target price boosted by Susquehanna from $30.00 to $40.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor producer's stock.
A number of other research analysts have also recently weighed in on the stock. Robert W. Baird raised shares of STMicroelectronics from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $23.00 to $50.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of STMicroelectronics in a research note on Friday, April 25th. TD Cowen raised their price objective on shares of STMicroelectronics from $23.00 to $30.00 and gave the stock a "hold" rating in a research note on Friday, June 13th. Dbs Bank lowered shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Oddo Bhf raised shares of STMicroelectronics to an "outperform" rating in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.
View Our Latest Stock Report on STMicroelectronics
STMicroelectronics Stock Down 5.1%
Shares of NYSE STM traded down $1.71 during mid-day trading on Tuesday, reaching $31.71. The company had a trading volume of 17,490,881 shares, compared to its average volume of 6,434,856. The company has a current ratio of 3.05, a quick ratio of 2.24 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $29.07 and a two-hundred day simple moving average of $25.45. The stock has a market cap of $28.48 billion, a P/E ratio of 26.87, a PEG ratio of 1.96 and a beta of 1.60. STMicroelectronics has a 52-week low of $17.25 and a 52-week high of $40.55.
STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. STMicroelectronics had a net margin of 8.94% and a return on equity of 6.28%. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.55 billion. Sell-side analysts predict that STMicroelectronics will post 0.85 earnings per share for the current year.
STMicroelectronics Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.36 annualized dividend and a yield of 1.14%. STMicroelectronics's dividend payout ratio is currently 26.27%.
Institutional Investors Weigh In On STMicroelectronics
A number of large investors have recently added to or reduced their stakes in STM. Farther Finance Advisors LLC grew its holdings in STMicroelectronics by 139.6% during the 1st quarter. Farther Finance Advisors LLC now owns 1,862 shares of the semiconductor producer's stock worth $41,000 after acquiring an additional 1,085 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in STMicroelectronics by 63.1% in the first quarter. Smartleaf Asset Management LLC now owns 2,167 shares of the semiconductor producer's stock worth $48,000 after purchasing an additional 838 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in STMicroelectronics by 396.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,197 shares of the semiconductor producer's stock worth $70,000 after acquiring an additional 2,553 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of STMicroelectronics by 57.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,322 shares of the semiconductor producer's stock worth $73,000 after purchasing an additional 1,209 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of STMicroelectronics by 184.5% in the second quarter. GAMMA Investing LLC now owns 2,848 shares of the semiconductor producer's stock worth $87,000 after acquiring an additional 1,847 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.
About STMicroelectronics
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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.
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