STMicroelectronics (NYSE:STM) Price Target Raised to $30.00

STMicroelectronics (NYSE:STM - Free Report) had its target price boosted by TD Cowen from $23.00 to $30.00 in a research report report published on Friday morning, MarketBeat.com reports. They currently have a hold rating on the semiconductor producer's stock.

STM has been the subject of a number of other research reports. Jefferies Financial Group upgraded STMicroelectronics from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of STMicroelectronics in a research note on Friday, April 25th. Morgan Stanley raised shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a report on Thursday, February 13th. Finally, Dbs Bank lowered shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $31.97.

STMicroelectronics Stock Performance

Shares of NYSE STM traded up $0.49 during trading hours on Friday, hitting $29.67. 6,836,562 shares of the company's stock were exchanged, compared to its average volume of 7,542,233. The company's 50-day moving average price is $24.15 and its 200-day moving average price is $24.41. STMicroelectronics has a 1-year low of $17.25 and a 1-year high of $43.35. The stock has a market capitalization of $26.64 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.16 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.55 billion. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. On average, sell-side analysts expect that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.36 dividend on an annualized basis and a yield of 1.21%. STMicroelectronics's payout ratio is 25.42%.

Hedge Funds Weigh In On STMicroelectronics

Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC raised its holdings in STMicroelectronics by 148.4% during the 1st quarter. Acadian Asset Management LLC now owns 5,650,244 shares of the semiconductor producer's stock worth $124,055,000 after purchasing an additional 3,375,428 shares during the last quarter. Invesco Ltd. grew its position in shares of STMicroelectronics by 188.1% during the 1st quarter. Invesco Ltd. now owns 5,093,785 shares of the semiconductor producer's stock worth $111,860,000 after buying an additional 3,325,998 shares during the period. JPMorgan Chase & Co. raised its stake in shares of STMicroelectronics by 131.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer's stock worth $85,232,000 after buying an additional 1,939,088 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in STMicroelectronics by 576.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer's stock valued at $47,962,000 after buying an additional 1,636,707 shares during the period. Finally, Analog Century Management LP bought a new position in STMicroelectronics in the first quarter valued at approximately $34,912,000. Institutional investors and hedge funds own 5.05% of the company's stock.

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.