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

STMicroelectronics (NYSE:STM - Free Report) had its target price upped by TD Cowen from $23.00 to $30.00 in a research note published on Friday morning, Marketbeat.com reports. The firm currently has a hold rating on the semiconductor producer's stock.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of STMicroelectronics in a report on Friday, April 25th. Morgan Stanley upgraded shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a research note on Thursday, February 13th. Dbs Bank downgraded STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group upgraded STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $31.97.

STMicroelectronics Stock Down 2.4%

STM traded down $0.71 during trading on Friday, reaching $29.20. 7,875,926 shares of the stock traded hands, compared to its average volume of 5,984,393. The stock has a market cap of $26.23 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. The stock's 50-day simple moving average is $23.92 and its two-hundred day simple moving average is $24.40. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $43.35. 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 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 return on equity of 8.92% and a net margin of 11.74%. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.55 billion. As a group, equities research analysts expect that STMicroelectronics will post 0.85 EPS for the current year.

STMicroelectronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors 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 dividend yield of 1.23%. STMicroelectronics's dividend payout ratio is 25.42%.

Hedge Funds Weigh In On STMicroelectronics

Several institutional investors and hedge funds have recently made changes to their positions in STM. Callan Family Office LLC acquired a new stake in shares of STMicroelectronics in the 4th quarter valued at about $486,000. Raymond James Financial Inc. acquired a new stake in STMicroelectronics in the 4th quarter valued at approximately $1,738,000. Schechter Investment Advisors LLC acquired a new stake in STMicroelectronics in the 4th quarter valued at approximately $758,000. Aigen Investment Management LP lifted its stake in STMicroelectronics by 100.5% in the 4th quarter. Aigen Investment Management LP now owns 77,986 shares of the semiconductor producer's stock valued at $1,947,000 after acquiring an additional 39,082 shares in the last quarter. Finally, US Bancorp DE boosted its position in STMicroelectronics by 54.9% during the 4th quarter. US Bancorp DE now owns 67,969 shares of the semiconductor producer's stock worth $1,697,000 after acquiring an additional 24,096 shares during the last quarter. 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.