STMicroelectronics (NYSE:STM) Receives $43.13 Consensus Target Price from Brokerages

STMicroelectronics (NYSE:STM) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $43.13.

Several brokerages have recently weighed in on STM. The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and increased their target price for the company from $35.50 to $45.80 in a research note on Tuesday, June 18th. TD Cowen reduced their target price on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Sanford C. Bernstein reduced their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, Craig Hallum reduced their price target on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in STM. Van ECK Associates Corp increased its position in STMicroelectronics by 55.3% during the 1st quarter. Van ECK Associates Corp now owns 5,800,911 shares of the semiconductor producer’s stock valued at $250,831,000 after purchasing an additional 2,065,387 shares during the period. Dimensional Fund Advisors LP grew its position in shares of STMicroelectronics by 177.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after buying an additional 1,478,213 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of STMicroelectronics by 1,564,831.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after buying an additional 1,079,734 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of STMicroelectronics by 337.8% in the 4th quarter. Quadrature Capital Ltd now owns 510,834 shares of the semiconductor producer’s stock worth $25,561,000 after buying an additional 394,147 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of STMicroelectronics by 128.1% in the 2nd quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock worth $25,469,000 after buying an additional 364,184 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

STMicroelectronics stock opened at $28.59 on Monday. The company has a market cap of $25.83 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 3.36 and a beta of 1.58. The firm’s fifty day moving average is $33.37 and its 200 day moving average is $39.25. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17. STMicroelectronics has a 52-week low of $27.44 and a 52-week high of $51.27.

STMicroelectronics (NYSE:STM) last released 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. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. STMicroelectronics’s revenue was down 25.3% on a year-over-year basis. Sell-side analysts forecast that STMicroelectronics will post 1.66 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. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is 7.69%.

About STMicroelectronics

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.