STMicroelectronics (NYSE:STM) Raised to Buy at StockNews.com

StockNews.com upgraded shares of STMicroelectronics (NYSE:STMFree Report) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Several other analysts also recently issued reports on STM. William Blair reissued a market perform rating on shares of STMicroelectronics in a research note on Friday, April 26th. HSBC began coverage on STMicroelectronics in a research report on Thursday, February 22nd. They issued a buy rating on the stock. Berenberg Bank raised STMicroelectronics from a hold rating to a buy rating in a research report on Tuesday, April 23rd. Finally, Susquehanna reaffirmed a positive rating and issued a $55.00 target price on shares of STMicroelectronics in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, STMicroelectronics presently has an average rating of Moderate Buy and an average price target of $50.75.

Check Out Our Latest Stock Report on STMicroelectronics

STMicroelectronics Stock Performance

STM stock opened at $42.46 on Wednesday. The business’s 50-day moving average price is $41.61 and its two-hundred day moving average price is $44.47. STMicroelectronics has a 1-year low of $37.21 and a 1-year high of $55.85. The firm has a market cap of $38.33 billion, a PE ratio of 10.92, a P/E/G ratio of 4.25 and a beta of 1.62. The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STMGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.05). STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the business earned $1.10 EPS. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. As a group, research analysts forecast that STMicroelectronics will post 2.13 earnings per share for the current year.

STMicroelectronics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Tuesday, June 25th. This is an increase from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s payout ratio is 7.69%.

Hedge Funds Weigh In On STMicroelectronics

Institutional investors have recently bought and sold shares of the business. Thomas J. Herzfeld Advisors Inc. increased its position in STMicroelectronics by 548.4% during the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock worth $25,000 after buying an additional 499 shares during the last quarter. Mather Group LLC. acquired a new position in STMicroelectronics during the first quarter worth approximately $28,000. Headlands Technologies LLC acquired a new position in STMicroelectronics during the third quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in STMicroelectronics during the fourth quarter worth approximately $40,000. Finally, GAMMA Investing LLC bought a new stake in shares of STMicroelectronics during the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

About STMicroelectronics

(Get Free Report)

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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