Zacks Investment Research upgraded shares of STMicroelectronics (NYSE:STM) from a hold rating to a strong-buy rating in a report released on Thursday morning. Zacks Investment Research currently has $15.00 target price on the semiconductor producer’s stock.
According to Zacks, “STMicroelectronics is a global independent semiconductor company which designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. “
STM has been the topic of a number of other reports. Bank of America raised shares of STMicroelectronics from an underperform rating to a neutral rating in a research report on Thursday, September 13th. Goldman Sachs Group restated a hold rating on shares of STMicroelectronics in a report on Wednesday, November 7th. Robert W. Baird lowered shares of STMicroelectronics from a neutral rating to an underperform rating in a report on Thursday, October 25th. Craig Hallum dropped their price objective on shares of STMicroelectronics from $28.00 to $20.00 and set a buy rating on the stock in a report on Wednesday, October 24th. Finally, ValuEngine lowered shares of STMicroelectronics from a sell rating to a strong sell rating in a report on Monday, October 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and an average target price of $20.15.
Shares of STM stock opened at $14.06 on Thursday. STMicroelectronics has a 52-week low of $12.00 and a 52-week high of $26.43. The company has a market capitalization of $12.45 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 2.07 and a beta of 1.03. The company has a current ratio of 2.54, a quick ratio of 1.81 and a debt-to-equity ratio of 0.27.
STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Wednesday, October 24th. The semiconductor producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. STMicroelectronics had a net margin of 12.41% and a return on equity of 21.97%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. As a group, equities analysts anticipate that STMicroelectronics will post 1.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 27th. Stockholders of record on Tuesday, December 18th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is presently 20.41%.
Institutional investors and hedge funds have recently made changes to their positions in the company. BB&T Securities LLC bought a new stake in shares of STMicroelectronics during the 2nd quarter worth about $214,000. Raymond James & Associates boosted its holdings in STMicroelectronics by 11.0% in the 2nd quarter. Raymond James & Associates now owns 121,516 shares of the semiconductor producer’s stock valued at $2,688,000 after purchasing an additional 12,077 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in STMicroelectronics by 123.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 36,989 shares of the semiconductor producer’s stock valued at $818,000 after purchasing an additional 20,417 shares during the period. Marshall Wace LLP bought a new stake in STMicroelectronics in the 2nd quarter valued at about $3,005,000. Finally, Centaurus Financial Inc. bought a new stake in STMicroelectronics in the 2nd quarter valued at about $125,000. 3.73% of the stock is owned by institutional investors.
STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.
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