STMicroelectronics (NYSE:STM) Stock Rating Upgraded by Berenberg Bank

Berenberg Bank upgraded shares of STMicroelectronics (NYSE:STM) from a hold rating to a buy rating in a report released on Tuesday morning, MarketBeat reports.

A number of other analysts also recently commented on the company. Craig Hallum decreased their price target on STMicroelectronics from $50.00 to $48.00 and set a buy rating for the company in a research report on Thursday, January 25th. Susquehanna reiterated a positive rating and set a $55.00 target price on shares of STMicroelectronics in a research note on Monday, April 8th. HSBC started coverage on STMicroelectronics in a research note on Thursday, February 22nd. They set a buy rating on the stock. Finally, StockNews.com cut STMicroelectronics from a strong-buy rating to a buy rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $50.75.

STMicroelectronics Stock Performance

Shares of STM opened at $42.56 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.44 and a current ratio of 3.17. The stock has a 50 day moving average price of $43.83 and a two-hundred day moving average price of $44.58. The firm has a market capitalization of $38.42 billion, a P/E ratio of 9.54, a P/E/G ratio of 2.82 and a beta of 1.69. STMicroelectronics has a 52 week low of $37.21 and a 52 week high of $55.85.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.19. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.08 billion. STMicroelectronics had a return on equity of 27.70% and a net margin of 24.36%. STMicroelectronics’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 earnings per share. Equities analysts forecast that STMicroelectronics will post 2.99 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, June 25th. This represents a $0.36 annualized dividend and a yield of 0.85%. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s dividend payout ratio (DPR) is 4.48%.

Institutional Investors Weigh In On STMicroelectronics

Several large investors have recently added to or reduced their stakes in the company. SFE Investment Counsel increased its holdings in STMicroelectronics by 2.8% in the 4th quarter. SFE Investment Counsel now owns 9,551 shares of the semiconductor producer’s stock worth $479,000 after acquiring an additional 258 shares during the last quarter. M&T Bank Corp increased its holdings in STMicroelectronics by 3.7% in the 3rd quarter. M&T Bank Corp now owns 7,579 shares of the semiconductor producer’s stock worth $327,000 after acquiring an additional 270 shares during the last quarter. Blue Trust Inc. increased its holdings in STMicroelectronics by 11.2% in the 4th quarter. Blue Trust Inc. now owns 2,701 shares of the semiconductor producer’s stock worth $135,000 after acquiring an additional 272 shares during the last quarter. Schechter Investment Advisors LLC grew its holdings in STMicroelectronics by 3.0% during the 3rd quarter. Schechter Investment Advisors LLC now owns 10,335 shares of the semiconductor producer’s stock valued at $446,000 after buying an additional 298 shares in the last quarter. Finally, Gallacher Capital Management LLC grew its holdings in STMicroelectronics by 3.8% during the 4th quarter. Gallacher Capital Management LLC now owns 8,905 shares of the semiconductor producer’s stock valued at $446,000 after buying an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.