Craig Hallum Cuts STMicroelectronics (NYSE:STM) Price Target to $36.00

STMicroelectronics (NYSE:STM) had its target price decreased by Craig Hallum from $42.00 to $36.00 in a report issued on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor producer’s stock.

A number of other research firms also recently weighed in on STM. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. TD Cowen decreased their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 26th. Sanford C. Bernstein cut their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Finally, Morgan Stanley cut shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.97.

STMicroelectronics Price Performance

Shares of NYSE:STM traded down $0.48 during midday trading on Thursday, reaching $26.66. The company’s stock had a trading volume of 2,034,312 shares, compared to its average volume of 3,929,208. The business’s fifty day simple moving average is $28.76 and its 200-day simple moving average is $35.49. The company has a market capitalization of $24.08 billion, a P/E ratio of 8.29, a P/E/G ratio of 3.39 and a beta of 1.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. STMicroelectronics has a fifty-two week low of $26.44 and a fifty-two week high of $51.27.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The business’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. As a group, equities research analysts expect that STMicroelectronics will post 1.63 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 annualized dividend and a yield of 1.35%. STMicroelectronics’s payout ratio is presently 9.63%.

Institutional Investors Weigh In On STMicroelectronics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in STMicroelectronics by 26.5% during the third quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock worth $228,655,000 after acquiring an additional 1,719,257 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in STMicroelectronics by 177.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after purchasing an additional 1,478,213 shares during the last quarter. Lazard Asset Management LLC increased its position in STMicroelectronics by 1,564,831.9% during the first 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. Federated Hermes Inc. lifted its position in shares of STMicroelectronics by 128.1% in the second quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock valued at $25,469,000 after buying an additional 364,184 shares during the last quarter. Finally, Delta Global Management LP increased its holdings in shares of STMicroelectronics by 31.3% during the 1st quarter. Delta Global Management LP now owns 1,047,650 shares of the semiconductor producer’s stock worth $45,300,000 after acquiring an additional 249,905 shares during the last quarter. 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.