STMicroelectronics (NYSE:STM) Given Average Rating of “Buy” by Brokerages

STMicroelectronics (NYSE:STM) has been given a consensus rating of “Buy” by the eighteen ratings firms that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $44.14.

Several equities research analysts recently commented on STM shares. UBS Group reiterated a “neutral” rating on shares of STMicroelectronics in a research report on Friday, April 30th. Liberum Capital lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday, April 30th. Societe Generale restated a “buy” rating on shares of STMicroelectronics in a report on Tuesday, May 4th. Citigroup upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating in a report on Friday, July 9th. Finally, Zacks Investment Research raised shares of STMicroelectronics from a “sell” rating to a “hold” rating and set a $42.00 price objective for the company in a research note on Tuesday, May 4th.

Several institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in STMicroelectronics by 12.5% during the first quarter. Van ECK Associates Corp now owns 3,091,479 shares of the semiconductor producer’s stock worth $118,497,000 after purchasing an additional 344,134 shares during the last quarter. Capital International Investors lifted its stake in STMicroelectronics by 76.7% during the first quarter. Capital International Investors now owns 1,835,694 shares of the semiconductor producer’s stock worth $68,728,000 after purchasing an additional 797,026 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in STMicroelectronics by 243.3% during the first quarter. Point72 Asset Management L.P. now owns 1,456,224 shares of the semiconductor producer’s stock worth $55,817,000 after purchasing an additional 1,032,097 shares during the last quarter. Renaissance Technologies LLC bought a new position in STMicroelectronics during the first quarter worth $44,594,000. Finally, Bank of New York Mellon Corp lifted its stake in STMicroelectronics by 12.5% during the first quarter. Bank of New York Mellon Corp now owns 792,466 shares of the semiconductor producer’s stock worth $30,375,000 after purchasing an additional 88,173 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

Shares of NYSE STM traded down $0.35 during trading on Friday, hitting $38.16. 52,328 shares of the company were exchanged, compared to its average volume of 1,440,462. The stock has a market cap of $34.77 billion, a P/E ratio of 27.77 and a beta of 1.49. STMicroelectronics has a 1 year low of $26.90 and a 1 year high of $43.02. The stock has a fifty day moving average price of $37.04. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.91 and a current ratio of 2.49.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, April 29th. The semiconductor producer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. STMicroelectronics had a net margin of 11.61% and a return on equity of 16.00%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the firm earned $0.21 EPS. The business’s revenue was up 35.2% on a year-over-year basis. As a group, sell-side analysts forecast that STMicroelectronics will post 1.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 29th. Stockholders of record on Tuesday, June 22nd were paid a dividend of $0.06 per share. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.04. This represents a $0.24 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, June 21st. STMicroelectronics’s dividend payout ratio is 16.53%.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and markets semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.

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Analyst Recommendations for STMicroelectronics (NYSE:STM)

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