STMicroelectronics (NYSE:STM) Hits New 52-Week Low – Time to Sell?

STMicroelectronics (NYSE:STM) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $22.70 and last traded at $22.63, with a volume of 310892 shares trading hands. The stock had previously closed at $24.74.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Morgan Stanley lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Robert W. Baird decreased their price objective on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Barclays lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Finally, Susquehanna reduced their price target on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $33.40.

STMicroelectronics Stock Performance

The company’s fifty day simple moving average is $25.29 and its 200 day simple moving average is $28.14. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $20.24 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 4.36 and a beta of 1.52.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. On average, equities research analysts expect that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 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 1.61%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio is currently 12.76%.

Hedge Funds Weigh In On STMicroelectronics

Several hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in STMicroelectronics in the 3rd quarter valued at approximately $25,000. Archer Investment Corp bought a new stake in shares of STMicroelectronics in the third quarter worth $30,000. GAMMA Investing LLC grew its stake in shares of STMicroelectronics by 81.4% in the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 531 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in STMicroelectronics in the fourth quarter valued at $31,000. Finally, Waldron Private Wealth LLC bought a new stake in shares of STMicroelectronics in the 3rd quarter valued at about $34,000. 5.05% of the stock is owned by institutional investors.

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.