Barclays downgraded shares of STMicroelectronics (NYSE:STM – Free Report) from an equal weight rating to an underweight rating in a research report sent to investors on Wednesday morning, MarketBeat reports.
STM has been the topic of a number of other research reports. Morgan Stanley downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Craig Hallum dropped their price objective on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. TD Cowen downgraded STMicroelectronics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $32.00 to $25.00 in a research report on Monday, January 13th. Finally, Robert W. Baird dropped their price objective on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Two equities research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $34.11.
View Our Latest Stock Report on STMicroelectronics
STMicroelectronics Stock Performance
STMicroelectronics (NYSE:STM – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The business’s revenue was down 26.6% compared to the same quarter last year. Analysts predict that STMicroelectronics will post 1.64 earnings per share for the current year.
STMicroelectronics Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.41%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio is presently 14.81%.
Institutional Investors Weigh In On STMicroelectronics
Institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new position in shares of STMicroelectronics in the third quarter worth about $25,000. Archer Investment Corp purchased a new position in shares of STMicroelectronics in the third quarter worth about $30,000. GAMMA Investing LLC raised 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. Waldron Private Wealth LLC purchased a new position in shares of STMicroelectronics in the third quarter worth about $34,000. Finally, TD Private Client Wealth LLC raised its stake in shares of STMicroelectronics by 108.3% in the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after purchasing an additional 809 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.
STMicroelectronics Company Profile
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.
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