STMicroelectronics (NYSE:STM) Cut to Underweight at Barclays

Barclays cut shares of STMicroelectronics (NYSE:STM) from an equal weight rating to an underweight rating in a report published on Wednesday, MarketBeat Ratings reports.

STM has been the subject of a number of other reports. TD Cowen cut STMicroelectronics from a “buy” rating to a “hold” rating and cut their price objective for the company from $32.00 to $25.00 in a research report on Monday, January 13th. Morgan Stanley cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. BNP Paribas assumed coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price objective for the company. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given 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 a consensus target price of $34.11.

STMicroelectronics Stock Down 1.1 %

Shares of STM stock opened at $25.46 on Wednesday. The stock has a 50 day moving average of $25.36 and a 200 day moving average of $28.92. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. The stock has a market cap of $23.00 billion, a P/E ratio of 10.48, a P/E/G ratio of 4.47 and a beta of 1.52. STMicroelectronics has a twelve month low of $23.66 and a twelve month high of $49.05.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.04. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. STMicroelectronics’s quarterly revenue was down 26.6% on a year-over-year basis. During the same period last year, the business earned $1.16 earnings per share. As a group, sell-side analysts expect that STMicroelectronics will post 1.64 EPS for the current year.

STMicroelectronics Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s payout ratio is 14.81%.

Institutional Trading of STMicroelectronics

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in STMicroelectronics by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after buying an additional 1,719,257 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 buying an additional 1,478,213 shares in the last quarter. Two Sigma Advisers LP grew its holdings in STMicroelectronics by 674.2% in the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock valued at $41,524,000 after buying an additional 1,216,300 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in STMicroelectronics in the 3rd quarter valued at $7,642,000. Finally, International Assets Investment Management LLC purchased a new stake in STMicroelectronics in the 3rd quarter valued at $4,158,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

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.