STMicroelectronics (NYSE:STM) Cut to “Neutral” at Bank of America

Bank of America downgraded shares of STMicroelectronics (NYSE:STM) from a buy rating to a neutral rating in a report released on Thursday morning, Marketbeat Ratings reports.

Other analysts have also recently issued reports about the stock. Robert W. Baird decreased their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Barclays lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 22nd. Susquehanna cut their target price on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a research report on Friday, January 31st. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Finally, Craig Hallum cut their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.26.

STMicroelectronics Price Performance

NYSE:STM opened at $22.73 on Thursday. The company has a market capitalization of $20.53 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.76 and a beta of 1.51. The business’s 50-day moving average is $25.03 and its 200 day moving average is $27.61. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 12 month low of $21.36 and a 12 month high of $49.05.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, equities research analysts forecast that STMicroelectronics will post 1.04 earnings per share for the current fiscal year.

STMicroelectronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 1.58%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio (DPR) is presently 18.67%.

Hedge Funds Weigh In On STMicroelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning grew its holdings in STMicroelectronics by 10.9% during the 3rd quarter. Creative Planning now owns 66,113 shares of the semiconductor producer’s stock worth $1,966,000 after acquiring an additional 6,509 shares in the last quarter. Washington Capital Management Inc. acquired a new stake in STMicroelectronics in the third quarter valued at approximately $1,112,000. Naviter Wealth LLC grew its holdings in STMicroelectronics by 25.5% in the third quarter. Naviter Wealth LLC now owns 13,945 shares of the semiconductor producer’s stock worth $416,000 after purchasing an additional 2,833 shares during the last quarter. Inspire Advisors LLC increased its position in shares of STMicroelectronics by 21.5% during the third quarter. Inspire Advisors LLC now owns 15,760 shares of the semiconductor producer’s stock worth $469,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of STMicroelectronics by 65.2% during the 3rd quarter. Blue Trust Inc. now owns 9,668 shares of the semiconductor producer’s stock valued at $287,000 after purchasing an additional 3,814 shares during the last quarter. Institutional investors 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.