STMicroelectronics (NYSE:STM) Upgraded to Buy at Berenberg Bank

Berenberg Bank upgraded shares of STMicroelectronics (NYSE:STM) from a hold rating to a buy rating in a research report released on Tuesday, MarketBeat Ratings reports.

Other analysts also recently issued research reports about the company. StockNews.com downgraded STMicroelectronics from a strong-buy rating to a buy rating in a research report on Wednesday, January 31st. Susquehanna reiterated a positive rating and set a $55.00 target price on shares of STMicroelectronics in a research report on Monday, April 8th. HSBC assumed coverage on shares of STMicroelectronics in a report on Thursday, February 22nd. They issued a buy rating on the stock. Finally, Craig Hallum lowered their price objective on shares of STMicroelectronics from $50.00 to $48.00 and set a buy rating on the stock in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $50.75.

STMicroelectronics Stock Performance

Shares of STM opened at $41.34 on Tuesday. The stock’s 50-day simple moving average is $43.75 and its 200 day simple moving average is $44.56. The stock has a market capitalization of $37.32 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 2.82 and a beta of 1.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.44 and a current ratio of 3.17. STMicroelectronics has a 52-week low of $37.21 and a 52-week high of $55.85.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.61 billion. STMicroelectronics had a return on equity of 27.70% and a net margin of 24.36%. The business’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. Research analysts forecast that STMicroelectronics will post 2.99 EPS for the current fiscal year.

STMicroelectronics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, June 25th. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s dividend payout ratio (DPR) is 8.07%.

Hedge Funds Weigh In On STMicroelectronics

Large investors have recently added to or reduced their stakes in the business. Thomas J. Herzfeld Advisors Inc. raised its position in STMicroelectronics by 548.4% in the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock worth $25,000 after purchasing an additional 499 shares during the period. Mather Group LLC. purchased a new position in shares of STMicroelectronics in the first quarter valued at about $28,000. Huntington National Bank increased its position in shares of STMicroelectronics by 112.7% in the third quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock valued at $30,000 after acquiring an additional 365 shares during the period. Headlands Technologies LLC purchased a new position in shares of STMicroelectronics in the third quarter valued at about $30,000. Finally, Spire Wealth Management increased its position in shares of STMicroelectronics by 125.0% in the third quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock valued at $31,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.