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 report released on Tuesday morning, MarketBeat.com reports.

A number of other brokerages have also recently commented on STM. Craig Hallum decreased their price target on STMicroelectronics from $50.00 to $48.00 and set a buy rating on the stock in a research report on Thursday, January 25th. Susquehanna restated a positive rating and issued a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. HSBC initiated coverage on STMicroelectronics in a research report on Thursday, February 22nd. They issued a buy rating on the stock. Finally, StockNews.com cut STMicroelectronics from a strong-buy rating to a buy rating in a research report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $50.75.

STMicroelectronics Stock Down 3.0 %

Shares of NYSE STM opened at $41.34 on Tuesday. 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. The stock has a market capitalization of $37.32 billion, a P/E ratio of 9.27, a PEG ratio of 2.82 and a beta of 1.69. The stock’s fifty day moving average is $43.75 and its 200 day moving average is $44.56.

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

STMicroelectronics Increases Dividend

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

Institutional Trading of STMicroelectronics

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of STMicroelectronics by 11.2% during the fourth quarter. Blue Trust Inc. now owns 2,701 shares of the semiconductor producer’s stock valued at $135,000 after purchasing an additional 272 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of STMicroelectronics in the fourth quarter worth approximately $2,141,000. FMR LLC lifted its stake in shares of STMicroelectronics by 27.9% in the third quarter. FMR LLC now owns 589,282 shares of the semiconductor producer’s stock worth $25,433,000 after acquiring an additional 128,707 shares during the period. Modera Wealth Management LLC lifted its stake in shares of STMicroelectronics by 5.7% in the third quarter. Modera Wealth Management LLC now owns 110,423 shares of the semiconductor producer’s stock worth $4,766,000 after acquiring an additional 5,957 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of STMicroelectronics by 8.7% in the third quarter. American Century Companies Inc. now owns 431,652 shares of the semiconductor producer’s stock worth $18,630,000 after acquiring an additional 34,443 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

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.