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STMicroelectronics NV (NYSE:STM) was downgraded by stock analysts at Sanford C. Bernstein from a “market perform” rating to an “underperform” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports.

Shares of STMicroelectronics NV (NYSE:STM) traded down 2.68% during mid-day trading on Tuesday, hitting $8.36. 791,318 shares of the company’s stock traded hands. STMicroelectronics NV has a one year low of $7.20 and a one year high of $10.00. The stock has a 50-day moving average of $9.15 and a 200-day moving average of $8.99. The company’s market cap is $7.466 billion.

STMicroelectronics NV (NYSE:STM) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.01. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was down 8.9% on a year-over-year basis. On average, analysts predict that STMicroelectronics NV will post $0.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Wednesday, September 24th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Monday, September 22nd.

STM has been the subject of a number of other recent research reports. Analysts at Bernstein downgraded shares of STMicroelectronics NV from a “market perform” rating to an “underperform” rating in a research note on Tuesday. They now have a $7.15 price target on the stock, down previously from $8.19. Separately, analysts at Zacks upgraded shares of STMicroelectronics NV from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 17th. They now have a $10.20 price target on the stock. Finally, analysts at Citigroup Inc. downgraded shares of STMicroelectronics NV from a “neutral” rating to a “sell” rating in a research note on Monday, June 2nd. Six analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. STMicroelectronics NV has an average rating of “Hold” and an average target price of $9.59.

STMicroelectronics NV is a global independent semiconductor company that designs, develops, manufactures and markets a range of semiconductor products used in a variety of microelectronic applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems.

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