STMicroelectronics (NYSE:STM) Upgraded to “Buy” by Berenberg Bank

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

A number of other equities analysts have also recently issued reports on STM. Craig Hallum cut 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. Susquehanna reissued a positive rating and issued a $55.00 price objective on shares of STMicroelectronics in a research note on Monday, April 8th. StockNews.com lowered STMicroelectronics from a strong-buy rating to a buy rating in a research report on Wednesday, January 31st. Finally, HSBC started coverage on STMicroelectronics in a report on Thursday, February 22nd. They issued a buy rating on the stock. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, STMicroelectronics has an average rating of Moderate Buy and an average price target of $50.75.

STMicroelectronics Trading Up 1.9 %

NYSE STM opened at $39.99 on Tuesday. STMicroelectronics has a one year low of $37.21 and a one year high of $55.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.17 and a quick ratio of 2.44. The business has a 50 day simple moving average of $43.94 and a 200 day simple moving average of $44.61. The stock has a market capitalization of $36.10 billion, a P/E ratio of 8.97, a P/E/G ratio of 2.58 and a beta of 1.69.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, January 25th. The semiconductor producer reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19. STMicroelectronics had a net margin of 24.36% and a return on equity of 27.70%. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business posted $1.32 EPS. STMicroelectronics’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts expect that STMicroelectronics will post 2.99 earnings per share for the current year.

STMicroelectronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be issued 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 yield of 0.90%. This is an increase from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s dividend payout ratio is 4.48%.

Hedge Funds Weigh In On STMicroelectronics

Large investors have recently bought and sold shares of the stock. Thomas J. Herzfeld Advisors Inc. raised its holdings in shares of STMicroelectronics by 548.4% in the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock valued at $25,000 after purchasing an additional 499 shares during the last quarter. Mather Group LLC. bought a new position in shares of STMicroelectronics during the 1st quarter worth approximately $28,000. Huntington National Bank lifted its position in shares of STMicroelectronics by 112.7% during the 3rd quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock worth $30,000 after buying an additional 365 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of STMicroelectronics in the third quarter valued at approximately $30,000. Finally, Spire Wealth Management increased its position in shares of STMicroelectronics by 125.0% during 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 last quarter. 5.05% of the stock is currently owned by 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.