STMicroelectronics (NYSE:STM) Raised to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of STMicroelectronics (NYSE:STM) from an underweight rating to an equal weight rating in a report issued on Thursday, MarketBeat reports.

Several other equities analysts have also issued reports on STM. Robert W. Baird lowered their price target on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. BNP Paribas started coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 target price for the company. Barclays lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Bank of America lowered STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.26.

STMicroelectronics Price Performance

STM opened at $23.92 on Thursday. The stock has a 50-day moving average price of $24.75 and a 200-day moving average price of $27.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. The firm has a market cap of $21.61 billion, a PE ratio of 14.41, a P/E/G ratio of 0.97 and a beta of 1.51. STMicroelectronics has a 1 year low of $21.36 and a 1 year high of $49.05.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Sell-side analysts predict that STMicroelectronics will post 0.82 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s payout ratio is currently 18.67%.

Institutional Investors Weigh In On STMicroelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aigen Investment Management LP purchased a new stake in shares of STMicroelectronics during the 3rd quarter valued at about $1,157,000. Clear Creek Financial Management LLC purchased a new stake in shares of STMicroelectronics during the 4th quarter valued at about $468,000. Point72 Asset Management L.P. bought a new position in shares of STMicroelectronics during the 3rd quarter valued at approximately $1,924,000. Diversified Trust Co bought a new position in shares of STMicroelectronics during the 4th quarter valued at approximately $583,000. Finally, J2 Capital Management Inc bought a new position in shares of STMicroelectronics during the 4th quarter valued at approximately $295,000. 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.