STMicroelectronics (NYSE:STM) Sets New 52-Week Low – Time to Sell?

STMicroelectronics (NYSE:STM)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $25.91 and last traded at $25.91, with a volume of 747072 shares traded. The stock had previously closed at $27.15.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on STM shares. 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 note on Friday, November 1st. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Morgan Stanley cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 4th. TD Cowen decreased their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Finally, Craig Hallum decreased their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.63.

STMicroelectronics Stock Down 5.0 %

The stock has a market capitalization of $23.31 billion, a PE ratio of 10.60, a PEG ratio of 3.30 and a beta of 1.57. The company has a 50 day moving average price of $28.04 and a 200-day moving average price of $34.64. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The company’s quarterly revenue was down 26.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 earnings per share. As a group, analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is currently 12.76%.

Institutional Trading of STMicroelectronics

Institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its stake in shares of STMicroelectronics by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after purchasing an additional 1,719,257 shares during the last quarter. Capital International Investors raised its position in STMicroelectronics by 2.4% during the 1st quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock valued at $135,467,000 after purchasing an additional 74,519 shares in the last quarter. Dimensional Fund Advisors LP raised its position in STMicroelectronics by 177.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after purchasing an additional 1,478,213 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in STMicroelectronics by 0.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock valued at $61,443,000 after purchasing an additional 7,732 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in STMicroelectronics by 1,564,831.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock valued at $46,690,000 after purchasing an additional 1,079,734 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.