Brokerages Set STMicroelectronics (NYSE:STM) Price Target at $53.00

Shares of STMicroelectronics (NYSE:STM) have received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $53.00.

STM has been the topic of several research analyst reports. StockNews.com assumed coverage on shares of STMicroelectronics in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Susquehanna reduced their target price on STMicroelectronics from $65.00 to $55.00 and set a “positive” rating on the stock in a report on Tuesday, October 24th. Morgan Stanley upgraded STMicroelectronics from an “equal weight” rating to an “overweight” rating in a report on Wednesday, November 1st. Robert W. Baird reaffirmed a “neutral” rating and issued a $35.00 price objective (down from $50.00) on shares of STMicroelectronics in a research note on Tuesday, October 31st. Finally, TD Cowen lifted their price objective on STMicroelectronics from $56.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, July 28th.

STMicroelectronics Stock Up 1.2 %

Shares of NYSE STM opened at $46.29 on Tuesday. STMicroelectronics has a 1 year low of $34.59 and a 1 year high of $55.85. The firm’s 50 day moving average price is $42.36 and its 200 day moving average price is $45.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.17 and a current ratio of 2.94. The firm has a market cap of $42.05 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 2.12 and a beta of 1.62.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor producer reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.08. STMicroelectronics had a return on equity of 30.92% and a net margin of 25.15%. The business had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that STMicroelectronics will post 4.29 earnings per share for the current year.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thomas J. Herzfeld Advisors Inc. boosted its position in STMicroelectronics by 548.4% in the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock valued at $25,000 after buying an additional 499 shares during the last quarter. Huntington National Bank boosted its holdings in STMicroelectronics by 112.7% in the third quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock valued at $30,000 after purchasing an additional 365 shares during the last quarter. Headlands Technologies LLC purchased a new position in STMicroelectronics in the third quarter valued at about $30,000. Glass Jacobson Investment Advisors llc purchased a new position in STMicroelectronics in the second quarter valued at about $31,000. Finally, Spire Wealth Management boosted its stake in shares of STMicroelectronics by 125.0% during the 3rd quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock valued at $31,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 5.62% 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.