STMicroelectronics (NYSE:STM) Cut to “Hold” at StockNews.com

STMicroelectronics (NYSE:STM) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other analysts have also commented on the company. The Goldman Sachs Group upgraded STMicroelectronics from a “sell” rating to a “neutral” rating and boosted their price target for the company from $35.50 to $45.80 in a report on Tuesday, June 18th. Susquehanna reiterated a “positive” rating and set a $55.00 target price on shares of STMicroelectronics in a report on Monday, April 8th. Morgan Stanley lowered STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday. Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, TD Cowen dropped their target price on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Friday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.56.

STMicroelectronics Trading Up 1.5 %

NYSE:STM traded up $0.52 on Friday, reaching $33.99. The company’s stock had a trading volume of 5,583,824 shares, compared to its average volume of 3,536,262. STMicroelectronics has a 1-year low of $33.16 and a 1-year high of $55.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.58 and a current ratio of 3.34. The firm has a market cap of $30.70 billion, a PE ratio of 8.71, a PEG ratio of 3.71 and a beta of 1.59. The business’s 50-day moving average price is $41.52 and its two-hundred day moving average price is $42.83.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a return on equity of 22.95% and a net margin of 22.30%. The company’s quarterly revenue was down 25.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 earnings per share. Equities research analysts anticipate that STMicroelectronics will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

Institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp grew its position in STMicroelectronics by 55.3% during the first quarter. Van ECK Associates Corp now owns 5,800,911 shares of the semiconductor producer’s stock worth $250,831,000 after buying an additional 2,065,387 shares in the last quarter. Capital International Investors lifted its stake in shares of STMicroelectronics by 2.4% in the 1st quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock valued at $135,467,000 after acquiring an additional 74,519 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of STMicroelectronics by 5.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock valued at $118,772,000 after acquiring an additional 120,399 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of STMicroelectronics by 8.7% in the 4th quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock valued at $80,991,000 after acquiring an additional 129,772 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of STMicroelectronics by 1,564,831.9% in 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 acquiring an additional 1,079,734 shares during the last quarter. Institutional investors and hedge funds 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.