Sanford C. Bernstein Trims STMicroelectronics (NYSE:STM) Target Price to $41.00

STMicroelectronics (NYSE:STM) had its target price dropped by equities research analysts at Sanford C. Bernstein from $54.00 to $41.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor producer’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 24.77% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday. TD Cowen cut their target price on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday. William Blair restated a “market perform” rating on shares of STMicroelectronics in a research report on Friday, April 26th. Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and increased their target price for the company from $35.50 to $45.80 in a research note on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.13.

STMicroelectronics Stock Performance

STMicroelectronics stock traded down $0.75 during midday trading on Tuesday, hitting $32.86. The company’s stock had a trading volume of 2,392,547 shares, compared to its average volume of 3,539,325. The company has a 50-day moving average price of $41.35 and a two-hundred day moving average price of $42.73. The company has a market cap of $29.69 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 3.38 and a beta of 1.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. STMicroelectronics has a 1-year low of $32.59 and a 1-year high of $53.96.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the prior year, the company earned $1.06 EPS. The firm’s quarterly revenue was down 25.3% compared to the same quarter last year. As a group, sell-side analysts predict that STMicroelectronics will post 2.01 earnings per share for the current year.

Institutional Trading of STMicroelectronics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mather Group LLC. acquired a new position in STMicroelectronics in the 1st quarter valued at about $28,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of STMicroelectronics in the 4th quarter valued at $40,000. GAMMA Investing LLC acquired a new position in shares of STMicroelectronics in the 4th quarter valued at $48,000. Whittier Trust Co. of Nevada Inc. boosted its stake in STMicroelectronics by 144.2% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after purchasing an additional 734 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in STMicroelectronics during the 2nd quarter worth $51,000. 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.