STMicroelectronics (NYSE:STM) Lowered to Hold at StockNews.com

StockNews.com lowered shares of STMicroelectronics (NYSE:STM) from a buy rating to a hold rating in a research report report published on Friday morning.

Other analysts have also issued research reports about the company. Morgan Stanley lowered STMicroelectronics from an overweight rating to an equal weight rating in a report on Friday. William Blair reaffirmed a market perform rating on shares of STMicroelectronics in a research report on Friday, April 26th. Berenberg Bank upgraded STMicroelectronics from a hold rating to a buy rating in a research note on Tuesday, April 23rd. Susquehanna reissued a positive rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. Finally, TD Cowen decreased 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. Five 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.com, STMicroelectronics presently has a consensus rating of Moderate Buy and an average price target of $43.56.

STMicroelectronics Stock Performance

Shares of STMicroelectronics stock opened at $33.61 on Friday. STMicroelectronics has a 12 month low of $33.16 and a 12 month high of $53.96. The stock’s fifty day moving average price is $41.35 and its 200-day moving average price is $42.73. The firm has a market cap of $30.36 billion, a P/E ratio of 8.62, a P/E/G ratio of 3.38 and a beta of 1.59. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STM) last posted its 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. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the firm posted $1.06 EPS. The company’s revenue for the quarter was down 25.3% on a year-over-year basis. On average, equities research analysts expect that STMicroelectronics will post 2.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

Hedge funds have recently made changes to their positions in the company. Modera Wealth Management LLC lifted its position in STMicroelectronics by 58.8% during the 2nd quarter. Modera Wealth Management LLC now owns 195,548 shares of the semiconductor producer’s stock worth $7,681,000 after acquiring an additional 72,371 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of STMicroelectronics during the second quarter worth about $51,000. Whittier Trust Co. of Nevada Inc. boosted its position in STMicroelectronics by 144.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after buying an additional 734 shares during the last quarter. Whittier Trust Co. increased its holdings in STMicroelectronics by 10.4% in the 2nd quarter. Whittier Trust Co. now owns 8,819 shares of the semiconductor producer’s stock worth $346,000 after buying an additional 831 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in STMicroelectronics by 49.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,908 shares of the semiconductor producer’s stock worth $154,000 after buying an additional 1,293 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

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.