Brokerages Set STMicroelectronics (NYSE:STM) Price Target at $49.76

STMicroelectronics (NYSE:STM) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $49.76.

STM has been the topic of several recent analyst reports. Berenberg Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. William Blair reissued a “market perform” rating on shares of STMicroelectronics in a report on Friday, April 26th. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and upped their price target for the company from $35.50 to $45.80 in a report on Tuesday, June 18th. StockNews.com raised STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $55.00 price target on shares of STMicroelectronics in a report on Monday, April 8th.

STMicroelectronics Stock Performance

Shares of STM stock opened at $39.28 on Wednesday. The business has a 50 day moving average of $41.58 and a two-hundred day moving average of $44.00. The company has a market cap of $35.46 billion, a P/E ratio of 10.07, a PEG ratio of 3.74 and a beta of 1.62. The company has a quick ratio of 2.58, a current ratio of 3.34 and a debt-to-equity ratio of 0.17. STMicroelectronics has a 52 week low of $37.21 and a 52 week high of $55.85.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.61 billion. STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The business’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period last year, the firm posted $1.10 EPS. As a group, analysts anticipate that STMicroelectronics will post 2.13 EPS for the current year.

Institutional Investors Weigh In On STMicroelectronics

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp lifted its position in STMicroelectronics by 55.3% during the 1st quarter. Van ECK Associates Corp now owns 5,800,911 shares of the semiconductor producer’s stock worth $250,831,000 after acquiring an additional 2,065,387 shares during the last quarter. Capital International Investors lifted 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 worth $135,467,000 after acquiring an additional 74,519 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in STMicroelectronics by 5.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after acquiring an additional 120,399 shares during the last quarter. Rafferty Asset Management LLC lifted its position in STMicroelectronics by 8.7% during the 4th quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock worth $80,991,000 after acquiring an additional 129,772 shares during the last quarter. Finally, Lazard Asset Management LLC lifted 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 worth $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.

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.