STMicroelectronics (NYSE:STM) Rating Lowered 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 report released on Thursday.

Several other equities analysts also recently issued reports on STM. The Goldman Sachs Group upgraded shares of STMicroelectronics from a “sell” rating to a “neutral” rating and upped their price objective for the company from $35.50 to $45.80 in a research note on Tuesday, June 18th. TD Cowen decreased their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Craig Hallum decreased their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Sanford C. Bernstein decreased their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Finally, Morgan Stanley downgraded shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.13.

STMicroelectronics Stock Performance

NYSE:STM opened at $27.97 on Thursday. The firm has a market capitalization of $25.27 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 3.36 and a beta of 1.58. The business’s fifty day moving average price is $32.81 and its 200 day moving average price is $38.99. 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 12 month low of $27.44 and a 12 month high of $51.27.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. STMicroelectronics’s revenue for the quarter was down 25.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 earnings per share. On average, sell-side analysts anticipate that STMicroelectronics will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in STMicroelectronics in the first quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. lifted 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 purchasing an additional 734 shares during the period. Ridgewood Investments LLC purchased a new position in STMicroelectronics in the second quarter valued at about $51,000. Principal Securities Inc. purchased a new position in STMicroelectronics in the fourth quarter valued at about $70,000. Finally, EverSource Wealth Advisors LLC increased its holdings in STMicroelectronics by 59.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the semiconductor producer’s stock valued at $83,000 after buying an additional 620 shares in 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.