STMicroelectronics (NYSE:STM) Shares Gap Down – Here’s What Happened

STMicroelectronics N.V. (NYSE:STM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $79.91, but opened at $72.00. STMicroelectronics shares last traded at $73.6240, with a volume of 2,444,136 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on STM. Craig Hallum raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a report on Thursday, June 11th. Citigroup restated a “buy” rating on shares of STMicroelectronics in a research report on Sunday, April 26th. UBS Group set a $100.00 price objective on shares of STMicroelectronics in a research note on Wednesday, June 10th. Finally, TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.39.

STMicroelectronics Trading Down 1.1%

The stock has a 50 day moving average of $63.41 and a 200 day moving average of $42.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 2.34. The firm has a market cap of $64.35 billion, a P/E ratio of 447.83 and a beta of 1.94.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share (EPS) for the quarter. The firm had revenue of $3.10 billion during the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%. As a group, equities research analysts predict that STMicroelectronics N.V. will post 1.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Midwest Trust Co lifted its holdings in shares of STMicroelectronics by 0.8% in the 1st quarter. Midwest Trust Co now owns 54,447 shares of the semiconductor producer’s stock worth $1,881,000 after acquiring an additional 406 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of STMicroelectronics by 5.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,062 shares of the semiconductor producer’s stock valued at $348,000 after purchasing an additional 479 shares during the last quarter. Inspire Investing LLC raised its position in STMicroelectronics by 5.0% in the 1st quarter. Inspire Investing LLC now owns 10,261 shares of the semiconductor producer’s stock worth $355,000 after purchasing an additional 488 shares during the period. Smartleaf Asset Management LLC raised its position in STMicroelectronics by 13.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,405 shares of the semiconductor producer’s stock worth $115,000 after purchasing an additional 509 shares during the period. Finally, Earnest Partners LLC lifted its stake in STMicroelectronics by 3.2% in the fourth quarter. Earnest Partners LLC now owns 17,282 shares of the semiconductor producer’s stock worth $448,000 after purchasing an additional 534 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Company Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.