STMicroelectronics (NYSE:STM) Stock Rating Lowered by Wall Street Zen

STMicroelectronics (NYSE:STM) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently issued reports on STM. Susquehanna raised their price target on shares of STMicroelectronics from $60.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Citigroup reissued a “buy” rating on shares of STMicroelectronics in a research report on Wednesday, September 2nd. Bank of America raised shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research report on Thursday, June 11th. Finally, Barclays set a $60.00 target price on shares of STMicroelectronics in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, STMicroelectronics currently has a consensus rating of “Moderate Buy” and an average target price of $76.17.

STMicroelectronics Stock Performance

NYSE STM opened at $50.27 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.16. STMicroelectronics has a fifty-two week low of $21.11 and a fifty-two week high of $81.42. The business has a fifty day moving average of $53.80 and a 200-day moving average of $54.46. The stock has a market cap of $45.15 billion, a price-to-earnings ratio of 98.58 and a beta of 1.93.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Friday, July 24th. The semiconductor producer reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%.The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.46 billion. As a group, analysts predict that STMicroelectronics will post 1.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Situational Awareness LP acquired a new stake in STMicroelectronics during the 2nd quarter worth approximately $584,344,000. Van ECK Associates Corp grew its stake in STMicroelectronics by 12.2% during the fourth quarter. Van ECK Associates Corp now owns 10,532,428 shares of the semiconductor producer’s stock worth $273,211,000 after buying an additional 1,145,426 shares during the period. Brandes Investment Partners LP increased its position in shares of STMicroelectronics by 20.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,566,965 shares of the semiconductor producer’s stock worth $40,647,000 after acquiring an additional 265,108 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of STMicroelectronics in the 1st quarter valued at $19,132,000. Finally, Beaconlight Capital LLC acquired a new position in shares of STMicroelectronics during the 1st quarter valued at $13,284,000. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Company Profile

STMicroelectronics N.V. (NYSE: STM) is a global semiconductor company that designs, develops, manufactures and markets a broad range of integrated circuits and electronic components. Its products are used in automotive systems, industrial equipment, personal electronics, communications infrastructure and other embedded applications.

The company’s portfolio includes microcontrollers and microprocessors, analog and mixed-signal devices, power semiconductors, sensors, MEMS devices, connectivity products and automotive semiconductors.