Recent Research Analysts’ Ratings Changes for STMicroelectronics (STM)

STMicroelectronics (NYSE: STM) recently received a number of ratings updates from brokerages and research firms:

• 7/26/2024 – STMicroelectronics was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/26/2024 – STMicroelectronics was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating.
• 7/26/2024 – STMicroelectronics had its price target lowered by analysts at TD Cowen from $50.00 to $40.00. They now have a “buy” rating on the stock.
• 7/25/2024 – STMicroelectronics had its price target lowered by analysts at Craig Hallum from $48.00 to $42.00. They now have a “buy” rating on the stock.
• 6/18/2024 – STMicroelectronics was upgraded by analysts at The Goldman Sachs Group, Inc. from a “sell” rating to a “neutral” rating. They now have a $45.80 price target on the stock, up previously from $35.50.
• 6/12/2024 – STMicroelectronics was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 6/4/2024 – STMicroelectronics was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

STMicroelectronics Price Performance

Shares of STM traded down $0.82 during mid-day trading on Tuesday, reaching $32.79. The stock had a trading volume of 1,947,899 shares, compared to its average volume of 3,535,497. The firm has a market cap of $29.62 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 3.38 and a beta of 1.59. STMicroelectronics has a 12 month low of $32.69 and a 12 month high of $53.96. The business has a fifty day moving average of $41.35 and a 200 day moving average of $42.73. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company’s revenue was down 25.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 earnings per share. Equities analysts predict that STMicroelectronics will post 2.01 EPS for the current year.

Hedge Funds Weigh In On STMicroelectronics

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of STMicroelectronics by 16.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock worth $38,572,000 after purchasing an additional 109,477 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of STMicroelectronics by 374.5% in the first quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock worth $1,644,000 after buying an additional 29,999 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of STMicroelectronics by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after buying an additional 120,399 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of STMicroelectronics in the first quarter worth $554,000. Finally, Paradigm Asset Management Co. LLC purchased a new position in shares of STMicroelectronics in the fourth quarter worth $980,000. 5.05% of the stock is currently owned by institutional investors.

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.