STMicroelectronics (NYSE:STM) Sets New 12-Month Low – What’s Next?

STMicroelectronics (NYSE:STM)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $24.33 and last traded at $24.56, with a volume of 489579 shares. The stock had previously closed at $24.95.

Analyst Ratings Changes

A number of research firms have recently weighed in on STM. Sanford C. Bernstein dropped their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Craig Hallum dropped their price objective on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Robert W. Baird reduced their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.63.

STMicroelectronics Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. The company has a market capitalization of $22.14 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 2.98 and a beta of 1.57. The firm’s fifty day moving average price is $27.61 and its 200-day moving average price is $34.06.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue for the quarter was down 26.6% compared to the same quarter last year. Sell-side analysts expect that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds have recently added to or reduced their stakes in STM. Van ECK Associates Corp raised its stake in shares of STMicroelectronics by 26.5% during the third quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after acquiring an additional 1,719,257 shares during the last quarter. Capital International Investors increased its holdings in STMicroelectronics by 2.4% in the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock valued at $135,467,000 after purchasing an additional 74,519 shares during the period. Dimensional Fund Advisors LP increased its holdings in STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after purchasing an additional 1,478,213 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in STMicroelectronics by 0.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock worth $61,443,000 after purchasing an additional 7,732 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of STMicroelectronics by 674.2% in the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock valued at $41,524,000 after buying an additional 1,216,300 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Company Profile

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.