HSBC Upgrades STMicroelectronics to Neutral (STM)
STMicroelectronics (NYSE:STM) was upgraded by stock analysts at HSBC from an “underweight” rating to a “neutral” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports.
Shares of STMicroelectronics (NYSE:STM) traded down 0.50% during mid-day trading on Wednesday, hitting $7.92. 1,077,691 shares of the company’s stock traded hands. STMicroelectronics has a 1-year low of $7.11 and a 1-year high of $10.05. The stock’s 50-day moving average is $7.73 and its 200-day moving average is $8.31. The company’s market cap is $7.053 billion.
STMicroelectronics (NYSE:STM) last released its earnings data on Monday, January 27th. The company reported ($0.01) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.04 by $0.05. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. On average, analysts predict that STMicroelectronics will post $-0.25 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at BNP Paribas downgraded shares of STMicroelectronics from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, January 17th. Separately, analysts at Deutsche Bank downgraded shares of STMicroelectronics from a “hold” rating to a “sell” rating in a research note to investors on Thursday, January 9th. Finally, analysts at Barclays downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note to investors on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $9.60.
STMicroelectronics N.V. is a global independent semiconductor company that designs, develops, manufactures and markets a range of semiconductor products used in a variety of microelectronic applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems.
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