STMicroelectronics (NYSE:STM) was upgraded by equities researchers at Credit Suisse Group from a “neutral” rating to a “buy” rating in a research note issued on Thursday.
A number of other research analysts have also commented on the company. Craig Hallum upped their price objective on STMicroelectronics from $21.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, October 26th. ValuEngine lowered STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Zacks Investment Research raised STMicroelectronics from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $21.88.
STMicroelectronics (STM) traded up $0.05 on Thursday, reaching $23.49. The company had a trading volume of 3,173,400 shares, compared to its average volume of 2,996,143. STMicroelectronics has a twelve month low of $11.28 and a twelve month high of $24.80. The company has a current ratio of 2.29, a quick ratio of 1.73 and a debt-to-equity ratio of 0.33. The company has a market cap of $21,840.00, a PE ratio of 35.59, a PEG ratio of 3.69 and a beta of 0.79.
Several institutional investors and hedge funds have recently added to or reduced their stakes in STM. Renaissance Technologies LLC boosted its holdings in shares of STMicroelectronics by 362.4% in the 1st quarter. Renaissance Technologies LLC now owns 5,299,919 shares of the semiconductor producer’s stock worth $81,713,000 after purchasing an additional 4,153,795 shares in the last quarter. Acadian Asset Management LLC raised its holdings in STMicroelectronics by 629.6% in the 1st quarter. Acadian Asset Management LLC now owns 3,807,959 shares of the semiconductor producer’s stock valued at $58,870,000 after acquiring an additional 3,286,041 shares during the last quarter. Morgan Stanley raised its holdings in STMicroelectronics by 51.4% in the 3rd quarter. Morgan Stanley now owns 4,749,798 shares of the semiconductor producer’s stock valued at $38,710,000 after acquiring an additional 1,613,515 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in STMicroelectronics in the 1st quarter valued at about $23,004,000. Finally, FMR LLC purchased a new stake in shares of STMicroelectronics in the 1st quarter valued at approximately $21,932,000. 5.09% of the stock is currently owned by institutional investors.
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STMicroelectronics Company Profile
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
