STMicroelectronics (NYSE:STM) Rating Lowered to Hold at StockNews.com

STMicroelectronics (NYSE:STM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other brokerages have also issued reports on STM. Berenberg Bank raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. HSBC started coverage on shares of STMicroelectronics in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Susquehanna reissued a “positive” rating and set a $55.00 target price on shares of STMicroelectronics in a report on Monday, April 8th. William Blair reissued a “market perform” rating on shares of STMicroelectronics in a report on Friday. Finally, Craig Hallum reduced their target price on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.75.

STMicroelectronics Price Performance

STM stock opened at $41.33 on Friday. The company has a quick ratio of 2.44, a current ratio of 3.17 and a debt-to-equity ratio of 0.16. STMicroelectronics has a 12 month low of $37.21 and a 12 month high of $55.85. The firm has a market cap of $37.31 billion, a P/E ratio of 10.60, a P/E/G ratio of 2.85 and a beta of 1.69. The company’s 50-day moving average price is $43.75 and its two-hundred day moving average price is $44.56.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.05). The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.61 billion. STMicroelectronics had a net margin of 22.30% and a return on equity of 23.52%. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. On average, analysts anticipate that STMicroelectronics will post 2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in shares of STMicroelectronics by 11.2% during the 4th quarter. Blue Trust Inc. now owns 2,701 shares of the semiconductor producer’s stock valued at $135,000 after acquiring an additional 272 shares during the period. SG Americas Securities LLC bought a new stake in STMicroelectronics during the 4th quarter valued at $2,141,000. FMR LLC increased its stake in STMicroelectronics by 27.9% during the 3rd quarter. FMR LLC now owns 589,282 shares of the semiconductor producer’s stock valued at $25,433,000 after purchasing an additional 128,707 shares in the last quarter. Modera Wealth Management LLC increased its stake in STMicroelectronics by 5.7% during the 3rd quarter. Modera Wealth Management LLC now owns 110,423 shares of the semiconductor producer’s stock valued at $4,766,000 after purchasing an additional 5,957 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of STMicroelectronics by 8.7% in the 3rd quarter. American Century Companies Inc. now owns 431,652 shares of the semiconductor producer’s stock worth $18,630,000 after acquiring an additional 34,443 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

About STMicroelectronics

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.