STMicroelectronics (NYSE:STM) Given New $30.00 Price Target at TD Cowen

STMicroelectronics (NYSE:STM) had its target price upped by TD Cowen from $23.00 to $30.00 in a report issued on Friday, Marketbeat reports. The firm currently has a “hold” rating on the semiconductor producer’s stock. TD Cowen’s price target indicates a potential upside of 2.73% from the stock’s previous close.

STM has been the subject of a number of other research reports. Morgan Stanley raised STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. Dbs Bank downgraded STMicroelectronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Jefferies Financial Group upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, STMicroelectronics currently has an average rating of “Hold” and a consensus price target of $31.97.

STMicroelectronics Trading Down 2.4%

Shares of STMicroelectronics stock opened at $29.20 on Friday. STMicroelectronics has a 12-month low of $17.25 and a 12-month high of $43.35. The company has a market cap of $26.23 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.16 and a beta of 1.56. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $24.15 and its 200-day moving average price is $24.42.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.55 billion. On average, equities analysts expect that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of STMicroelectronics

A number of institutional investors and hedge funds have recently made changes to their positions in STM. Acadian Asset Management LLC increased its position in shares of STMicroelectronics by 148.4% during the first quarter. Acadian Asset Management LLC now owns 5,650,244 shares of the semiconductor producer’s stock worth $124,055,000 after purchasing an additional 3,375,428 shares in the last quarter. Invesco Ltd. increased its position in shares of STMicroelectronics by 188.1% during the first quarter. Invesco Ltd. now owns 5,093,785 shares of the semiconductor producer’s stock worth $111,860,000 after purchasing an additional 3,325,998 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of STMicroelectronics by 131.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer’s stock worth $85,232,000 after purchasing an additional 1,939,088 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of STMicroelectronics by 576.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer’s stock worth $47,962,000 after purchasing an additional 1,636,707 shares in the last quarter. Finally, Analog Century Management LP acquired a new position in STMicroelectronics during the first quarter worth $34,912,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

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.