STMicroelectronics (NYSE:STM) Cut to “Hold” at StockNews.com

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

A number of other brokerages have also weighed in on STM. Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. William Blair reiterated a “market perform” rating on shares of STMicroelectronics in a research report on Friday, April 26th. Craig Hallum lowered their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday. Susquehanna reiterated a “positive” rating and set a $55.00 price objective on shares of STMicroelectronics in a research report on Monday, April 8th. Finally, TD Cowen lowered their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.56.

STMicroelectronics Price Performance

STM traded up $0.52 during trading on Friday, reaching $33.99. 5,583,824 shares of the company traded hands, compared to its average volume of 3,536,262. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.58 and a current ratio of 3.34. The firm has a fifty day simple moving average of $41.52 and a 200 day simple moving average of $42.83. STMicroelectronics has a 12-month low of $33.16 and a 12-month high of $55.85. The company has a market cap of $30.70 billion, a P/E ratio of 8.71, a PEG ratio of 3.71 and a beta of 1.59.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. STMicroelectronics’s revenue for the quarter was down 25.3% on a year-over-year basis. On average, equities analysts forecast that STMicroelectronics will post 2.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in STM. Blue Trust Inc. increased its stake in STMicroelectronics by 11.2% in the 4th quarter. Blue Trust Inc. now owns 2,701 shares of the semiconductor producer’s stock worth $135,000 after buying an additional 272 shares during the period. Ballentine Partners LLC increased its stake in STMicroelectronics by 15.2% in the 4th quarter. Ballentine Partners LLC now owns 9,238 shares of the semiconductor producer’s stock worth $463,000 after buying an additional 1,217 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in STMicroelectronics in the 4th quarter worth about $40,000. International Assets Investment Management LLC purchased a new position in STMicroelectronics in the 4th quarter worth about $11,500,000. Finally, Prime Capital Investment Advisors LLC bought a new position in STMicroelectronics during the 4th quarter worth about $286,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.