STMicroelectronics (NYSE:STM) Hits New 12-Month Low – Here’s What Happened

STMicroelectronics (NYSE:STM)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $24.33 and last traded at $24.56, with a volume of 489579 shares traded. The stock had previously closed at $24.95.

Analyst Ratings Changes

STM has been the subject of a number of research reports. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Susquehanna dropped their target price on STMicroelectronics from $35.00 to $33.00 and set a “positive” rating for the company in a research report on Friday, November 1st. Sanford C. Bernstein cut their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, STMicroelectronics presently has an average rating of “Moderate Buy” and a consensus price target of $37.63.

STMicroelectronics Trading Down 1.2 %

The company’s fifty day moving average is $27.75 and its two-hundred day moving average is $34.24. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The stock has a market cap of $22.27 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 3.07 and a beta of 1.57.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.27 billion. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The company’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 EPS. On average, research analysts predict that STMicroelectronics will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Aigen Investment Management LP acquired a new position in STMicroelectronics in the third quarter valued at approximately $1,157,000. Orion Portfolio Solutions LLC boosted its holdings in shares of STMicroelectronics by 374.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock valued at $1,644,000 after buying an additional 29,999 shares in the last quarter. Washington Capital Management Inc. purchased a new position in shares of STMicroelectronics in the 3rd quarter valued at $1,112,000. Jane Street Group LLC raised its stake in STMicroelectronics by 153.8% during the 1st quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock worth $7,718,000 after acquiring an additional 108,152 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in STMicroelectronics by 1,564,831.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after acquiring an additional 1,079,734 shares in the last quarter. Hedge funds and other institutional investors 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.