STMicroelectronics (NYSE:STM) Downgraded to “Neutral” Rating by Bank of America

STMicroelectronics (NYSE:STM) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Thursday,Briefing.com Automated Import reports.

Several other analysts have also recently weighed in on the company. Barclays cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 22nd. Sanford C. Bernstein cut shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $33.00 to $26.00 in a research note on Wednesday. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Robert W. Baird cut their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, Craig Hallum lowered their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.26.

STMicroelectronics Trading Down 0.4 %

Shares of STM stock opened at $22.29 on Thursday. The stock has a market capitalization of $20.13 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.76 and a beta of 1.51. The company’s fifty day simple moving average is $25.08 and its two-hundred day simple moving average is $27.65. STMicroelectronics has a 1 year low of $21.36 and a 1 year high of $49.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. As a group, analysts anticipate that STMicroelectronics will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in STM. Truvestments Capital LLC purchased a new stake in shares of STMicroelectronics in the 3rd quarter worth about $25,000. Archer Investment Corp bought a new stake in shares of STMicroelectronics during the 3rd quarter valued at $30,000. Waldron Private Wealth LLC bought a new position in shares of STMicroelectronics in the 3rd quarter worth about $34,000. GAMMA Investing LLC lifted its position in STMicroelectronics by 81.4% during the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after acquiring an additional 531 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in STMicroelectronics during the fourth quarter worth about $31,000. 5.05% of the stock is 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.