STMicroelectronics (NYSE:STM) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of STMicroelectronics (NYSE:STM) from a hold rating to a buy rating in a report published on Monday.

Several other analysts also recently commented on the stock. Sanford C. Bernstein decreased their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an outperform rating on the stock in a research report on Tuesday, July 30th. TD Cowen cut their target price on STMicroelectronics from $50.00 to $40.00 and set a buy rating for the company in a research report on Friday, July 26th. Morgan Stanley cut shares of STMicroelectronics from an overweight rating to an equal weight rating in a research note on Friday, July 26th. Craig Hallum decreased their price target on shares of STMicroelectronics from $48.00 to $42.00 and set a buy rating on the stock in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group upgraded STMicroelectronics from a sell rating to a neutral rating and lifted their price target for the stock from $35.50 to $45.80 in a research report on Tuesday, June 18th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $43.13.

STMicroelectronics Stock Up 0.6 %

Shares of NYSE STM opened at $29.76 on Monday. The firm has a fifty day simple moving average of $35.03 and a two-hundred day simple moving average of $40.10. The firm has a market capitalization of $26.89 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 3.84 and a beta of 1.58. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. STMicroelectronics has a 12 month low of $28.19 and a 12 month high of $51.27.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the business earned $1.06 EPS. STMicroelectronics’s quarterly revenue was down 25.3% compared to the same quarter last year. Equities analysts expect that STMicroelectronics will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of STMicroelectronics by 36.6% during the second quarter. Creative Planning now owns 59,604 shares of the semiconductor producer’s stock valued at $2,341,000 after acquiring an additional 15,985 shares during the last quarter. Scientech Research LLC purchased a new stake in STMicroelectronics during the 2nd quarter worth approximately $381,000. Lighthouse Investment Partners LLC boosted its position in STMicroelectronics by 25.0% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 50,000 shares of the semiconductor producer’s stock valued at $1,975,000 after buying an additional 10,000 shares during the period. Bank of Montreal Can increased its position in shares of STMicroelectronics by 50.3% during the second quarter. Bank of Montreal Can now owns 47,425 shares of the semiconductor producer’s stock worth $1,903,000 after acquiring an additional 15,870 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd boosted its holdings in STMicroelectronics by 581.9% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 225,428 shares of the semiconductor producer’s stock valued at $8,855,000 after purchasing an additional 192,369 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

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.