STMicroelectronics (NYSE:STM) Stock Rating Lowered by Barclays

STMicroelectronics (NYSE:STM) was downgraded by analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research report issued on Wednesday, Marketbeat.com reports.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. TD Cowen cut shares of STMicroelectronics from a “buy” rating to a “hold” rating and dropped their price target for the company from $32.00 to $25.00 in a research note on Monday, January 13th. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. BNP Paribas began coverage on STMicroelectronics in a research note on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price target on the stock. Finally, Susquehanna reissued a “positive” rating and set a $33.00 price objective on shares of STMicroelectronics in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.11.

STMicroelectronics Stock Performance

Shares of STM stock opened at $25.77 on Wednesday. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. STMicroelectronics has a 12-month low of $23.66 and a 12-month high of $49.05. The business’s 50 day moving average is $25.37 and its two-hundred day moving average is $28.94. The company has a market capitalization of $23.28 billion, a P/E ratio of 10.61, a P/E/G ratio of 4.47 and a beta of 1.52.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was down 26.6% compared to the same quarter last year. Analysts expect that STMicroelectronics will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC acquired a new stake in shares of STMicroelectronics in the third quarter valued at approximately $25,000. Archer Investment Corp purchased a new position in STMicroelectronics during the third quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in shares of STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after buying an additional 531 shares during the period. Waldron Private Wealth LLC acquired a new stake in STMicroelectronics in the third quarter valued at $34,000. Finally, TD Private Client Wealth LLC grew its stake in shares of STMicroelectronics by 108.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after purchasing an additional 809 shares during the period. Institutional investors and hedge funds 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.