STMicroelectronics (NYSE:STM) Upgraded at Citigroup

STMicroelectronics (NYSE:STM) was upgraded by equities researchers at Citigroup to a “strong-buy” rating in a report issued on Thursday, Zacks.com reports.

Several other equities analysts have also recently issued reports on STM. Sanford C. Bernstein decreased their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Craig Hallum dropped their target price on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Morgan Stanley lowered STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their price target for the company from $35.50 to $45.80 in a research note on Tuesday, June 18th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, STMicroelectronics has an average rating of “Moderate Buy” and a consensus price target of $43.13.

STMicroelectronics Price Performance

NYSE:STM opened at $27.94 on Thursday. The firm’s fifty day moving average is $29.38 and its two-hundred day moving average is $36.93. The firm has a market cap of $25.24 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 3.46 and a beta of 1.57. STMicroelectronics has a one year low of $27.44 and a one year high of $51.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The company’s revenue was down 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share. Research analysts expect that STMicroelectronics will post 1.63 EPS for the current year.

Institutional Investors Weigh In On STMicroelectronics

A number of hedge funds have recently modified their holdings of STM. Goldman Sachs Group Inc. grew its stake in STMicroelectronics by 5.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock valued at $118,772,000 after acquiring an additional 120,399 shares in the last quarter. Fisher Asset Management LLC lifted its position in STMicroelectronics by 37.8% during the fourth quarter. Fisher Asset Management LLC now owns 9,131 shares of the semiconductor producer’s stock worth $458,000 after buying an additional 2,505 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in STMicroelectronics during the fourth quarter worth $6,006,000. Quadrature Capital Ltd grew its holdings in STMicroelectronics by 337.8% in the 4th quarter. Quadrature Capital Ltd now owns 510,834 shares of the semiconductor producer’s stock valued at $25,561,000 after buying an additional 394,147 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of STMicroelectronics in the 1st quarter worth $28,000. 5.05% of the stock is currently 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.