STMicroelectronics (NYSE:STM) Lowered to “Hold” Rating by TD Cowen

STMicroelectronics (NYSE:STM) was downgraded by research analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Marketbeat.com reports. They presently have a $25.00 price target on the semiconductor producer’s stock, down from their prior price target of $32.00. TD Cowen’s price objective would suggest a potential upside of 1.63% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Susquehanna reiterated a “positive” rating and issued a $33.00 target price on shares of STMicroelectronics in a research report on Thursday, November 21st. Morgan Stanley cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. BNP Paribas assumed coverage on shares of STMicroelectronics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price target on the stock. Finally, Robert W. Baird reduced their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, STMicroelectronics presently has a consensus rating of “Hold” and an average target price of $34.11.

STMicroelectronics Stock Performance

NYSE STM opened at $24.60 on Monday. 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 twelve month low of $23.94 and a twelve month high of $49.05. The stock has a 50-day moving average of $25.62 and a 200 day moving average of $29.70. The stock has a market capitalization of $22.22 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 3.20 and a beta of 1.52.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $1.16 EPS. Sell-side analysts anticipate that STMicroelectronics will post 1.64 EPS for the current fiscal year.

Institutional Trading of STMicroelectronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STM. Diversified Trust Co acquired a new stake in shares of STMicroelectronics in the fourth quarter valued at $583,000. GAMMA Investing LLC increased its stake in STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 531 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of STMicroelectronics during the third quarter worth about $186,000. TD Private Client Wealth LLC boosted its stake in shares of STMicroelectronics by 108.3% in the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock valued at $46,000 after purchasing an additional 809 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in shares of STMicroelectronics in the third quarter valued at approximately $1,500,000. 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.