STMicroelectronics (NYSE:STM) Shares Gap Down to $40.10

STMicroelectronics (NYSE:STM)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $40.10, but opened at $39.21. STMicroelectronics shares last traded at $39.54, with a volume of 332,681 shares changing hands.

Wall Street Analysts Forecast Growth

STM has been the topic of a number of analyst reports. StockNews.com upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Susquehanna reissued a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. The Goldman Sachs Group upgraded shares of STMicroelectronics from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $35.50 to $45.80 in a report on Tuesday, June 18th. William Blair reiterated a “market perform” rating on shares of STMicroelectronics in a research note on Friday, April 26th. Finally, Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, STMicroelectronics currently has an average rating of “Moderate Buy” and a consensus price target of $49.76.

STMicroelectronics Stock Performance

The company has a market cap of $35.20 billion, a PE ratio of 10.00, a PEG ratio of 3.74 and a beta of 1.62. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 2.58. The business has a 50-day moving average of $41.56 and a 200 day moving average of $44.06.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.05). The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.61 billion. STMicroelectronics had a return on equity of 22.95% and a net margin of 22.30%. STMicroelectronics’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. Equities research analysts anticipate that STMicroelectronics will post 2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. purchased a new stake in STMicroelectronics in the first quarter worth about $28,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in STMicroelectronics in the 4th quarter worth approximately $40,000. GAMMA Investing LLC bought a new stake in STMicroelectronics during the 4th quarter worth approximately $48,000. Headlands Technologies LLC lifted its holdings in STMicroelectronics by 74.9% during the fourth quarter. Headlands Technologies LLC now owns 1,221 shares of the semiconductor producer’s stock valued at $61,000 after purchasing an additional 523 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of STMicroelectronics in the fourth quarter worth approximately $70,000. 5.05% of the stock is currently 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.