STMicroelectronics (NYSE:STM) Rating Lowered to Market Perform at Sanford C. Bernstein

STMicroelectronics (NYSE:STM) was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. They presently have a $26.00 target price on the semiconductor producer’s stock, down from their prior target price of $33.00. Sanford C. Bernstein’s target price suggests a potential upside of 14.39% from the stock’s current price.

A number of other equities analysts also recently commented on STM. Susquehanna reduced their price objective on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a research report on Friday, January 31st. Craig Hallum decreased their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Morgan Stanley downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Citigroup raised STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Finally, BNP Paribas initiated coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.26.

STMicroelectronics Stock Up 1.9 %

STMicroelectronics stock opened at $22.73 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The business’s 50-day simple moving average is $25.03 and its two-hundred day simple moving average is $27.61. The company has a market cap of $20.53 billion, a PE ratio of 13.69, a PEG ratio of 0.76 and a beta of 1.51. STMicroelectronics has a fifty-two week low of $21.36 and a fifty-two week high of $49.05.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Equities analysts anticipate that STMicroelectronics will post 1.04 EPS for the current year.

Hedge Funds Weigh In On STMicroelectronics

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings in shares of STMicroelectronics by 26.5% during the third quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after buying an additional 1,719,257 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of STMicroelectronics by 674.2% during the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock valued at $41,524,000 after buying an additional 1,216,300 shares during the period. Mediolanum International Funds Ltd acquired a new stake in shares of STMicroelectronics during the 3rd quarter valued at $7,642,000. International Assets Investment Management LLC acquired a new stake in shares of STMicroelectronics during the 3rd quarter valued at $4,158,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of STMicroelectronics in the 4th quarter valued at $1,738,000. 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.