STMicroelectronics (NYSE:STM) Raised to “Equal Weight” at Morgan Stanley

STMicroelectronics (NYSE:STM) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Thursday, Marketbeat Ratings reports.

STM has been the topic of several other reports. Craig Hallum dropped their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. TD Cowen lowered STMicroelectronics from a “buy” rating to a “hold” rating and decreased their price target for the company from $32.00 to $25.00 in a research note on Monday, January 13th. BNP Paribas assumed coverage on STMicroelectronics in a research note on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Finally, Robert W. Baird dropped their price objective on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.26.

STMicroelectronics Trading Up 2.3 %

Shares of NYSE STM opened at $24.46 on Thursday. The firm has a market capitalization of $22.09 billion, a PE ratio of 14.73, a PEG ratio of 0.97 and a beta of 1.51. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. STMicroelectronics has a one year low of $21.36 and a one year high of $49.05. The business has a 50-day moving average price of $24.71 and a two-hundred day moving average price of $27.04.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts predict that STMicroelectronics will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of STMicroelectronics

Hedge funds have recently made changes to their positions in the business. Creative Planning increased its stake in shares of STMicroelectronics by 10.9% during the third quarter. Creative Planning now owns 66,113 shares of the semiconductor producer’s stock worth $1,966,000 after purchasing an additional 6,509 shares during the period. Naviter Wealth LLC boosted its holdings in shares of STMicroelectronics by 25.5% during the 3rd quarter. Naviter Wealth LLC now owns 13,945 shares of the semiconductor producer’s stock valued at $416,000 after acquiring an additional 2,833 shares in the last quarter. Inspire Advisors LLC lifted its holdings in STMicroelectronics by 21.5% during the 3rd quarter. Inspire Advisors LLC now owns 15,760 shares of the semiconductor producer’s stock worth $469,000 after buying an additional 2,790 shares during the period. Blue Trust Inc. lifted its holdings in STMicroelectronics by 65.2% during the 3rd quarter. Blue Trust Inc. now owns 9,668 shares of the semiconductor producer’s stock worth $287,000 after buying an additional 3,814 shares during the period. Finally, Raymond James & Associates lifted its holdings in STMicroelectronics by 25.3% during the 3rd quarter. Raymond James & Associates now owns 192,372 shares of the semiconductor producer’s stock worth $5,719,000 after buying an additional 38,874 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

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.