Susquehanna Lowers STMicroelectronics (NYSE:STM) Price Target to $35.00

STMicroelectronics (NYSE:STM) had its price target cut by investment analysts at Susquehanna from $45.00 to $35.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “positive” rating on the semiconductor producer’s stock. Susquehanna’s target price would suggest a potential upside of 26.54% from the stock’s previous close.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Morgan Stanley lowered shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. TD Cowen lowered their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Craig Hallum lowered their price target on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

STMicroelectronics Trading Up 0.8 %

Shares of STM opened at $27.66 on Monday. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average is $29.19 and its two-hundred day moving average is $36.19. STMicroelectronics has a twelve month low of $26.63 and a twelve month high of $51.27. The firm has a market capitalization of $24.99 billion, a P/E ratio of 7.09, a PEG ratio of 3.44 and a beta of 1.57.

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

Hedge Funds Weigh In On STMicroelectronics

Several institutional investors and hedge funds have recently modified their holdings of STM. Fisher Asset Management LLC raised its stake 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 purchasing an additional 2,505 shares during the period. Mather Group LLC. purchased a new position in STMicroelectronics during the first quarter worth approximately $28,000. Ballentine Partners LLC raised its stake in STMicroelectronics by 14.1% during the first quarter. Ballentine Partners LLC now owns 10,536 shares of the semiconductor producer’s stock worth $456,000 after purchasing an additional 1,298 shares during the period. Capital Advisors Wealth Management LLC raised its stake in STMicroelectronics by 8.2% during the first quarter. Capital Advisors Wealth Management LLC now owns 4,822 shares of the semiconductor producer’s stock worth $209,000 after purchasing an additional 365 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in STMicroelectronics by 41.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,026 shares of the semiconductor producer’s stock worth $520,000 after purchasing an additional 3,542 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.