STMicroelectronics (NYSE:STM) Receives “Positive” Rating from Susquehanna

Susquehanna restated their positive rating on shares of STMicroelectronics (NYSE:STM) in a report released on Thursday,Benzinga reports. The firm currently has a $33.00 price objective on the semiconductor producer’s stock.

STM has been the topic of several other reports. Robert W. Baird cut their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Sanford C. Bernstein dropped their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Craig Hallum lowered their price objective on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Stock Down 0.2 %

NYSE:STM opened at $24.48 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. The firm’s 50-day moving average price is $27.46 and its 200-day moving average price is $33.80. The company has a market capitalization of $22.12 billion, a PE ratio of 10.07, a P/E/G ratio of 2.98 and a beta of 1.57. STMicroelectronics has a 1-year low of $23.95 and a 1-year high of $51.27.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the prior year, the company earned $1.16 earnings per share. The business’s revenue was down 26.6% compared to the same quarter last year. On average, equities analysts predict that STMicroelectronics will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

Hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC bought a new position in shares of STMicroelectronics in the 3rd quarter valued at about $25,000. Archer Investment Corp purchased a new position in STMicroelectronics during the third quarter worth $30,000. Waldron Private Wealth LLC bought a new position in STMicroelectronics during the third quarter valued at $34,000. TD Private Client Wealth LLC raised its position in STMicroelectronics by 108.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after purchasing an additional 809 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in STMicroelectronics by 144.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after purchasing an additional 734 shares during the last quarter. 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.