STMicroelectronics (NYSE:STM) Stock Price Expected to Rise, TD Cowen Analyst Says

STMicroelectronics (NYSE:STM) had its price objective increased by equities researchers at TD Cowen from $18.00 to $23.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has a “hold” rating on the semiconductor producer’s stock. TD Cowen’s price target points to a potential downside of 1.25% from the stock’s previous close.

STM has been the subject of several other research reports. Barclays cut shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group raised STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Bank of America lowered STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Susquehanna lowered their price objective on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research report on Friday, January 31st. Finally, Sanford C. Bernstein cut shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $33.00 to $26.00 in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, STMicroelectronics has an average rating of “Hold” and an average price target of $30.97.

STMicroelectronics Trading Down 0.2 %

STM opened at $23.29 on Friday. The business has a fifty day simple moving average of $23.08 and a 200-day simple moving average of $24.69. STMicroelectronics has a 52 week low of $17.25 and a 52 week high of $45.39. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. The firm has a market cap of $20.92 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.16 and a beta of 1.56.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.55 billion. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, equities analysts expect that STMicroelectronics will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Clear Creek Financial Management LLC purchased a new stake in STMicroelectronics in the fourth quarter valued at $468,000. Callan Family Office LLC purchased a new stake in shares of STMicroelectronics in the 4th quarter valued at about $486,000. Raymond James Financial Inc. acquired a new stake in shares of STMicroelectronics in the 4th quarter valued at about $1,738,000. Schechter Investment Advisors LLC purchased a new position in STMicroelectronics during the 4th quarter worth approximately $758,000. Finally, Diversified Trust Co acquired a new position in STMicroelectronics during the fourth quarter worth approximately $583,000. Institutional investors and hedge funds 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.