Susquehanna Forecasts Strong Price Appreciation for STMicroelectronics (NYSE:STM) Stock

STMicroelectronics (NYSE:STM) had its price objective hoisted by Susquehanna from $35.00 to $40.00 in a report released on Wednesday, Marketbeat reports. The firm presently has a “positive” rating on the semiconductor producer’s stock. Susquehanna’s price target would suggest a potential upside of 57.95% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. BNP Paribas raised STMicroelectronics from a “hold” rating to an “outperform” rating in a research report on Thursday, September 4th. Robert W. Baird raised shares of STMicroelectronics from a “neutral” rating to an “outperform” rating and raised their price target for the company from $23.00 to $50.00 in a report on Tuesday, July 22nd. Weiss Ratings cut shares of STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Oddo Bhf upgraded shares of STMicroelectronics to an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Citigroup reaffirmed a “buy” rating on shares of STMicroelectronics in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.06.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $25.32 on Wednesday. The firm has a market cap of $22.75 billion, a P/E ratio of 36.70, a PEG ratio of 5.99 and a beta of 1.66. STMicroelectronics has a twelve month low of $17.25 and a twelve month high of $33.47. The company has a quick ratio of 1.96, a current ratio of 2.74 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $27.60 and a 200 day moving average of $26.80.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, July 24th. The semiconductor producer reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). STMicroelectronics had a return on equity of 4.55% and a net margin of 5.49%.The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, research analysts expect that STMicroelectronics will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

A number of hedge funds have recently modified their holdings of STM. ABC Arbitrage SA increased its stake in shares of STMicroelectronics by 55.1% in the 1st quarter. ABC Arbitrage SA now owns 95,851 shares of the semiconductor producer’s stock worth $2,105,000 after purchasing an additional 34,042 shares in the last quarter. Foresight Global Investors Inc. purchased a new stake in STMicroelectronics in the first quarter worth about $11,154,000. BNP Paribas Financial Markets increased its position in STMicroelectronics by 59.9% in the first quarter. BNP Paribas Financial Markets now owns 2,451,052 shares of the semiconductor producer’s stock worth $53,825,000 after buying an additional 918,263 shares in the last quarter. Ridgewood Investments LLC raised its stake in shares of STMicroelectronics by 325.1% in the first quarter. Ridgewood Investments LLC now owns 13,174 shares of the semiconductor producer’s stock worth $289,000 after buying an additional 10,075 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of STMicroelectronics by 40.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 62,873 shares of the semiconductor producer’s stock valued at $1,381,000 after buying an additional 18,030 shares in the last quarter. 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.