STMicroelectronics (NYSE:STM – Get Free Report) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has a $100.00 price objective on the semiconductor producer’s stock. Bank of America‘s target price suggests a potential upside of 36.33% from the stock’s previous close.
A number of other research firms have also issued reports on STM. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of STMicroelectronics in a research note on Friday, May 15th. Weiss Ratings upgraded shares of STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Susquehanna increased their price objective on STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a research report on Monday, February 23rd. TD Cowen reissued a “hold” rating on shares of STMicroelectronics in a research report on Friday, April 24th. Finally, UBS Group set a $100.00 price objective on STMicroelectronics in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.39.
Read Our Latest Research Report on STMicroelectronics
STMicroelectronics Stock Performance
STMicroelectronics (NYSE:STM – Get Free Report) last posted its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share (EPS) for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. The business had revenue of $3.10 billion for the quarter. On average, sell-side analysts anticipate that STMicroelectronics will post 1.17 EPS for the current year.
Institutional Trading of STMicroelectronics
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Abound Wealth Management bought a new position in shares of STMicroelectronics during the 4th quarter worth about $26,000. CIBC Private Wealth Group LLC lifted its holdings in shares of STMicroelectronics by 3,746.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock worth $26,000 after acquiring an additional 974 shares during the period. Portus Wealth Advisors LLC bought a new position in shares of STMicroelectronics during the 1st quarter worth about $32,000. Public Employees Retirement System of Ohio bought a new position in shares of STMicroelectronics during the 1st quarter worth about $45,000. Finally, Advisory Services Network LLC bought a new position in shares of STMicroelectronics during the 3rd quarter worth about $52,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.
STMicroelectronics Company Profile
STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.
Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.
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