STMicroelectronics (NYSE:STM) Trading Down 3.3% – Here’s Why

STMicroelectronics N.V. (NYSE:STMGet Free Report) shares traded down 3.3% during trading on Thursday . The stock traded as low as $66.78 and last traded at $68.39. 16,840,559 shares changed hands during trading, an increase of 61% from the average daily volume of 10,434,512 shares. The stock had previously closed at $70.72.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on STM. UBS Group set a $100.00 price objective on STMicroelectronics in a report on Wednesday, June 10th. Bank of America raised STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, June 10th. TD Cowen restated a “hold” rating on shares of STMicroelectronics in a research report on Friday, April 24th. Robert W. Baird set a $90.00 price target on STMicroelectronics in a research report on Friday, April 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of STMicroelectronics in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.39.

View Our Latest Analysis on STM

STMicroelectronics Stock Performance

The stock has a fifty day simple moving average of $67.46 and a two-hundred day simple moving average of $44.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.34 and a current ratio of 3.31. The stock has a market cap of $61.43 billion, a price-to-earnings ratio of 427.46 and a beta of 1.93.

STMicroelectronics (NYSE:STMGet Free Report) last posted its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The company had revenue of $3.10 billion during the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%. Analysts expect that STMicroelectronics N.V. will post 1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Portus Wealth Advisors LLC bought a new stake in shares of STMicroelectronics during the 1st quarter valued at approximately $32,000. CIBC Private Wealth Group LLC lifted its stake in STMicroelectronics by 3,746.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock valued at $26,000 after purchasing an additional 974 shares during the last quarter. Abound Wealth Management bought a new position in STMicroelectronics in the 4th quarter valued at approximately $26,000. Public Employees Retirement System of Ohio acquired a new stake in STMicroelectronics in the first quarter valued at approximately $45,000. Finally, Advisory Services Network LLC acquired a new stake in STMicroelectronics in the third quarter valued at approximately $52,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Company Profile

(Get Free Report)

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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