STMicroelectronics N.V. (NYSE:STM – Get Free Report)’s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $58.72, but opened at $55.24. STMicroelectronics shares last traded at $56.4070, with a volume of 2,610,642 shares traded.
Analyst Ratings Changes
Several analysts recently issued reports on STM shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of STMicroelectronics in a report on Thursday, June 11th. Wall Street Zen downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. TD Cowen restated a “hold” rating on shares of STMicroelectronics in a research note on Monday, July 13th. The Goldman Sachs Group reduced their price target on shares of STMicroelectronics from $67.50 to $60.50 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Finally, Craig Hallum reiterated a “buy” rating and issued a $70.00 price target on shares of STMicroelectronics in a research note on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $76.17.
STMicroelectronics Stock Down 6.2%
STMicroelectronics (NYSE:STM – Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The semiconductor producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.46 billion. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. On average, sell-side analysts predict that STMicroelectronics N.V. will post 1.3 earnings per share for the current fiscal year.
Institutional Trading of STMicroelectronics
Several hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in STMicroelectronics by 8.2% in the third quarter. GAMMA Investing LLC now owns 4,559 shares of the semiconductor producer’s stock valued at $243,000 after buying an additional 346 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in STMicroelectronics by 23.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,284 shares of the semiconductor producer’s stock valued at $495,000 after purchasing an additional 1,755 shares during the period. Eastern Bank grew its position in STMicroelectronics by 2.9% in the 3rd quarter. Eastern Bank now owns 7,046 shares of the semiconductor producer’s stock worth $376,000 after purchasing an additional 196 shares during the last quarter. Silverleafe Capital Partners LLC acquired a new stake in shares of STMicroelectronics in the third quarter valued at approximately $1,113,000. Finally, Confluence Investment Management LLC bought a new stake in shares of STMicroelectronics during the third quarter valued at approximately $1,334,000. Institutional investors own 5.05% of the company’s stock.
STMicroelectronics Company Profile
STMicroelectronics N.V. (NYSE: STM) is a global semiconductor company that designs, develops, manufactures and markets a broad range of electronic components and solutions. Its products support applications in automotive, industrial, personal electronics, communications infrastructure and other technology markets.
The company’s portfolio includes microcontrollers, microprocessors, analog and mixed-signal integrated circuits, power semiconductors, sensors, MEMS devices, connectivity products and embedded-processing solutions.
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