Zacks Investment Research upgraded shares of STMicroelectronics (NYSE:STM) from a hold rating to a buy rating in a report published on Friday morning, Zacks.com reports. The firm currently has $20.00 price objective on the semiconductor producer’s stock.
According to Zacks, “STMicroelectronics is a global independent semiconductor company which designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. “
Other equities research analysts also recently issued research reports about the stock. Goldman Sachs Group reaffirmed a hold rating and issued a $116.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a report on Thursday, April 25th. Morgan Stanley reaffirmed an overweight rating on shares of in a report on Wednesday, June 19th. Kepler Capital Markets raised shares of STMicroelectronics from a hold rating to a buy rating in a report on Wednesday, May 15th. ValuEngine downgraded shares of Lendingtree from a buy rating to a hold rating in a report on Tuesday, April 2nd. Finally, Credit Suisse Group reaffirmed a buy rating on shares of STMicroelectronics in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $17.59.
STMicroelectronics stock opened at $17.80 on Friday. The business’s 50-day moving average price is $16.71. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 3.38 and a beta of 1.37. The company has a quick ratio of 2.06, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. STMicroelectronics has a one year low of $12.00 and a one year high of $24.40.
STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor producer reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.13 billion. STMicroelectronics had a return on equity of 19.85% and a net margin of 12.89%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. As a group, research analysts expect that STMicroelectronics will post 1.06 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of STM. Arlington Partners LLC bought a new stake in shares of STMicroelectronics in the second quarter valued at approximately $34,000. Amundi Pioneer Asset Management Inc. bought a new position in STMicroelectronics in the first quarter worth $7,630,000. Marshall Wace North America L.P. lifted its position in STMicroelectronics by 130.4% in the first quarter. Marshall Wace North America L.P. now owns 201,745 shares of the semiconductor producer’s stock worth $2,996,000 after purchasing an additional 114,173 shares during the period. KCL Capital L.P. bought a new position in STMicroelectronics in the first quarter worth $18,562,000. Finally, Dynamic Capital Management Ltd bought a new position in STMicroelectronics in the first quarter worth $328,000. 3.40% of the stock is owned by institutional investors.
STMicroelectronics Company Profile
STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.
See Also: Dividend Achievers
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for STMicroelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics and related companies with MarketBeat.com's FREE daily email newsletter.