STMicroelectronics (STM) Stock Rating Lowered by Zacks Investment Research

STMicroelectronics (NYSE:STM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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. “

Several other equities analysts have also commented on STM. ValuEngine lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. Craig Hallum decreased their price objective on shares of STMicroelectronics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, July 25th. Finally, Bank of America raised shares of STMicroelectronics from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $26.15.

NYSE:STM opened at $18.83 on Tuesday. STMicroelectronics has a fifty-two week low of $17.43 and a fifty-two week high of $26.43. The stock has a market capitalization of $17.07 billion, a PE ratio of 19.21, a PEG ratio of 2.77 and a beta of 0.76. The company has a current ratio of 2.36, a quick ratio of 1.65 and a debt-to-equity ratio of 0.28.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Wednesday, July 25th. The semiconductor producer reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.01). The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. STMicroelectronics had a net margin of 11.48% and a return on equity of 20.69%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. equities research analysts forecast that STMicroelectronics will post 1.38 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of STMicroelectronics by 6,533.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,246,613 shares of the semiconductor producer’s stock valued at $27,575,000 after purchasing an additional 1,227,821 shares during the last quarter. Cowen Inc. purchased a new position in STMicroelectronics during the 2nd quarter worth approximately $553,000. Pittenger & Anderson Inc. raised its position in STMicroelectronics by 52.5% during the 2nd quarter. Pittenger & Anderson Inc. now owns 30,500 shares of the semiconductor producer’s stock worth $675,000 after buying an additional 10,500 shares during the last quarter. PointState Capital LP purchased a new position in STMicroelectronics during the 2nd quarter worth approximately $73,538,000. Finally, Centaurus Financial Inc. purchased a new position in STMicroelectronics during the 2nd quarter worth approximately $125,000. 4.22% of the stock is owned by hedge funds and other institutional investors.

About STMicroelectronics

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.

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