STMicroelectronics (STM) Shares Gap Down to $16.24

STMicroelectronics NV (NYSE:STM) gapped down prior to trading on Friday . The stock had previously closed at $15.87, but opened at $16.24. STMicroelectronics shares last traded at $15.82, with a volume of 348019 shares changing hands.

A number of brokerages have recently commented on STM. Craig Hallum lowered their price objective on STMicroelectronics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, July 25th. Zacks Investment Research raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, June 27th. ValuEngine downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. Deutsche Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Finally, Bank of America raised STMicroelectronics from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 13th. Two 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.15.

The firm has a market cap of $14.56 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 2.36 and a beta of 0.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.36 and a quick ratio of 1.65.

STMicroelectronics (NYSE:STM) last issued its earnings results on Wednesday, July 25th. The semiconductor producer reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). STMicroelectronics had a net margin of 11.48% and a return on equity of 20.69%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the business posted $0.17 EPS. STMicroelectronics’s revenue was up 18.0% compared to the same quarter last year. As a group, research analysts expect that STMicroelectronics NV will post 1.38 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of STM. Summit Trail Advisors LLC boosted its holdings in STMicroelectronics by 2,312.8% in the first quarter. Summit Trail Advisors LLC now owns 109,277 shares of the semiconductor producer’s stock valued at $109,000 after acquiring an additional 104,748 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in STMicroelectronics in the first quarter valued at $113,000. Centaurus Financial Inc. acquired a new position in STMicroelectronics in the second quarter valued at $125,000. Mount Yale Investment Advisors LLC acquired a new position in shares of STMicroelectronics during the first quarter worth about $198,000. Finally, Marietta Investment Partners LLC acquired a new position in shares of STMicroelectronics during the second quarter worth about $202,000. Hedge funds and other institutional investors own 4.22% of the company’s stock.

About STMicroelectronics (NYSE:STM)

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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