STMicroelectronics (NYSE:STM) had its target price boosted by Craig Hallum from $28.00 to $34.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. Craig Hallum currently has a buy rating on the semiconductor producer’s stock.
A number of other research firms have also recently issued reports on STM. Cowen increased their price target on STMicroelectronics from $23.00 to $26.00 and gave the stock an outperform rating in a report on Friday, October 25th. Zacks Investment Research raised shares of STMicroelectronics from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of STMicroelectronics in a research report on Monday, January 6th. They set a hold rating and a $30.00 price objective on the stock. Canaccord Genuity started coverage on shares of STMicroelectronics in a research report on Wednesday, December 18th. They set a buy rating on the stock. Finally, ValuEngine cut shares of STMicroelectronics from a hold rating to a sell rating in a research report on Saturday, January 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $24.04.
Shares of STMicroelectronics stock traded up $0.10 on Thursday, hitting $30.14. 4,726,662 shares of the company’s stock traded hands, compared to its average volume of 2,450,948. STMicroelectronics has a one year low of $14.28 and a one year high of $30.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.87 and a quick ratio of 2.04. The company has a fifty day moving average of $27.14 and a two-hundred day moving average of $21.89. The company has a market capitalization of $25.44 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 3.94 and a beta of 1.43.
STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, January 23rd. The semiconductor producer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.69 billion. STMicroelectronics had a return on equity of 16.11% and a net margin of 11.20%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. Equities research analysts anticipate that STMicroelectronics will post 1.08 earnings per share for the current year.
In other news, insider Ascough Graham 4,000,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. bought a new position in STMicroelectronics during the second quarter valued at about $31,556,000. Morgan Stanley raised its holdings in shares of STMicroelectronics by 28.1% in the 2nd quarter. Morgan Stanley now owns 3,683,389 shares of the semiconductor producer’s stock worth $64,901,000 after purchasing an additional 808,642 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in STMicroelectronics in the first quarter valued at approximately $7,630,000. Bank of America Corp DE lifted its stake in STMicroelectronics by 100.3% in the second quarter. Bank of America Corp DE now owns 739,259 shares of the semiconductor producer’s stock valued at $13,025,000 after purchasing an additional 370,187 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in STMicroelectronics during the third quarter valued at $3,489,000. Hedge funds and other institutional investors own 3.08% of the company’s stock.
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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