STMicroelectronics (NYSE:STM) Downgraded to Market Perform Rating by Sanford C. Bernstein

STMicroelectronics (NYSE:STM) was downgraded by equities researchers at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a report issued on Wednesday,Finviz reports.

STM has been the subject of several other reports. TD Cowen downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating and decreased their price target for the company from $32.00 to $25.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. Barclays downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 22nd. Susquehanna decreased their price target on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a report on Friday, January 31st. Finally, Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, STMicroelectronics presently has a consensus rating of “Hold” and a consensus price target of $33.40.

STMicroelectronics Stock Up 3.3 %

Shares of NYSE STM opened at $22.36 on Wednesday. STMicroelectronics has a 52-week low of $21.36 and a 52-week high of $49.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The company’s 50 day moving average price is $25.14 and its 200-day moving average price is $27.68. The company has a market capitalization of $20.20 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 0.76 and a beta of 1.51.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Equities analysts forecast that STMicroelectronics will post 1.04 earnings per share for the current year.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its holdings in STMicroelectronics by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock worth $228,655,000 after acquiring an additional 1,719,257 shares during the period. Two Sigma Advisers LP increased its stake in STMicroelectronics by 674.2% in the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock worth $41,524,000 after acquiring an additional 1,216,300 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of STMicroelectronics during the 3rd quarter valued at about $7,642,000. Raymond James & Associates increased its position in shares of STMicroelectronics by 25.3% in the third quarter. Raymond James & Associates now owns 192,372 shares of the semiconductor producer’s stock worth $5,719,000 after purchasing an additional 38,874 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in STMicroelectronics during the third quarter valued at approximately $4,158,000. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.