STMicroelectronics (NYSE:STM) Raised to Equal Weight at Morgan Stanley

STMicroelectronics (NYSE:STM) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report issued on Thursday,Briefing.com Automated Import reports.

STM has been the topic of several other research reports. Sanford C. Bernstein lowered STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $33.00 to $26.00 in a research report on Wednesday, February 5th. Bank of America cut shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Susquehanna lowered their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a report on Friday, January 31st. Robert W. Baird cut their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, TD Cowen cut shares of STMicroelectronics from a “buy” rating to a “hold” rating and reduced their price target for the company from $32.00 to $25.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.26.

STMicroelectronics Trading Up 2.7 %

NYSE STM opened at $23.52 on Thursday. STMicroelectronics has a one year low of $21.36 and a one year high of $49.05. The firm has a 50 day simple moving average of $24.79 and a 200-day simple moving average of $27.12. The firm has a market cap of $21.25 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.97 and a beta of 1.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, topping 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 research analysts anticipate that STMicroelectronics will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in shares of STMicroelectronics in the third quarter valued at approximately $25,000. Archer Investment Corp acquired a new stake in STMicroelectronics in the third quarter valued at $30,000. Waldron Private Wealth LLC purchased a new stake in shares of STMicroelectronics during the 3rd quarter worth $34,000. GAMMA Investing LLC grew its stake in shares of STMicroelectronics by 81.4% during the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 531 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of STMicroelectronics in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

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.