STMicroelectronics (STM) Cut to Strong Sell at ValuEngine

STMicroelectronics (NYSE:STM) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Monday.

A number of other analysts have also recently issued reports on STM. Zacks Investment Research upgraded STMicroelectronics from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, June 27th. Craig Hallum lowered their price objective on STMicroelectronics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. Bank of America upgraded STMicroelectronics from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 13th. Finally, Deutsche Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Two investment 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 stock presently has an average rating of “Hold” and a consensus target price of $26.15.

Shares of STM traded down $0.37 on Monday, reaching $17.19. 3,739,800 shares of the stock traded hands, compared to its average volume of 3,546,125. The stock has a market cap of $16.44 billion, a PE ratio of 17.54, a P/E/G ratio of 2.67 and a beta of 0.72. 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 has a 12 month low of $16.94 and a 12 month high of $26.43.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Wednesday, July 25th. The semiconductor producer reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Equities analysts forecast that STMicroelectronics will post 1.38 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in STM. Summit Trail Advisors LLC grew its position 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 period. Financial Gravity Wealth Inc. bought a new stake in STMicroelectronics in the first quarter valued at $113,000. Centaurus Financial Inc. bought a new stake in STMicroelectronics in the second quarter valued at $125,000. Mount Yale Investment Advisors LLC bought a new stake in STMicroelectronics in the first quarter valued at $198,000. Finally, Marietta Investment Partners LLC bought a new stake in STMicroelectronics in the second quarter valued at $202,000. Hedge funds and other institutional investors own 4.22% of the company’s stock.

STMicroelectronics Company Profile

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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