STMicroelectronics (NYSE:STM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $15.00 price objective on the semiconductor producer’s stock. Zacks Investment Research‘s price target suggests a potential upside of 6.69% from the company’s previous close.
According to Zacks, “STMicroelectronics is a global independent semiconductor company which designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. “
Several other analysts also recently weighed in on STM. ValuEngine downgraded shares of STMicroelectronics from a “sell” rating to a “strong sell” rating in a report on Friday, January 4th. Credit Suisse Group reaffirmed a “buy” rating on shares of STMicroelectronics in a report on Monday, November 19th. Baader Bank reaffirmed a “hold” rating on shares of STMicroelectronics in a report on Wednesday, October 24th. Goldman Sachs Group reaffirmed a “hold” rating on shares of STMicroelectronics in a report on Wednesday, November 7th. Finally, Robert W. Baird downgraded shares of STMicroelectronics from a “neutral” rating to an “underperform” rating in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.15.
Shares of NYSE:STM opened at $14.06 on Thursday. The stock has a market capitalization of $12.45 billion, a PE ratio of 14.35, a PEG ratio of 2.07 and a beta of 1.03. The company has a current ratio of 2.54, a quick ratio of 1.81 and a debt-to-equity ratio of 0.27. STMicroelectronics has a fifty-two week low of $12.00 and a fifty-two week high of $26.43.
STMicroelectronics (NYSE:STM) last issued its earnings results on Wednesday, October 24th. The semiconductor producer reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.50 billion. STMicroelectronics had a net margin of 12.41% and a return on equity of 21.97%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, equities analysts predict that STMicroelectronics will post 1.39 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its holdings in STMicroelectronics by 13.5% during the third quarter. Bank of Montreal Can now owns 41,678 shares of the semiconductor producer’s stock worth $764,000 after buying an additional 4,957 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in STMicroelectronics during the second quarter worth about $125,000. Crossmark Global Holdings Inc. boosted its holdings in STMicroelectronics by 13.1% during the third quarter. Crossmark Global Holdings Inc. now owns 59,639 shares of the semiconductor producer’s stock worth $1,094,000 after buying an additional 6,931 shares in the last quarter. BB&T Securities LLC purchased a new stake in STMicroelectronics during the second quarter worth about $214,000. Finally, Advent Capital Management DE purchased a new stake in STMicroelectronics during the third quarter worth about $183,000. 3.73% of the stock is currently owned by hedge funds and other institutional investors.
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.
See Also: How to Invest in an Index Fund
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for STMicroelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics and related companies with MarketBeat.com's FREE daily email newsletter.