Zacks Research Downgrades STMicroelectronics (NYSE:STM) to Hold

STMicroelectronics (NYSE:STM) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on STM. Barclays set a $60.00 price objective on shares of STMicroelectronics in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research report on Thursday, June 11th. UBS Group set a $100.00 price target on shares of STMicroelectronics in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings raised shares of STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.65.

STMicroelectronics Stock Performance

NYSE:STM opened at $54.20 on Monday. The company has a market cap of $48.68 billion, a price-to-earnings ratio of 106.28 and a beta of 1.95. STMicroelectronics has a fifty-two week low of $21.11 and a fifty-two week high of $81.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.08 and a current ratio of 2.78. The stock has a fifty day moving average price of $68.24 and a 200-day moving average price of $49.74.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Friday, July 24th. The semiconductor producer reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.46 billion. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. As a group, equities analysts anticipate that STMicroelectronics will post 1.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of STM. Harrell Investment Partners LLC bought a new position in shares of STMicroelectronics in the second quarter worth about $225,000. Focus Financial Network Inc. bought a new stake in shares of STMicroelectronics during the 2nd quarter valued at approximately $332,000. Legacy Wealth Asset Management LLC grew its holdings in shares of STMicroelectronics by 0.5% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 34,613 shares of the semiconductor producer’s stock valued at $2,592,000 after purchasing an additional 167 shares during the last quarter. Alliance Wealth Advisors LLC acquired a new position in STMicroelectronics during the 2nd quarter worth approximately $225,000. Finally, Valeo Financial Advisors LLC acquired a new position in STMicroelectronics during the 2nd quarter worth approximately $299,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Company Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.