STMicroelectronics (NYSE:STM) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of STMicroelectronics (NYSE:STM) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

A number of other analysts have also recently weighed in on STM. Craig Hallum reissued a “buy” rating and issued a $70.00 price objective on shares of STMicroelectronics in a research report on Thursday, July 23rd. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a research report on Monday, July 13th. UBS Group set a $100.00 price target on STMicroelectronics in a research note on Wednesday, June 10th. Bank of America raised STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, June 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of STMicroelectronics in a research note on Friday, August 21st. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, STMicroelectronics presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.17.

STMicroelectronics Trading Up 3.4%

NYSE STM opened at $50.27 on Friday. STMicroelectronics has a 52 week low of $21.11 and a 52 week high of $81.42. The company has a 50 day moving average price of $53.80 and a 200 day moving average price of $54.31. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.16. The firm has a market cap of $45.15 billion, a PE ratio of 98.58 and a beta of 1.93.

STMicroelectronics (NYSE:STM) last announced its earnings results on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.46 billion. As a group, sell-side analysts forecast that STMicroelectronics will post 1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

Several hedge funds have recently made changes to their positions in the company. Portus Wealth Advisors LLC acquired a new stake in STMicroelectronics during the 1st quarter worth about $32,000. Continuum Advisory LLC acquired a new position in shares of STMicroelectronics in the second quarter valued at about $34,000. Anchor Investment Management LLC acquired a new position in shares of STMicroelectronics in the second quarter valued at about $37,000. Public Employees Retirement System of Ohio purchased a new position in shares of STMicroelectronics in the first quarter worth about $45,000. Finally, MCF Advisors LLC purchased a new position in shares of STMicroelectronics in the second quarter worth about $57,000. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Company Profile

STMicroelectronics N.V. (NYSE: STM) is a global semiconductor company that designs, develops, manufactures and markets a broad range of integrated circuits and electronic components. Its products are used in automotive systems, industrial equipment, personal electronics, communications infrastructure and other embedded applications.

The company’s portfolio includes microcontrollers and microprocessors, analog and mixed-signal devices, power semiconductors, sensors, MEMS devices, connectivity products and automotive semiconductors.