STMicroelectronics (NYSE:STM) Upgraded by Barclays to Equal Weight Rating

STMicroelectronics (NYSE:STM) was upgraded by equities research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued on Monday, MarketBeat.com reports.

A number of other equities research analysts have also weighed in on STM. Bank of America upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, June 10th. Citigroup reaffirmed a “buy” rating on shares of STMicroelectronics in a research report on Sunday, April 26th. Mizuho boosted their price target on STMicroelectronics from $68.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Weiss Ratings raised STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, UBS Group set a $100.00 price objective on STMicroelectronics in a report on Wednesday, June 10th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.39.

STMicroelectronics Price Performance

STM opened at $71.37 on Monday. The business has a fifty day moving average of $64.70 and a 200 day moving average of $42.86. The stock has a market cap of $64.11 billion, a P/E ratio of 446.12 and a beta of 1.94. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. STMicroelectronics has a 52-week low of $21.11 and a 52-week high of $81.42.

STMicroelectronics (NYSE:STM) last released its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share for the quarter. The business had revenue of $3.10 billion for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%. As a group, sell-side analysts anticipate that STMicroelectronics will post 1.17 EPS for the current year.

Hedge Funds Weigh In On STMicroelectronics

Several institutional investors have recently bought and sold shares of STM. Abound Wealth Management purchased a new position in shares of STMicroelectronics in the 4th quarter valued at $26,000. CIBC Private Wealth Group LLC boosted its position in STMicroelectronics by 3,746.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock valued at $26,000 after purchasing an additional 974 shares in the last quarter. Portus Wealth Advisors LLC purchased a new position in STMicroelectronics in the first quarter valued at about $32,000. Public Employees Retirement System of Ohio bought a new position in STMicroelectronics in the first quarter worth about $45,000. Finally, Advisory Services Network LLC purchased a new stake in shares of STMicroelectronics during the third quarter valued at about $52,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

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.