STMicroelectronics (NYSE:STM) Given New $50.00 Price Target at TD Cowen

STMicroelectronics (NYSE:STM) had its target price cut by research analysts at TD Cowen from $55.00 to $50.00 in a report released on Monday, Benzinga reports. The firm currently has a “hold” rating on the semiconductor producer’s stock. TD Cowen’s target price would suggest a potential upside of 9.61% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of STMicroelectronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of STMicroelectronics in a research note on Tuesday, June 30th. Wall Street Zen cut STMicroelectronics from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Barclays set a $60.00 price objective on STMicroelectronics in a research note on Friday, July 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of STMicroelectronics in a research note on Friday, August 21st. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $76.17.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $45.62 on Monday. 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 firm has a fifty day moving average of $51.46 and a 200 day moving average of $57.31. The firm has a market cap of $40.97 billion, a PE ratio of 89.44 and a beta of 1.96. STMicroelectronics has a one year low of $21.11 and a one year high of $81.42.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share (EPS) 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 business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.46 billion. As a group, research analysts predict that STMicroelectronics will post 1.30 EPS for the current fiscal year.

Institutional Trading of STMicroelectronics

Hedge funds have recently bought and sold shares of the business. Situational Awareness LP purchased a new position in STMicroelectronics in the 2nd quarter worth approximately $584,344,000. Annex Advisory Services LLC purchased a new stake in shares of STMicroelectronics in the third quarter valued at approximately $38,877,000. The Manufacturers Life Insurance Company acquired a new stake in shares of STMicroelectronics in the first quarter valued at approximately $19,132,000. Generate Investment Management Ltd acquired a new stake in shares of STMicroelectronics in the third quarter valued at approximately $15,857,000. Finally, Beaconlight Capital LLC acquired a new stake in shares of STMicroelectronics in the first quarter valued at approximately $13,284,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

About STMicroelectronics

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

The company’s product portfolio includes microcontrollers, analog and power semiconductors, sensors, microelectromechanical systems (MEMS), connectivity products and automotive chips.