STMicroelectronics (NYSE:STM) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of STMicroelectronics (NYSE:STM) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.

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 equities research analysts also recently issued reports on STM. Craig Hallum reaffirmed a buy rating and issued a $22.00 price target (up from $20.00) on shares of STMicroelectronics in a research report on Wednesday, April 24th. Kepler Capital Markets raised STMicroelectronics from a hold rating to a buy rating in a research report on Wednesday, May 15th. Bank of America raised STMicroelectronics from a neutral rating to a buy rating and set a $14.92 price target on the stock in a research report on Friday, May 31st. Morgan Stanley began coverage on STMicroelectronics in a research report on Wednesday, June 19th. They issued an overweight rating and a $16.11 price target on the stock. Finally, Credit Suisse Group reaffirmed a buy rating on shares of STMicroelectronics in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $18.02.

Shares of NYSE:STM opened at $18.04 on Tuesday. The company has a market cap of $16.33 billion, a P/E ratio of 12.62, a P/E/G ratio of 3.52 and a beta of 1.35. The stock’s 50-day moving average is $17.97 and its 200-day moving average is $16.98. STMicroelectronics has a 52-week low of $12.00 and a 52-week high of $21.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.90 and a current ratio of 2.77.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.11 billion. STMicroelectronics had a net margin of 11.94% and a return on equity of 17.59%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 earnings per share. As a group, equities analysts predict that STMicroelectronics will post 1.02 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC grew its position in STMicroelectronics by 28.3% during the first quarter. Atlas Capital Advisors LLC now owns 20,209 shares of the semiconductor producer’s stock worth $300,000 after buying an additional 4,459 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new stake in STMicroelectronics during the first quarter worth about $1,856,000. Advisor Partners LLC acquired a new stake in STMicroelectronics during the first quarter worth about $184,000. Penserra Capital Management LLC grew its position in STMicroelectronics by 50.0% during the first quarter. Penserra Capital Management LLC now owns 3,327 shares of the semiconductor producer’s stock worth $49,000 after buying an additional 1,109 shares in the last quarter. Finally, NumerixS Investment Technologies Inc acquired a new stake in STMicroelectronics during the first quarter worth about $410,000. 3.31% of the stock is currently owned by institutional investors and hedge funds.

About STMicroelectronics

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.

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