Brokerages Set STMicroelectronics (NYSE:STM) Target Price at $37.63

Shares of STMicroelectronics (NYSE:STM) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $37.63.

A number of analysts have recently commented on STM shares. Robert W. Baird cut their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Craig Hallum lowered their target price on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Susquehanna reissued a “positive” rating and set a $33.00 price target on shares of STMicroelectronics in a research report on Thursday, November 21st. Finally, Morgan Stanley lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $25.76 on Friday. The company has a fifty day moving average price of $27.41 and a 200 day moving average price of $33.69. The firm has a market cap of $23.27 billion, a PE ratio of 10.60, a PEG ratio of 2.98 and a beta of 1.57. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. STMicroelectronics has a 1-year low of $23.95 and a 1-year high of $51.27.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. STMicroelectronics’s revenue for the quarter was down 26.6% compared to the same quarter last year. Research analysts predict that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

Several institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in STMicroelectronics by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after purchasing an additional 1,719,257 shares during the period. Dimensional Fund Advisors LP grew its position in STMicroelectronics by 177.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after buying an additional 1,478,213 shares in the last quarter. Two Sigma Advisers LP increased its stake in STMicroelectronics by 674.2% during the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock worth $41,524,000 after acquiring an additional 1,216,300 shares during the period. Lazard Asset Management LLC raised its holdings in STMicroelectronics by 1,564,831.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock valued at $46,690,000 after acquiring an additional 1,079,734 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of STMicroelectronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock valued at $25,469,000 after acquiring an additional 364,184 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.