STMicroelectronics (NYSE:STM) Downgraded by Bank of America to Neutral

STMicroelectronics (NYSE:STM) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday,Briefing.com Automated Import reports.

Several other research analysts have also recently issued reports on the company. Robert W. Baird dropped their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. TD Cowen cut shares of STMicroelectronics from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $25.00 in a report on Monday, January 13th. Sanford C. Bernstein downgraded shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $33.00 to $26.00 in a research report on Wednesday. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Barclays downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.26.

STMicroelectronics Trading Down 0.4 %

Shares of NYSE STM opened at $22.29 on Thursday. The firm’s 50 day moving average price is $25.08 and its 200-day moving average price is $27.65. STMicroelectronics has a 52-week low of $21.36 and a 52-week high of $49.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The company has a market cap of $20.13 billion, a PE ratio of 13.42, a P/E/G ratio of 0.76 and a beta of 1.51.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, equities research analysts expect that STMicroelectronics will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

Several institutional investors have recently bought and sold shares of STM. Truvestments Capital LLC purchased a new stake in STMicroelectronics in the 3rd quarter worth about $25,000. Archer Investment Corp purchased a new stake in STMicroelectronics in the third quarter worth $30,000. GAMMA Investing LLC lifted its holdings in STMicroelectronics by 81.4% during the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after buying an additional 531 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in STMicroelectronics in the 4th quarter valued at about $31,000. Finally, Smartleaf Asset Management LLC increased its position in shares of STMicroelectronics by 225.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock worth $33,000 after acquiring an additional 921 shares during the period. Institutional investors own 5.05% of the company’s stock.

About STMicroelectronics

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.