STMicroelectronics (NYSE:STM) Shares Down 3.2% – Here’s Why

STMicroelectronics (NYSE:STM) shares traded down 3.2% during mid-day trading on Thursday . The stock traded as low as $24.64 and last traded at $24.66. 584,236 shares were traded during trading, a decline of 88% from the average session volume of 4,769,320 shares. The stock had previously closed at $25.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on STM shares. Morgan Stanley upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. Jefferies Financial Group upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Bank of America lowered STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Susquehanna cut their price objective on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a research report on Friday, January 31st. Finally, Barclays cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.26.

STMicroelectronics Stock Performance

The stock has a market capitalization of $21.59 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.16 and a beta of 1.56. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average price of $24.69 and a 200-day moving average price of $26.11.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, sell-side analysts expect that STMicroelectronics will post 0.85 EPS for the current year.

Institutional Trading of STMicroelectronics

A number of hedge funds have recently bought and sold shares of the company. Deutsche Bank AG increased its position in STMicroelectronics by 14.5% in the fourth quarter. Deutsche Bank AG now owns 3,682 shares of the semiconductor producer’s stock worth $92,000 after buying an additional 466 shares in the last quarter. Stifel Financial Corp grew its position in shares of STMicroelectronics by 0.7% during the third quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer’s stock worth $2,048,000 after purchasing an additional 493 shares in the last quarter. GAMMA Investing LLC grew its position in shares of STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 531 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of STMicroelectronics by 4.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,280 shares of the semiconductor producer’s stock worth $307,000 after purchasing an additional 539 shares in the last quarter. Finally, Moran Wealth Management LLC grew its position in shares of STMicroelectronics by 0.9% during the third quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer’s stock worth $2,039,000 after purchasing an additional 634 shares in the last quarter. Hedge funds and other 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.