STMicroelectronics (NYSE:STM) Price Target Cut to $42.00 by Analysts at Craig Hallum

STMicroelectronics (NYSE:STM) had its price target reduced by analysts at Craig Hallum from $48.00 to $42.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor producer’s stock. Craig Hallum’s price target suggests a potential upside of 20.83% from the stock’s previous close.

A number of other research firms have also recently issued reports on STM. William Blair reiterated a “market perform” rating on shares of STMicroelectronics in a research note on Friday, April 26th. Susquehanna reissued a “positive” rating and issued a $55.00 price target on shares of STMicroelectronics in a report on Monday, April 8th. The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $35.50 to $45.80 in a research report on Tuesday, June 18th. Berenberg Bank raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Finally, StockNews.com raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, STMicroelectronics has an average rating of “Moderate Buy” and a consensus price target of $48.56.

STMicroelectronics Price Performance

STM traded down $4.78 during midday trading on Thursday, reaching $34.76. 6,292,830 shares of the company’s stock were exchanged, compared to its average volume of 3,468,867. The firm has a market capitalization of $31.40 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 3.78 and a beta of 1.59. The company has a quick ratio of 2.58, a current ratio of 3.34 and a debt-to-equity ratio of 0.17. STMicroelectronics has a one year low of $34.39 and a one year high of $55.85. The business has a 50-day simple moving average of $41.84 and a two-hundred day simple moving average of $42.98.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the firm posted $1.10 EPS. The business’s revenue was down 18.4% on a year-over-year basis. As a group, research analysts predict that STMicroelectronics will post 2.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in STMicroelectronics by 16.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock valued at $38,572,000 after purchasing an additional 109,477 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of STMicroelectronics by 374.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock valued at $1,644,000 after acquiring an additional 29,999 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of STMicroelectronics by 5.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock valued at $118,772,000 after acquiring an additional 120,399 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of STMicroelectronics during the 1st quarter worth $554,000. Finally, Paradigm Asset Management Co. LLC bought a new stake in shares of STMicroelectronics during the 4th quarter worth $980,000. 5.05% of the stock is owned by institutional investors and hedge funds.

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.