STMicroelectronics (NYSE:STM) Shares Gap Down to $42.01

STMicroelectronics (NYSE:STM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $42.01, but opened at $40.17. STMicroelectronics shares last traded at $40.21, with a volume of 511,449 shares traded.

Analysts Set New Price Targets

STM has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their target price for the company from $35.50 to $45.80 in a report on Tuesday, June 18th. Susquehanna reiterated a “positive” rating and issued a $55.00 target price on shares of STMicroelectronics in a report on Monday, April 8th. William Blair restated a “market perform” rating on shares of STMicroelectronics in a research note on Friday, April 26th. Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, StockNews.com upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, STMicroelectronics presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.76.

STMicroelectronics Stock Performance

The company has a quick ratio of 2.58, a current ratio of 3.34 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average of $41.84 and a 200-day moving average of $42.98. The stock has a market cap of $35.69 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 3.78 and a beta of 1.59.

STMicroelectronics (NYSE:STM) last released its quarterly 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 return on equity of 22.95% and a net margin of 22.30%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the prior year, the business earned $1.10 EPS. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. On average, equities analysts forecast that STMicroelectronics will post 2.13 EPS for the current year.

Institutional Investors Weigh In On STMicroelectronics

A number of institutional investors have recently added to or reduced their stakes in STM. Van ECK Associates Corp boosted its holdings in STMicroelectronics by 55.3% in the 1st quarter. Van ECK Associates Corp now owns 5,800,911 shares of the semiconductor producer’s stock valued at $250,831,000 after purchasing an additional 2,065,387 shares in the last quarter. Lazard Asset Management LLC boosted 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 purchasing an additional 1,079,734 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in STMicroelectronics by 337.8% in the 4th quarter. Quadrature Capital Ltd now owns 510,834 shares of the semiconductor producer’s stock valued at $25,561,000 after purchasing an additional 394,147 shares in the last quarter. Grand Alliance Asset Management Ltd purchased a new stake in STMicroelectronics in the 4th quarter valued at approximately $14,036,000. Finally, Delta Global Management LP boosted its holdings in STMicroelectronics by 31.3% in the 1st quarter. Delta Global Management LP now owns 1,047,650 shares of the semiconductor producer’s stock valued at $45,300,000 after purchasing an additional 249,905 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.