STMicroelectronics (NYSE:STM) Stock Rating Lowered by Barclays

STMicroelectronics (NYSE:STM) was downgraded by Barclays from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Wednesday, Marketbeat reports.

A number of other equities research analysts have also recently commented on STM. JPMorgan Chase & Co. reissued a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. Robert W. Baird decreased their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. BNP Paribas initiated coverage on shares of STMicroelectronics in a research note on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price objective on the stock. Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Finally, Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.11.

STMicroelectronics Stock Performance

NYSE:STM opened at $25.76 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. STMicroelectronics has a twelve month low of $23.66 and a twelve month high of $49.05. The company has a fifty day moving average of $25.36 and a 200-day moving average of $28.89. The firm has a market capitalization of $23.27 billion, a P/E ratio of 10.60, a P/E/G ratio of 4.54 and a beta of 1.52.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.04. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business’s revenue was down 26.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 earnings per share. As a group, sell-side analysts anticipate that STMicroelectronics will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in shares of STMicroelectronics by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock worth $228,655,000 after buying an additional 1,719,257 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after acquiring an additional 1,478,213 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of STMicroelectronics by 674.2% during the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock valued at $41,524,000 after acquiring an additional 1,216,300 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of STMicroelectronics during the 3rd quarter worth approximately $7,642,000. Finally, Raymond James & Associates raised its holdings in shares of STMicroelectronics by 25.3% in the 3rd quarter. Raymond James & Associates now owns 192,372 shares of the semiconductor producer’s stock worth $5,719,000 after purchasing an additional 38,874 shares during the period. Institutional investors own 5.05% of the company’s stock.

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.