Vetr Downgrades STMicroelectronics (STM) to Buy

STMicroelectronics (NYSE:STM) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday. They currently have a $27.76 target price on the semiconductor producer’s stock. Vetr‘s price objective would suggest a potential upside of 10.77% from the stock’s previous close.

Several other analysts have also recently commented on STM. Societe Generale assumed coverage on shares of STMicroelectronics in a research note on Wednesday. They set a “buy” rating on the stock. Craig Hallum increased their price target on shares of STMicroelectronics from $21.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. ValuEngine lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Credit Suisse Group upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating in a report on Thursday, January 11th. Finally, Zacks Investment Research upgraded shares of STMicroelectronics from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.05.

Shares of STMicroelectronics (NYSE:STM) opened at $25.06 on Friday. STMicroelectronics has a 52 week low of $11.54 and a 52 week high of $25.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.73 and a current ratio of 2.29. The company has a market cap of $22,800.00, a P/E ratio of 37.97, a PEG ratio of 3.91 and a beta of 0.79.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, October 26th. The semiconductor producer reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. STMicroelectronics had a net margin of 7.84% and a return on equity of 13.47%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the firm earned $0.11 earnings per share. STMicroelectronics’s revenue was up 18.9% compared to the same quarter last year. analysts anticipate that STMicroelectronics will post 0.93 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its holdings in STMicroelectronics by 5.0% in the second quarter. Quadrant Capital Group LLC now owns 9,105 shares of the semiconductor producer’s stock valued at $127,000 after buying an additional 433 shares during the period. CIBC World Markets Inc. lifted its holdings in STMicroelectronics by 8.1% in the second quarter. CIBC World Markets Inc. now owns 13,636 shares of the semiconductor producer’s stock valued at $196,000 after buying an additional 1,027 shares during the period. PNC Financial Services Group Inc. lifted its holdings in STMicroelectronics by 22.6% in the second quarter. PNC Financial Services Group Inc. now owns 9,573 shares of the semiconductor producer’s stock valued at $138,000 after buying an additional 1,765 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in STMicroelectronics by 2.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 88,934 shares of the semiconductor producer’s stock valued at $1,727,000 after buying an additional 2,392 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in STMicroelectronics by 15.6% in the third quarter. Eagle Asset Management Inc. now owns 24,055 shares of the semiconductor producer’s stock valued at $477,000 after buying an additional 3,238 shares during the period. Institutional investors and hedge funds own 5.09% of the company’s stock.

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About STMicroelectronics

STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.

Analyst Recommendations for STMicroelectronics (NYSE:STM)

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