Robert W. Baird cut shares of STMicroelectronics (NYSE:STM) from a neutral rating to an underperform rating in a report released on Thursday, MarketBeat Ratings reports.
Other research analysts have also recently issued research reports about the company. Deutsche Bank upgraded STMicroelectronics from a hold rating to a buy rating in a research note on Wednesday, September 26th. Craig Hallum reduced their price objective on STMicroelectronics from $30.00 to $28.00 and set a buy rating on the stock in a research note on Wednesday, July 25th. Zacks Investment Research upgraded STMicroelectronics from a hold rating to a buy rating and set a $25.00 price objective on the stock in a research note on Wednesday, June 27th. Baader Bank restated a hold rating on shares of STMicroelectronics in a research note on Wednesday. Finally, ValuEngine cut STMicroelectronics from a buy rating to a hold rating in a research note on Thursday, June 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $23.48.
Shares of STM opened at $13.88 on Thursday. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 2.00 and a beta of 0.72. STMicroelectronics has a 12 month low of $13.56 and a 12 month high of $26.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.65 and a current ratio of 2.36.
Several large investors have recently added to or reduced their stakes in STM. Summit Trail Advisors LLC lifted its stake in shares of STMicroelectronics by 2,312.8% in the first quarter. Summit Trail Advisors LLC now owns 109,277 shares of the semiconductor producer’s stock worth $109,000 after acquiring an additional 104,748 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of STMicroelectronics in the second quarter worth about $125,000. Mount Yale Investment Advisors LLC acquired a new position in shares of STMicroelectronics in the first quarter worth about $198,000. Marietta Investment Partners LLC acquired a new position in shares of STMicroelectronics in the second quarter worth about $202,000. Finally, BB&T Securities LLC acquired a new position in shares of STMicroelectronics in the second quarter worth about $214,000. Institutional investors and hedge funds own 4.20% of the company’s stock.
STMicroelectronics Company Profile
STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.
Featured Article: What are the Different Types of Leveraged Buyouts?
Receive News & Ratings for STMicroelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics and related companies with MarketBeat.com's FREE daily email newsletter.