STMicroelectronics (NYSE:STM) Shares Gap Down to $40.10

STMicroelectronics (NYSE:STM)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $40.10, but opened at $39.21. STMicroelectronics shares last traded at $39.54, with a volume of 332,681 shares traded.

Analysts Set New Price Targets

STM has been the topic of several analyst reports. Susquehanna reaffirmed a “positive” rating and issued a $55.00 target price on shares of STMicroelectronics in a research note on Monday, April 8th. StockNews.com raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. William Blair restated a “market perform” rating on shares of STMicroelectronics in a report on Friday, April 26th. The Goldman Sachs Group upgraded shares of 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. Finally, Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, STMicroelectronics has a consensus rating of “Moderate Buy” and an average price target of $49.76.

STMicroelectronics Trading Down 1.8 %

The company has a 50 day moving average of $41.59 and a two-hundred day moving average of $44.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.58 and a current ratio of 3.34. The stock has a market capitalization of $35.54 billion, a PE ratio of 10.15, a P/E/G ratio of 3.77 and a beta of 1.62.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $3.61 billion. During the same quarter last year, the company earned $1.10 EPS. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis. Sell-side analysts predict that STMicroelectronics will post 2.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in shares of STMicroelectronics in the first quarter worth about $28,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of STMicroelectronics in the fourth quarter valued at approximately $40,000. GAMMA Investing LLC acquired a new stake in shares of STMicroelectronics in the fourth quarter valued at approximately $48,000. Headlands Technologies LLC lifted its position in STMicroelectronics by 74.9% during the fourth quarter. Headlands Technologies LLC now owns 1,221 shares of the semiconductor producer’s stock worth $61,000 after buying an additional 523 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in STMicroelectronics during the fourth quarter worth $70,000. 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.