STMicroelectronics (NYSE:STM) Price Target Cut to $40.00 by Analysts at TD Cowen

STMicroelectronics (NYSE:STM) had its price target cut by TD Cowen from $50.00 to $40.00 in a report released on Friday, MarketBeat reports. They currently have a buy rating on the semiconductor producer’s stock.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group upgraded shares of STMicroelectronics from a sell rating to a neutral rating and boosted their price objective for the stock from $35.50 to $45.80 in a research report on Tuesday, June 18th. Morgan Stanley downgraded shares of STMicroelectronics from an overweight rating to an equal weight rating in a report on Friday. William Blair reiterated a market perform rating on shares of STMicroelectronics in a research report on Friday, April 26th. StockNews.com raised STMicroelectronics from a hold rating to a buy rating in a research note on Wednesday, June 12th. Finally, Susquehanna reissued a positive rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $43.56.

STMicroelectronics Price Performance

Shares of NYSE:STM opened at $33.99 on Friday. 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 company has a 50-day moving average price of $41.52 and a 200 day moving average price of $42.83. STMicroelectronics has a 52 week low of $33.16 and a 52 week high of $55.85. The company has a market cap of $30.70 billion, a P/E ratio of 8.71, a PEG ratio of 3.14 and a beta of 1.59.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. STMicroelectronics had a return on equity of 18.35% and a net margin of 19.68%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the business earned $1.06 earnings per share. The company’s revenue for the quarter was down 25.3% compared to the same quarter last year. Research analysts predict that STMicroelectronics will post 2.13 earnings per share for the current year.

Hedge Funds Weigh In On STMicroelectronics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in shares of STMicroelectronics by 16.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock worth $38,572,000 after buying an additional 109,477 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of STMicroelectronics by 374.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock worth $1,644,000 after purchasing an additional 29,999 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of STMicroelectronics by 5.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock valued at $118,772,000 after purchasing an additional 120,399 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of STMicroelectronics during the 1st quarter worth about $554,000. Finally, Paradigm Asset Management Co. LLC acquired a new stake in STMicroelectronics during the 4th quarter worth approximately $980,000. Institutional investors and hedge funds 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.