STMicroelectronics (NYSE:STM) Lowered to “Underweight” Rating by Barclays

STMicroelectronics (NYSE:STM) was downgraded by stock analysts at Barclays from an “equal weight” rating to an “underweight” rating in a report released on Wednesday, Marketbeat.com reports.

Several other equities analysts have also recently issued reports on the company. TD Cowen cut STMicroelectronics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $32.00 to $25.00 in a research report on Monday, January 13th. Susquehanna reaffirmed a “positive” rating and set a $33.00 price target on shares of STMicroelectronics in a research note on Thursday, November 21st. BNP Paribas started coverage on shares of STMicroelectronics in a research note on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price objective for the company. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Craig Hallum decreased their target price on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, STMicroelectronics presently has a consensus rating of “Hold” and a consensus price target of $34.11.

STMicroelectronics Stock Up 1.6 %

Shares of NYSE:STM opened at $25.77 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. STMicroelectronics has a 52-week low of $23.66 and a 52-week high of $49.05. The firm has a market capitalization of $23.28 billion, a P/E ratio of 10.61, a P/E/G ratio of 4.47 and a beta of 1.52. The stock has a 50 day moving average price of $25.37 and a 200-day moving average price of $28.94.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STM. Dimensional Fund Advisors LP increased its stake in shares of STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after acquiring an additional 1,478,213 shares during the period. Hsbc Holdings PLC grew its position in STMicroelectronics by 28.8% during the 2nd quarter. Hsbc Holdings PLC now owns 12,025 shares of the semiconductor producer’s stock worth $473,000 after purchasing an additional 2,687 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in STMicroelectronics during the 2nd quarter worth about $356,000. Bank of Montreal Can raised its stake in shares of STMicroelectronics by 50.3% during the 2nd quarter. Bank of Montreal Can now owns 47,425 shares of the semiconductor producer’s stock valued at $1,903,000 after buying an additional 15,870 shares during the last quarter. Finally, Lighthouse Investment Partners LLC lifted its holdings in shares of STMicroelectronics by 25.0% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 50,000 shares of the semiconductor producer’s stock valued at $1,975,000 after buying an additional 10,000 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

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.