STMicroelectronics (NYSE:STM – Get Free Report)’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.
Get Our Latest Report on STMicroelectronics
STMicroelectronics Trading Down 1.8 %
STMicroelectronics (NYSE:STM – Get Free Report) 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.
Recommended Stories
- Five stocks we like better than STMicroelectronics
- Market Cap Calculator: How to Calculate Market Cap
- Stock Impact: McDonald’s Price War with Starbucks, Wendy’s
- How to Use the MarketBeat Dividend Calculator
- General Mills Q4 Sales Miss Expectations, Triggering Stock Drop
- There Are Different Types of Stock To Invest In
- Enovix Stock Rises 35% in Short-Squeeze: This Rally Has Legs
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.