STMicroelectronics (NYSE:STM) Rating Lowered to Equal Weight at Morgan Stanley

Morgan Stanley cut shares of STMicroelectronics (NYSE:STM) from an overweight rating to an equal weight rating in a research report report published on Friday, MarketBeat Ratings reports.

A number of other research analysts have also commented on the company. Susquehanna reiterated a positive rating and issued a $55.00 price objective on shares of STMicroelectronics in a research report on Monday, April 8th. William Blair reiterated a market perform rating on shares of STMicroelectronics in a research report on Friday, April 26th. StockNews.com upgraded STMicroelectronics from a hold rating to a buy rating in a research report on Wednesday, June 12th. Berenberg Bank upgraded STMicroelectronics from a hold rating to a buy rating in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group upgraded STMicroelectronics from a sell rating to a neutral rating and increased their price objective for the company from $35.50 to $45.80 in a research report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $43.56.

STMicroelectronics Stock Down 1.1 %

NYSE STM opened at $33.61 on Friday. The firm has a market cap of $30.36 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 3.38 and a beta of 1.59. STMicroelectronics has a one year low of $33.16 and a one year high of $53.96. The stock’s 50 day simple moving average is $41.35 and its 200 day simple moving average is $42.73. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. STMicroelectronics’s revenue for the quarter was down 25.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 EPS. As a group, sell-side analysts forecast that STMicroelectronics will post 2.01 earnings per share for the current fiscal year.

Institutional Trading of STMicroelectronics

Several hedge funds have recently added to or reduced their stakes in STM. Mather Group LLC. acquired a new stake in STMicroelectronics during the 1st quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in STMicroelectronics during the 4th quarter worth $40,000. GAMMA Investing LLC acquired a new stake in STMicroelectronics during the 4th quarter worth $48,000. Whittier Trust Co. of Nevada Inc. raised its stake in STMicroelectronics by 144.2% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after buying an additional 734 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in STMicroelectronics during the 2nd quarter worth $51,000. 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.