STMicroelectronics (NYSE:STM) Price Target Cut to $50.00 by Analysts at TD Cowen

STMicroelectronics (NYSE:STM) had its target price trimmed by TD Cowen from $55.00 to $50.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a hold rating on the semiconductor producer’s stock.

A number of other equities analysts have also weighed in on STM. The Goldman Sachs Group lowered their price objective on shares of STMicroelectronics from $67.50 to $60.50 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Susquehanna upped their target price on STMicroelectronics from $60.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Craig Hallum reiterated a “buy” rating and issued a $70.00 price target on shares of STMicroelectronics in a research report on Thursday, July 23rd. Zacks Research cut STMicroelectronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and a consensus price target of $76.17.

STMicroelectronics Stock Up 0.5%

STMicroelectronics stock opened at $45.62 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.08 and a current ratio of 2.78. STMicroelectronics has a fifty-two week low of $21.11 and a fifty-two week high of $81.42. The stock has a 50-day simple moving average of $51.46 and a 200-day simple moving average of $57.31. The company has a market capitalization of $40.97 billion, a P/E ratio of 89.44 and a beta of 1.96.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.46 billion. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. Equities research analysts expect that STMicroelectronics will post 1.30 earnings per share for the current year.

Institutional Investors Weigh In On STMicroelectronics

Institutional investors and hedge funds have recently modified their holdings of the stock. Situational Awareness LP purchased a new position in STMicroelectronics in the 2nd quarter worth approximately $584,344,000. Militia Capital Management LLC bought a new stake in shares of STMicroelectronics in the 1st quarter worth about $3,455,000. Revere Asset Management Inc acquired a new stake in STMicroelectronics during the second quarter valued at approximately $8,437,000. Confluence Investment Management LLC bought a new stake in STMicroelectronics during the third quarter valued at $1,334,000. Finally, Silverleafe Capital Partners LLC acquired a new stake in STMicroelectronics during the third quarter worth about $1,113,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

About STMicroelectronics

STMicroelectronics N.V. (NYSE: STM) is a global semiconductor company that designs, develops, manufactures and markets a broad range of integrated circuits and other semiconductor products. Its offerings support applications in automotive, industrial, personal electronics, communications equipment and computer systems.

The company’s product portfolio includes microcontrollers, analog and power semiconductors, sensors, microelectromechanical systems (MEMS), connectivity products and automotive chips.