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

STMicroelectronics (NYSE:STM) was downgraded by investment analysts at Barclays from an “equal weight” rating to an “underweight” rating in a note issued to investors on Wednesday, MarketBeat reports.

Other equities research analysts also recently issued reports about the stock. BNP Paribas started coverage on shares of STMicroelectronics in a report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price target on the stock. Morgan Stanley cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Craig Hallum lowered their price objective 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.11.

STMicroelectronics Stock Performance

Shares of STM stock opened at $25.76 on Wednesday. The firm’s 50 day moving average is $25.36 and its 200 day moving average is $28.89. The stock has a market capitalization of $23.27 billion, a P/E ratio of 10.60, a PEG ratio of 4.54 and a beta of 1.52. STMicroelectronics has a 12 month low of $23.66 and a 12 month high of $49.05. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was down 26.6% on a year-over-year basis. On average, sell-side analysts anticipate that STMicroelectronics will post 1.64 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in STMicroelectronics in the third quarter worth $25,000. Archer Investment Corp bought a new stake in shares of STMicroelectronics during the 3rd quarter valued at $30,000. GAMMA Investing LLC increased its stake in shares of STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after acquiring an additional 531 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in STMicroelectronics during the 3rd quarter valued at about $34,000. Finally, TD Private Client Wealth LLC boosted its stake in STMicroelectronics by 108.3% during the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after acquiring an additional 809 shares in the last quarter. Hedge funds and other institutional investors 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.