STMicroelectronics (NYSE:STM) Posts Quarterly Earnings Results

STMicroelectronics (NYSE:STM) issued its quarterly earnings data on Wednesday. The semiconductor producer reported $0.29 earnings per share (EPS) for the quarter, FiscalAI reports. STMicroelectronics had a return on equity of 4.06% and a net margin of 4.55%.The business had revenue of $3.19 billion during the quarter.

STMicroelectronics Stock Down 1.5%

NYSE STM traded down $0.36 during trading on Friday, hitting $23.29. 5,539,159 shares of the company traded hands, compared to its average volume of 7,216,660. The company has a market capitalization of $20.91 billion, a P/E ratio of 40.15, a PEG ratio of 4.59 and a beta of 1.67. The business has a fifty day simple moving average of $27.17 and a 200 day simple moving average of $27.17. STMicroelectronics has a 12 month low of $17.25 and a 12 month high of $33.47. The company has a current ratio of 3.22, a quick ratio of 2.28 and a debt-to-equity ratio of 0.11.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on STM shares. Cowen reissued a “hold” rating on shares of STMicroelectronics in a research note on Friday, October 24th. Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a research report on Thursday, September 4th. Robert W. Baird set a $45.00 price target on shares of STMicroelectronics in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of STMicroelectronics in a report on Friday, July 25th. Finally, BNP Paribas raised STMicroelectronics from a “hold” rating to an “outperform” rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.19.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Callan Capital LLC increased its stake in STMicroelectronics by 44.7% during the first quarter. Callan Capital LLC now owns 12,407 shares of the semiconductor producer’s stock valued at $272,000 after acquiring an additional 3,835 shares during the period. Allworth Financial LP lifted its position in shares of STMicroelectronics by 59.0% during the first quarter. Allworth Financial LP now owns 3,825 shares of the semiconductor producer’s stock worth $89,000 after purchasing an additional 1,420 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of STMicroelectronics by 16.0% in the first quarter. Ballentine Partners LLC now owns 11,654 shares of the semiconductor producer’s stock valued at $256,000 after purchasing an additional 1,604 shares in the last quarter. New York State Common Retirement Fund bought a new position in STMicroelectronics in the 1st quarter worth approximately $2,994,000. Finally, Schechter Investment Advisors LLC lifted its position in STMicroelectronics by 43.0% during the 1st quarter. Schechter Investment Advisors LLC now owns 43,428 shares of the semiconductor producer’s stock valued at $954,000 after purchasing an additional 13,060 shares during the period. 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.