STMicroelectronics (NYSE:STM) Shares Down 3.3% – Should You Sell?

Shares of STMicroelectronics N.V. (NYSE:STM) were down 3.3% during mid-day trading on Thursday . The stock traded as low as $66.78 and last traded at $68.39. 16,840,559 shares were traded during mid-day trading, an increase of 61% from the average daily volume of 10,434,512 shares. The stock had previously closed at $70.72.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STM shares. Weiss Ratings raised STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Robert W. Baird set a $90.00 target price on STMicroelectronics in a report on Friday, April 24th. Barclays raised STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research note on Thursday, June 11th. Finally, TD Cowen reiterated a “hold” rating on shares of STMicroelectronics in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.39.

STMicroelectronics Stock Down 3.3%

The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $66.50 and a 200-day simple moving average of $43.86. The firm has a market cap of $61.43 billion, a P/E ratio of 427.46 and a beta of 1.93.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%.The firm had revenue of $3.10 billion for the quarter. On average, equities analysts anticipate that STMicroelectronics N.V. will post 1.17 earnings per share for the current year.

Hedge Funds Weigh In On STMicroelectronics

Several large investors have recently added to or reduced their stakes in the company. Amundi bought a new position in shares of STMicroelectronics in the first quarter worth approximately $947,000. AQR Capital Management LLC raised its position in shares of STMicroelectronics by 182.8% during the 1st quarter. AQR Capital Management LLC now owns 32,094 shares of the semiconductor producer’s stock valued at $705,000 after purchasing an additional 20,745 shares during the period. Legal & General Group Plc bought a new stake in shares of STMicroelectronics during the 2nd quarter valued at $119,000. M&T Bank Corp purchased a new position in shares of STMicroelectronics during the 2nd quarter valued at $303,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of STMicroelectronics by 79.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,883 shares of the semiconductor producer’s stock valued at $148,000 after buying an additional 2,156 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Company Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.