STMicroelectronics (NYSE:STM) Stock Rating Upgraded by Berenberg Bank

STMicroelectronics (NYSE:STM) was upgraded by stock analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a report released on Tuesday, MarketBeat reports.

Other research analysts have also issued reports about the stock. Susquehanna restated a “positive” rating and issued a $55.00 price objective on shares of STMicroelectronics in a report on Monday, April 8th. Craig Hallum cut their price objective on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. StockNews.com downgraded shares of STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Finally, HSBC initiated coverage on shares of STMicroelectronics in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, STMicroelectronics presently has an average rating of “Moderate Buy” and a consensus target price of $50.75.

STMicroelectronics Stock Performance

STMicroelectronics stock opened at $42.14 on Tuesday. The firm’s 50 day simple moving average is $43.88 and its 200 day simple moving average is $44.59. The company has a current ratio of 3.17, a quick ratio of 2.44 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $38.04 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 2.62 and a beta of 1.69. STMicroelectronics has a 1-year low of $37.21 and a 1-year high of $55.85.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, January 25th. The semiconductor producer reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. STMicroelectronics had a net margin of 24.36% and a return on equity of 27.70%. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the company earned $1.32 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, analysts expect that STMicroelectronics will post 2.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds have recently bought and sold shares of STM. Thomas J. Herzfeld Advisors Inc. raised its stake in STMicroelectronics by 548.4% in the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock valued at $25,000 after purchasing an additional 499 shares during the last quarter. Mather Group LLC. acquired a new position in STMicroelectronics in the 1st quarter valued at $28,000. Huntington National Bank raised its stake in STMicroelectronics by 112.7% in the 3rd quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock valued at $30,000 after purchasing an additional 365 shares during the last quarter. Headlands Technologies LLC acquired a new position in STMicroelectronics in the 3rd quarter valued at $30,000. Finally, Spire Wealth Management raised its stake in STMicroelectronics by 125.0% in the 3rd quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock valued at $31,000 after purchasing an additional 400 shares during 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.