STMicroelectronics (NYSE:STM) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded STMicroelectronics from “Buy” to “Hold.” Despite the downgrade, analyst consensus remains “Moderate Buy,” with seven Buy ratings and five Hold ratings and an average price target of $76.17.
• STMicroelectronics reported quarterly EPS of $0.31, exceeding the $0.26 consensus estimate, while revenue of $3.49 billion also surpassed expectations.
• The stock opened at $50.27 and has a market capitalization of approximately $45.15 billion. Institutional investors own 5.05% of the company, with several firms adding or initiating positions during the second quarter.

STMicroelectronics (NYSE:STM - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research firms have also weighed in on STM. UBS Group set a $100.00 price objective on STMicroelectronics in a research report on Wednesday, June 10th. TD Cowen restated a "hold" rating on shares of STMicroelectronics in a research note on Monday, July 13th. Zacks Research lowered shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 3rd. Morgan Stanley restated an "overweight" rating on shares of STMicroelectronics in a report on Tuesday, June 30th. Finally, Barclays set a $60.00 price objective on shares of STMicroelectronics in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.17.

STMicroelectronics Stock Performance

NYSE:STM opened at $50.27 on Friday. The stock has a fifty day moving average price of $53.80 and a 200-day moving average price of $54.31. The company has a market cap of $45.15 billion, a price-to-earnings ratio of 98.58 and a beta of 1.93. 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.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The semiconductor producer reported $0.31 EPS 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 net margin of 3.56% and a return on equity of 4.30%. As a group, equities analysts anticipate that STMicroelectronics will post 1.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Anchor Investment Management LLC bought a new stake in STMicroelectronics during the 2nd quarter valued at $37,000. Revere Asset Management Inc purchased a new position in shares of STMicroelectronics in the second quarter valued at about $8,437,000. Sequoia Financial Advisors LLC raised its stake in shares of STMicroelectronics by 21.9% during the second quarter. Sequoia Financial Advisors LLC now owns 17,929 shares of the semiconductor producer's stock valued at $1,343,000 after acquiring an additional 3,216 shares during the last quarter. MCF Advisors LLC purchased a new stake in shares of STMicroelectronics during the second quarter worth about $57,000. Finally, Engineers Gate Manager LP bought a new stake in shares of STMicroelectronics in the second quarter worth about $7,407,000. 5.05% of the stock is owned by institutional investors.

STMicroelectronics Company Profile

STMicroelectronics N.V. NYSE: STM is a global semiconductor company that designs, develops, manufactures and markets a broad range of integrated circuits and electronic components. Its products are used in automotive systems, industrial equipment, personal electronics, communications infrastructure and other embedded applications.

The company's portfolio includes microcontrollers and microprocessors, analog and mixed-signal devices, power semiconductors, sensors, MEMS devices, connectivity products and automotive semiconductors.

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