STMicroelectronics (NYSE:STM) Price Target Cut to $50.00 by Analysts at TD Cowen

Key Points

• TD Cowen lowered STMicroelectronics’ price target to $50 from $55 and maintained a “hold” rating, implying approximately 9.6% upside from the stock’s current price.
• Analyst sentiment remains mixed but leans positive: seven analysts rate the stock a Buy and five rate it Hold, resulting in a consensus “Moderate Buy” rating and an average price target of $76.17.
• STMicroelectronics exceeded quarterly expectations, reporting $0.31 in earnings per share versus the $0.26 consensus and revenue of $3.49 billion versus estimates of $3.46 billion.

STMicroelectronics (NYSE:STM - Get Free Report) had its price objective cut by equities researchers at TD Cowen from $55.00 to $50.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a "hold" rating on the semiconductor producer's stock. TD Cowen's price objective would indicate a potential upside of 9.61% from the company's current price.

A number of other analysts have also weighed in on the stock. Barclays set a $60.00 price objective on shares of STMicroelectronics in a research note on Friday, July 24th. Morgan Stanley reissued an "overweight" rating on shares of STMicroelectronics in a research report on Tuesday, June 30th. Mizuho lowered their price target on shares of STMicroelectronics from $84.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, July 24th. Weiss Ratings reissued a "hold (c-)" rating on shares of STMicroelectronics in a report on Friday, August 21st. Finally, Zacks Research lowered STMicroelectronics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $76.17.

STMicroelectronics Stock Performance

STM stock opened at $45.62 on Monday. STMicroelectronics has a twelve month low of $21.11 and a twelve month high of $81.42. The firm has a market cap of $40.97 billion, a price-to-earnings ratio of 89.44 and a beta of 1.96. The business's fifty day simple moving average is $51.46 and its two-hundred day simple moving average is $57.31. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its earnings results on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.05. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.46 billion. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. Analysts predict that STMicroelectronics will post 1.30 earnings per share for the current year.

Institutional Investors Weigh In On STMicroelectronics

Several institutional investors have recently bought and sold shares of STM. Situational Awareness LP acquired a new position in shares of STMicroelectronics in the second quarter worth about $584,344,000. Annex Advisory Services LLC acquired a new stake in shares of STMicroelectronics during the 3rd quarter valued at about $38,877,000. The Manufacturers Life Insurance Company purchased a new position in shares of STMicroelectronics in the 1st quarter valued at about $19,132,000. Generate Investment Management Ltd purchased a new position in shares of STMicroelectronics in the 3rd quarter valued at about $15,857,000. Finally, Beaconlight Capital LLC purchased a new position in shares of STMicroelectronics in the 1st quarter valued at about $13,284,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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 other semiconductor products. Its offerings support applications in automotive, industrial, personal electronics, communications equipment and computer systems.

The company's product portfolio includes microcontrollers, analog and power semiconductors, sensors, microelectromechanical systems (MEMS), connectivity products and automotive chips.

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