STMicroelectronics (NYSE:STM) Reaches New 52-Week Low - Time to Sell?

STMicroelectronics (NYSE:STM - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $21.97 and last traded at $22.74, with a volume of 6720699 shares changing hands. The stock had previously closed at $22.98.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on STM. Sanford C. Bernstein lowered STMicroelectronics from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. Dbs Bank downgraded STMicroelectronics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Barclays cut shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, January 22nd. Bank of America lowered shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Finally, Jefferies Financial Group raised shares of STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, STMicroelectronics presently has a consensus rating of "Hold" and an average target price of $30.97.

STMicroelectronics Stock Performance

The stock's 50-day simple moving average is $22.64 and its two-hundred day simple moving average is $24.50. The stock has a market cap of $20.71 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.55 billion. Analysts forecast that STMicroelectronics will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer's stock valued at $30,000 after acquiring an additional 531 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of STMicroelectronics in the 4th quarter valued at $31,000. Smartleaf Asset Management LLC lifted its holdings in shares of STMicroelectronics by 225.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer's stock worth $33,000 after acquiring an additional 921 shares during the period. Rakuten Securities Inc. increased its stake in STMicroelectronics by 197.0% in the fourth quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer's stock valued at $44,000 after acquiring an additional 1,180 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in STMicroelectronics by 139.6% in the first quarter. Farther Finance Advisors LLC now owns 1,862 shares of the semiconductor producer's stock valued at $41,000 after acquiring an additional 1,085 shares during the period. Institutional investors and hedge funds own 5.05% of the company's stock.

STMicroelectronics Company Profile

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.