STMicroelectronics (NYSE:STM) Upgraded to Strong-Buy at Baird R W

STMicroelectronics (NYSE:STM - Get Free Report) was upgraded by equities researchers at Baird R W from a "hold" rating to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

STM has been the subject of several other research reports. TD Cowen raised their target price on shares of STMicroelectronics from $23.00 to $30.00 and gave the stock a "hold" rating in a report on Friday, June 13th. Oddo Bhf upgraded shares of STMicroelectronics to an "outperform" rating in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of STMicroelectronics in a report on Friday, April 25th. Robert W. Baird upgraded shares of STMicroelectronics from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $23.00 to $50.00 in a report on Tuesday. Finally, Susquehanna boosted their price target on shares of STMicroelectronics from $30.00 to $40.00 and gave the company a "positive" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, STMicroelectronics presently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

STMicroelectronics Price Performance

Shares of STM opened at $33.43 on Tuesday. The stock has a market cap of $30.02 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.93 and a beta of 1.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.24 and a current ratio of 3.05. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $40.55. The firm's 50-day simple moving average is $28.77 and its two-hundred day simple moving average is $25.34.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. STMicroelectronics had a net margin of 8.94% and a return on equity of 6.28%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.55 billion. Analysts anticipate that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Checchi Capital Advisers LLC purchased a new position in shares of STMicroelectronics in the second quarter valued at approximately $226,000. Hennessy Advisors Inc. purchased a new position in shares of STMicroelectronics in the second quarter valued at approximately $152,000. Ping Capital Management Inc. acquired a new stake in STMicroelectronics in the second quarter valued at approximately $304,000. PFG Investments LLC acquired a new stake in STMicroelectronics in the second quarter valued at approximately $236,000. Finally, Janney Montgomery Scott LLC acquired a new stake in STMicroelectronics in the second quarter valued at approximately $464,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.