Susquehanna Forecasts Strong Price Appreciation for STMicroelectronics (NYSE:STM) Stock

STMicroelectronics (NYSE:STM - Get Free Report) had its target price raised by equities researchers at Susquehanna from $30.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "positive" rating on the semiconductor producer's stock. Susquehanna's price target indicates a potential upside of 20.65% from the company's current price.

Several other research firms also recently issued reports on STM. TD Cowen upped their target price on STMicroelectronics from $23.00 to $30.00 and gave the company a "hold" rating in a research report on Friday, June 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of STMicroelectronics in a research note on Friday, April 25th. Dbs Bank downgraded STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Oddo Bhf raised STMicroelectronics to an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Robert W. Baird raised STMicroelectronics from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $23.00 to $50.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $35.00.

STMicroelectronics Stock Up 1.1%

Shares of STM stock traded up $0.35 during mid-day trading on Tuesday, reaching $33.16. 7,960,892 shares of the company's stock traded hands, compared to its average volume of 6,352,660. The company has a market cap of $29.78 billion, a P/E ratio of 28.08, a P/E/G ratio of 1.91 and a beta of 1.60. The company's 50-day moving average price is $28.77 and its 200-day moving average price is $25.34. STMicroelectronics has a 12 month low of $17.25 and a 12 month high of $42.12. The company has a quick ratio of 2.24, a current ratio of 3.05 and a debt-to-equity ratio of 0.11.

STMicroelectronics (NYSE:STM - Get Free Report) last released its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 EPS for the quarter, topping 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 analysts' expectations of $2.55 billion. On average, equities analysts expect that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in shares of STMicroelectronics by 148.4% during the 1st quarter. Acadian Asset Management LLC now owns 5,650,244 shares of the semiconductor producer's stock worth $124,055,000 after acquiring an additional 3,375,428 shares in the last quarter. Invesco Ltd. boosted its stake in STMicroelectronics by 188.1% during the 1st quarter. Invesco Ltd. now owns 5,093,785 shares of the semiconductor producer's stock valued at $111,860,000 after purchasing an additional 3,325,998 shares during the period. Two Sigma Investments LP lifted its position in shares of STMicroelectronics by 19.4% in the 4th quarter. Two Sigma Investments LP now owns 4,475,384 shares of the semiconductor producer's stock worth $111,750,000 after acquiring an additional 725,684 shares during the period. JPMorgan Chase & Co. lifted its position in shares of STMicroelectronics by 131.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer's stock worth $85,232,000 after acquiring an additional 1,939,088 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in shares of STMicroelectronics by 39.2% in the 4th quarter. Voloridge Investment Management LLC now owns 3,330,616 shares of the semiconductor producer's stock worth $83,165,000 after acquiring an additional 938,097 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

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.

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