TD Cowen Lowers STMicroelectronics (NYSE:STM) Price Target to $27.00

Key Points

• TD Cowen has lowered the price target for STMicroelectronics from $34.00 to $27.00, maintaining a "hold" rating on the stock, which indicates a potential upside of just 0.63% from its previous close.
• The semiconductor company reported earnings of $0.06 per share for the last quarter, missing the consensus estimate of $0.10, despite exceeding revenue expectations with $2.77 billion.
• Institutional investors have shown strong activity, with several firms significantly increasing their stakes in STMicroelectronics, which currently holds a market cap of $24.10 billion.

STMicroelectronics (NYSE:STM - Get Free Report) had its price objective decreased by stock analysts at TD Cowen from $34.00 to $27.00 in a report released on Friday, Marketbeat.com reports. The brokerage presently has a "hold" rating on the semiconductor producer's stock. TD Cowen's price objective suggests a potential upside of 0.63% from the company's previous close.

A number of other brokerages have also commented on STM. Oddo Bhf raised shares of STMicroelectronics to an "outperform" rating in a research report on Wednesday, July 2nd. Robert W. Baird upgraded shares of STMicroelectronics from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $23.00 to $50.00 in a report on Tuesday. Dbs Bank downgraded shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Craig Hallum reiterated a "hold" rating and issued a $28.00 price objective on shares of STMicroelectronics in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of STMicroelectronics in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $33.17.

STMicroelectronics Stock Down 15.5%

Shares of NYSE STM opened at $26.83 on Friday. The stock has a market cap of $24.10 billion, a P/E ratio of 22.74, a P/E/G ratio of 1.87 and a beta of 1.60. The firm has a 50 day moving average price of $29.20 and a 200 day moving average price of $25.50. 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 52-week low of $17.25 and a 52-week high of $35.41.

STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The semiconductor producer reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.71 billion. STMicroelectronics had a net margin of 8.94% and a return on equity of 6.28%. Analysts expect that STMicroelectronics will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in STM. Farther Finance Advisors LLC raised its holdings in STMicroelectronics by 139.6% during the 1st quarter. Farther Finance Advisors LLC now owns 1,862 shares of the semiconductor producer's stock worth $41,000 after purchasing an additional 1,085 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in STMicroelectronics by 63.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,167 shares of the semiconductor producer's stock worth $48,000 after purchasing an additional 838 shares during the last quarter. IFP Advisors Inc raised its holdings in STMicroelectronics by 85.4% during the 2nd quarter. IFP Advisors Inc now owns 2,269 shares of the semiconductor producer's stock worth $69,000 after purchasing an additional 1,045 shares during the last quarter. GAMMA Investing LLC raised its holdings in STMicroelectronics by 184.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,848 shares of the semiconductor producer's stock worth $87,000 after purchasing an additional 1,847 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in STMicroelectronics by 396.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,197 shares of the semiconductor producer's stock worth $70,000 after purchasing an additional 2,553 shares during the last quarter. 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.

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