STMicroelectronics (NYSE:STM) Rating Lowered to Underweight at Morgan Stanley

STMicroelectronics (NYSE:STM) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Monday, Marketbeat.com reports.

Several other brokerages have also issued reports on STM. Susquehanna cut their price objective on shares of STMicroelectronics from $35.00 to $33.00 and set a “positive” rating on the stock in a report on Friday, November 1st. TD Cowen cut their price target on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Robert W. Baird decreased their price objective on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Sanford C. Bernstein dropped their price objective on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Finally, Craig Hallum reduced their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.63.

STMicroelectronics Price Performance

STM opened at $26.70 on Monday. The company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 3.30 and a beta of 1.57. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. STMicroelectronics has a 12-month low of $25.95 and a 12-month high of $51.27. The business’s fifty day simple moving average is $28.56 and its 200-day simple moving average is $35.22.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.27 billion. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The firm’s quarterly revenue was down 26.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 EPS. On average, equities research analysts anticipate that STMicroelectronics will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of STMicroelectronics

A number of institutional investors have recently bought and sold shares of STM. Waldron Private Wealth LLC purchased a new position in shares of STMicroelectronics in the third quarter worth $34,000. Whittier Trust Co. of Nevada Inc. raised its stake in STMicroelectronics by 144.2% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after acquiring an additional 734 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in STMicroelectronics during the 2nd quarter worth about $51,000. Denver PWM LLC purchased a new stake in STMicroelectronics during the 2nd quarter valued at about $72,000. Finally, Tompkins Financial Corp acquired a new position in shares of STMicroelectronics in the third quarter valued at about $59,000. 5.05% of the stock is currently 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.