Berenberg Bank Upgrades STMicroelectronics (NYSE:STM) to “Buy”

STMicroelectronics (NYSE:STM) was upgraded by equities researchers at Berenberg Bank from a “hold” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat reports.

Several other equities analysts have also issued reports on STM. Craig Hallum decreased their target price on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. StockNews.com downgraded STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. HSBC assumed coverage on STMicroelectronics in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. Finally, Susquehanna reiterated a “positive” rating and set a $55.00 target price on shares of STMicroelectronics in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, STMicroelectronics currently has an average rating of “Moderate Buy” and a consensus target price of $50.75.

STMicroelectronics Stock Performance

Shares of STM opened at $42.14 on Tuesday. The company has a market cap of $38.04 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 2.62 and a beta of 1.69. The company has a current ratio of 3.17, a quick ratio of 2.44 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $43.88 and its two-hundred day simple moving average is $44.59. STMicroelectronics has a 12 month low of $37.21 and a 12 month high of $55.85.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.19. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.08 billion. STMicroelectronics had a return on equity of 27.70% and a net margin of 24.36%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 earnings per share. Research analysts anticipate that STMicroelectronics will post 2.99 earnings per share for the current fiscal year.

Institutional Trading of STMicroelectronics

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of STMicroelectronics by 13.7% during the fourth quarter. Van ECK Associates Corp now owns 3,735,524 shares of the semiconductor producer’s stock worth $187,262,000 after purchasing an additional 448,978 shares during the period. Capital International Investors boosted its position in STMicroelectronics by 6.0% in the fourth quarter. Capital International Investors now owns 3,058,401 shares of the semiconductor producer’s stock valued at $153,593,000 after buying an additional 172,399 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in STMicroelectronics by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock valued at $118,772,000 after buying an additional 120,399 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of STMicroelectronics by 0.6% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,229,200 shares of the semiconductor producer’s stock worth $96,212,000 after purchasing an additional 12,476 shares during the period. Finally, Rafferty Asset Management LLC lifted its holdings in shares of STMicroelectronics by 8.7% during the fourth quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock worth $80,991,000 after purchasing an additional 129,772 shares during the period. Institutional investors 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.