STMicroelectronics (NYSE:STM) Issues Quarterly Earnings Results

STMicroelectronics (NYSE:STM) announced its quarterly earnings data on Wednesday. The semiconductor producer reported $0.29 EPS for the quarter, FiscalAI reports. The business had revenue of $3.19 billion for the quarter. STMicroelectronics had a net margin of 4.55% and a return on equity of 4.06%.

STMicroelectronics Trading Up 2.6%

Shares of STM opened at $24.02 on Thursday. The firm has a market cap of $21.57 billion, a price-to-earnings ratio of 41.41, a PEG ratio of 4.59 and a beta of 1.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.28 and a current ratio of 3.22. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $33.47. The firm has a 50 day moving average price of $27.25 and a 200-day moving average price of $27.19.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in STM. Peterson Wealth Services grew its position in shares of STMicroelectronics by 3,086.5% in the 3rd quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock worth $33,000 after buying an additional 1,142 shares during the period. Rothschild Investment LLC boosted its stake in STMicroelectronics by 248.4% in the 2nd quarter. Rothschild Investment LLC now owns 1,303 shares of the semiconductor producer’s stock worth $40,000 after purchasing an additional 929 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in STMicroelectronics by 63.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,167 shares of the semiconductor producer’s stock valued at $48,000 after acquiring an additional 838 shares during the period. AlphaCore Capital LLC bought a new position in STMicroelectronics during the 2nd quarter valued at about $57,000. Finally, IFP Advisors Inc lifted its stake in STMicroelectronics by 85.4% during the 2nd quarter. IFP Advisors Inc now owns 2,269 shares of the semiconductor producer’s stock valued at $69,000 after acquiring an additional 1,045 shares during the period. 5.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BNP Paribas Exane raised shares of STMicroelectronics from a “neutral” rating to an “outperform” rating and set a $31.00 price objective on the stock in a research report on Thursday, September 4th. Baird R W upgraded shares of STMicroelectronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. Barclays reiterated an “underweight” rating on shares of STMicroelectronics in a research note on Tuesday, September 16th. The Goldman Sachs Group set a $26.50 target price on shares of STMicroelectronics and gave the stock a “neutral” rating in a research note on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of STMicroelectronics in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.19.

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.