STMicroelectronics (STM) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of STMicroelectronics (NYSE:STM) from a hold rating to a buy rating in a report issued on Saturday, Zacks.com reports. The firm currently has $21.00 price target on the semiconductor producer’s stock.

According to Zacks, “STMicroelectronics is a global independent semiconductor company which designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. “

Other equities research analysts have also issued reports about the company. Credit Suisse Group restated a buy rating on shares of STMicroelectronics in a research note on Friday, January 18th. Societe Generale set a $22.00 target price on STMicroelectronics and gave the company a buy rating in a research note on Friday, January 25th. Deutsche Bank reiterated a buy rating on shares of STMicroelectronics in a research note on Friday, January 25th. Craig Hallum reiterated a buy rating and issued a $22.00 target price (up previously from $20.00) on shares of STMicroelectronics in a research note on Wednesday. Finally, UBS Group reiterated a hold rating and issued a $14.00 target price on shares of STMicroelectronics in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. STMicroelectronics presently has a consensus rating of Hold and a consensus target price of $17.81.

NYSE:STM traded down $0.21 on Friday, hitting $18.23. 3,025,963 shares of the stock were exchanged, compared to its average volume of 3,469,287. The firm has a market capitalization of $16.34 billion, a PE ratio of 12.75, a P/E/G ratio of 3.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 2.02. STMicroelectronics has a fifty-two week low of $12.00 and a fifty-two week high of $26.43.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor producer reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.01). The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.13 billion. STMicroelectronics had a return on equity of 19.85% and a net margin of 12.89%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. As a group, research analysts anticipate that STMicroelectronics will post 1.11 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of STM. BlackRock Inc. grew its stake in shares of STMicroelectronics by 5,119.6% in the third quarter. BlackRock Inc. now owns 76,311 shares of the semiconductor producer’s stock valued at $1,400,000 after buying an additional 74,849 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in STMicroelectronics in the third quarter valued at about $14,305,000. Morgan Stanley boosted its holdings in STMicroelectronics by 17.5% in the third quarter. Morgan Stanley now owns 2,410,320 shares of the semiconductor producer’s stock valued at $44,205,000 after purchasing an additional 359,324 shares during the last quarter. Marshall Wace North America L.P. boosted its holdings in STMicroelectronics by 34.0% in the third quarter. Marshall Wace North America L.P. now owns 100,869 shares of the semiconductor producer’s stock valued at $1,850,000 after purchasing an additional 25,591 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. purchased a new position in STMicroelectronics in the fourth quarter valued at about $61,000. Institutional investors and hedge funds own 3.96% of the company’s stock.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.

See Also: What is included in the gross domestic product?

Get a free copy of the Zacks research report on STMicroelectronics (STM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for STMicroelectronics (NYSE:STM)

Receive News & Ratings for STMicroelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics and related companies with MarketBeat.com's FREE daily email newsletter.