STMicroelectronics (STM) Trading Down 6.8%

STMicroelectronics NV (NYSE:STM) was down 6.8% on Monday . The company traded as low as $15.66 and last traded at $15.71. Approximately 14,088,700 shares were traded during mid-day trading, an increase of 336% from the average daily volume of 3,229,416 shares. The stock had previously closed at $16.85.

A number of equities research analysts recently weighed in on STM shares. Zacks Investment Research upgraded STMicroelectronics from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Saturday, April 27th. ValuEngine upgraded STMicroelectronics from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. UBS Group restated a “hold” rating and issued a $14.00 price target on shares of STMicroelectronics in a research note on Wednesday, April 10th. Cowen started coverage on STMicroelectronics in a research note on Friday, February 22nd. They issued an “outperform” rating and a $21.00 price target on the stock. Finally, Deutsche Bank restated a “buy” rating on shares of STMicroelectronics in a research note on Friday, January 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $18.17.

The company has a quick ratio of 2.06, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. The firm has a market cap of $15.10 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 2.82 and a beta of 1.16.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley grew its holdings in STMicroelectronics by 68.7% in the 1st quarter. Morgan Stanley now owns 2,874,747 shares of the semiconductor producer’s stock valued at $42,690,000 after buying an additional 1,170,259 shares in the last quarter. KCL Capital L.P. acquired a new position in STMicroelectronics in the 1st quarter valued at $18,562,000. SEI Investments Co grew its holdings in STMicroelectronics by 26.1% in the 1st quarter. SEI Investments Co now owns 5,928 shares of the semiconductor producer’s stock valued at $88,000 after buying an additional 1,228 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in STMicroelectronics by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,015,805 shares of the semiconductor producer’s stock valued at $15,084,000 after buying an additional 68,730 shares in the last quarter. Finally, Jefferies Group LLC acquired a new position in STMicroelectronics in the 1st quarter valued at $249,000. 3.95% of the stock is currently owned by hedge funds and other institutional investors.

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About STMicroelectronics (NYSE:STM)

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.

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