STMicroelectronics (NYSE:STM) Downgraded by Bank of America to “Neutral”

STMicroelectronics (NYSE:STM) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat Ratings reports.

Other analysts have also recently issued reports about the stock. Susquehanna reduced their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a report on Friday, January 31st. Craig Hallum reduced their price objective on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. reissued a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. TD Cowen cut shares of STMicroelectronics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $32.00 to $25.00 in a research note on Monday, January 13th. Finally, Morgan Stanley cut shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.26.

STMicroelectronics Stock Down 1.3 %

Shares of STM stock opened at $22.46 on Thursday. STMicroelectronics has a 12 month low of $21.36 and a 12 month high of $49.05. The stock has a market cap of $20.29 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.76 and a beta of 1.51. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $24.96 and a two-hundred day simple moving average of $27.48.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. On average, research analysts expect that STMicroelectronics will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On STMicroelectronics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp boosted its position in shares of STMicroelectronics by 0.7% during the third quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer’s stock worth $2,048,000 after acquiring an additional 493 shares during the last quarter. GAMMA Investing LLC lifted its position in STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after purchasing an additional 531 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in STMicroelectronics by 4.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,280 shares of the semiconductor producer’s stock valued at $307,000 after purchasing an additional 539 shares during the last quarter. Moran Wealth Management LLC lifted its position in STMicroelectronics by 0.9% during the third quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer’s stock valued at $2,039,000 after purchasing an additional 634 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in STMicroelectronics by 7.7% during the third quarter. Ballentine Partners LLC now owns 10,278 shares of the semiconductor producer’s stock valued at $306,000 after purchasing an additional 733 shares during the last quarter. 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.