STMicroelectronics NV (NYSE:STM)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $16.85, but opened at $17.12. STMicroelectronics shares last traded at $17.46, with a volume of 90,929 shares changing hands.
STM has been the subject of a number of research reports. Bank of America raised shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $14.92 price target for the company in a report on Friday, May 31st. Craig Hallum reissued a “buy” rating and issued a $22.00 price target (up from $20.00) on shares of STMicroelectronics in a report on Wednesday, April 24th. Morgan Stanley initiated coverage on shares of STMicroelectronics in a report on Wednesday, June 19th. They issued an “overweight” rating and a $16.11 price target for the company. ValuEngine downgraded shares of STMicroelectronics from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Finally, Deutsche Bank reissued a “buy” rating and issued a $20.00 price target on shares of STMicroelectronics in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. STMicroelectronics currently has an average rating of “Buy” and an average price target of $17.68.
The firm has a market cap of $15.70 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 3.31 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.06 and a current ratio of 2.91. The company’s 50 day simple moving average is $16.24.
Several hedge funds have recently made changes to their positions in STM. Penserra Capital Management LLC increased its position in shares of STMicroelectronics by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 3,327 shares of the semiconductor producer’s stock worth $49,000 after purchasing an additional 1,109 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new stake in shares of STMicroelectronics during the 1st quarter worth about $81,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in shares of STMicroelectronics during the 4th quarter worth about $99,000. Cetera Investment Advisers acquired a new stake in shares of STMicroelectronics during the 4th quarter worth about $152,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of STMicroelectronics during the 1st quarter worth about $176,000. Institutional investors own 3.40% of the company’s stock.
STMicroelectronics Company Profile (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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