STMicroelectronics (STM) Upgraded to “Neutral” by Bank of America

Bank of America upgraded shares of STMicroelectronics (NYSE:STM) from an underperform rating to a neutral rating in a research note issued to investors on Thursday, MarketBeat reports.

Other analysts have also issued reports about the company. ValuEngine lowered STMicroelectronics from a buy rating to a hold rating in a report on Thursday, June 28th. Stifel Nicolaus lowered STMicroelectronics from a buy rating to a hold rating in a report on Wednesday, May 16th. Zacks Investment Research raised STMicroelectronics from a hold rating to a buy rating and set a $25.00 target price on the stock in a report on Wednesday, June 27th. Finally, Craig Hallum reduced their target price on STMicroelectronics from $30.00 to $28.00 and set a buy rating on the stock in a report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $26.15.

STM opened at $18.42 on Thursday. The firm has a market cap of $16.00 billion, a PE ratio of 18.80, a P/E/G ratio of 2.59 and a beta of 0.76. STMicroelectronics has a 52-week low of $17.43 and a 52-week high of $26.43. The company has a current ratio of 2.36, a quick ratio of 1.65 and a debt-to-equity ratio of 0.28.

STMicroelectronics (NYSE:STM) last released its earnings results on Wednesday, July 25th. The semiconductor producer reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. STMicroelectronics had a return on equity of 20.69% and a net margin of 11.48%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. equities analysts forecast that STMicroelectronics will post 1.38 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. boosted its stake in STMicroelectronics by 13.4% in the first quarter. Eagle Asset Management Inc. now owns 20,743 shares of the semiconductor producer’s stock valued at $462,000 after buying an additional 2,446 shares in the last quarter. Lido Advisors LLC boosted its stake in STMicroelectronics by 29.7% in the second quarter. Lido Advisors LLC now owns 12,386 shares of the semiconductor producer’s stock valued at $273,000 after buying an additional 2,833 shares in the last quarter. Atria Investments LLC boosted its stake in STMicroelectronics by 26.4% in the second quarter. Atria Investments LLC now owns 18,108 shares of the semiconductor producer’s stock valued at $401,000 after buying an additional 3,780 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in STMicroelectronics by 4.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 91,578 shares of the semiconductor producer’s stock valued at $2,041,000 after buying an additional 4,178 shares in the last quarter. Finally, Financial Gravity Wealth Inc. acquired a new stake in STMicroelectronics in the first quarter valued at about $113,000. 4.22% of the stock is currently owned by institutional investors and hedge funds.

About STMicroelectronics

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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