Zacks Investment Research Lowers STMicroelectronics (NYSE:STM) to Hold

Zacks Investment Research lowered shares of STMicroelectronics (NYSE:STM) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, Zacks.com reports.

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. “

STM has been the subject of a number of other reports. UBS Group upped their target price on shares of L Brands from $26.00 to $28.00 and gave the stock a neutral rating in a research note on Wednesday, April 10th. Morgan Stanley restated an overweight rating on shares of in a research note on Wednesday, June 19th. Goldman Sachs Group restated a hold rating and set a $116.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. Bank of America set a $77.00 price objective on shares of Zscaler and gave the stock a neutral rating in a research note on Friday, May 31st. Finally, Craig Hallum upgraded shares of Asbury Automotive Group from a hold rating to a buy rating and set a $90.00 price objective for the company in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $17.59.

Shares of NYSE STM opened at $17.80 on Friday. The firm has a market cap of $15.96 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 3.38 and a beta of 1.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.06 and a current ratio of 2.91. STMicroelectronics has a 1-year low of $12.00 and a 1-year high of $24.40. The business has a fifty day moving average of $16.71.

STMicroelectronics (NYSE:STM) last announced its earnings results on Wednesday, April 24th. The semiconductor producer reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.01). The company had revenue of $2.08 billion during 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%. STMicroelectronics’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Analysts expect that STMicroelectronics will post 1.06 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of STM. Arlington Partners LLC bought a new stake in shares of STMicroelectronics in the 2nd quarter valued at about $34,000. Penserra Capital Management LLC raised its holdings in shares of STMicroelectronics by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 3,327 shares of the semiconductor producer’s stock valued at $49,000 after purchasing an additional 1,109 shares during the period. Financial Gravity Wealth Inc. bought a new stake in shares of STMicroelectronics in the 1st quarter valued at about $81,000. Cetera Investment Advisers bought a new stake in shares of STMicroelectronics in the 4th quarter valued at about $152,000. Finally, Moors & Cabot Inc. bought a new stake in shares of STMicroelectronics in the 1st quarter valued at about $176,000. Institutional investors own 3.40% 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.

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