STMicroelectronics (NYSE:STM) Rating Increased to Buy at Goldman Sachs Group

STMicroelectronics (NYSE:STM) was upgraded by research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a $19.20 price target on the semiconductor producer’s stock, up from their previous price target of $18.60. Goldman Sachs Group’s target price would indicate a potential upside of 8.29% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded STMicroelectronics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Craig Hallum restated a “buy” rating and set a $22.00 target price (up from $20.00) on shares of STMicroelectronics in a research note on Wednesday, April 24th. Bank of America upgraded STMicroelectronics from a “neutral” rating to a “buy” rating and set a $14.92 target price for the company in a research note on Friday, May 31st. UBS Group restated a “hold” rating and set a $14.00 target price on shares of STMicroelectronics in a research note on Wednesday, April 10th. Finally, Kepler Capital Markets upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.02.

NYSE:STM opened at $17.73 on Thursday. The firm has a 50-day moving average of $17.89. The company has a quick ratio of 1.90, a current ratio of 2.77 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $15.30 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.33 and a beta of 1.35. STMicroelectronics has a 12 month low of $12.00 and a 12 month high of $21.06.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, July 25th. The semiconductor producer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.11 billion. STMicroelectronics had a net margin of 11.94% and a return on equity of 17.59%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, research analysts predict that STMicroelectronics will post 1.02 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Atlas Capital Advisors LLC boosted its stake in STMicroelectronics by 28.3% in the first quarter. Atlas Capital Advisors LLC now owns 20,209 shares of the semiconductor producer’s stock valued at $300,000 after acquiring an additional 4,459 shares during the period. Henry James International Management Inc. boosted its stake in STMicroelectronics by 76.9% in the first quarter. Henry James International Management Inc. now owns 260,213 shares of the semiconductor producer’s stock valued at $3,864,000 after acquiring an additional 113,099 shares during the period. Zweig DiMenna Associates LLC acquired a new position in STMicroelectronics in the first quarter valued at approximately $1,856,000. Advisor Partners LLC acquired a new position in STMicroelectronics in the first quarter valued at approximately $184,000. Finally, Penserra Capital Management LLC boosted its stake in STMicroelectronics by 50.0% in the first quarter. Penserra Capital Management LLC now owns 3,327 shares of the semiconductor producer’s stock valued at $49,000 after acquiring an additional 1,109 shares during the period. Institutional investors and hedge funds own 3.39% of the company’s stock.

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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Analyst Recommendations for STMicroelectronics (NYSE:STM)

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