STMicroelectronics (NYSE:STM) Coverage Initiated by Analysts at Societe Generale

Societe Generale assumed coverage on shares of STMicroelectronics (NYSE:STM) in a research note issued to investors on Thursday, The Fly reports. The firm issued a buy rating on the semiconductor producer’s stock.

A number of other analysts also recently issued reports on STM. Morgan Stanley reaffirmed an overweight rating on shares of STMicroelectronics in a report on Tuesday, July 28th. Cowen lifted their price target on STMicroelectronics from $30.00 to $34.00 and gave the stock an outperform rating in a report on Tuesday, July 14th. Bryan, Garnier & Co raised STMicroelectronics from a neutral rating to a buy rating in a report on Monday, June 29th. Credit Suisse Group reaffirmed an outperform rating on shares of STMicroelectronics in a report on Tuesday, September 15th. Finally, UBS Group reaffirmed a buy rating on shares of STMicroelectronics in a report on Friday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. STMicroelectronics currently has a consensus rating of Buy and a consensus price target of $32.34.

NYSE:STM opened at $30.54 on Thursday. The firm has a market cap of $27.83 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 7.02 and a beta of 1.41. The stock has a fifty day moving average price of $29.31 and a 200 day moving average price of $26.06. STMicroelectronics has a 12-month low of $14.67 and a 12-month high of $31.98. The company has a current ratio of 2.09, a quick ratio of 1.43 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, July 23rd. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $1.99 billion. STMicroelectronics had a return on equity of 13.98% and a net margin of 10.14%. STMicroelectronics’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. Equities analysts forecast that STMicroelectronics will post 0.85 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in STMicroelectronics by 114.6% in the 1st quarter. Victory Capital Management Inc. now owns 2,282,388 shares of the semiconductor producer’s stock valued at $48,775,000 after acquiring an additional 1,218,858 shares during the period. Van ECK Associates Corp increased its position in STMicroelectronics by 63.2% in the 1st quarter. Van ECK Associates Corp now owns 2,065,981 shares of the semiconductor producer’s stock valued at $44,150,000 after acquiring an additional 799,832 shares during the period. Bank of New York Mellon Corp increased its position in STMicroelectronics by 3,859.2% in the 1st quarter. Bank of New York Mellon Corp now owns 757,392 shares of the semiconductor producer’s stock valued at $16,185,000 after acquiring an additional 738,262 shares during the period. Thrivent Financial for Lutherans acquired a new position in STMicroelectronics during the 1st quarter worth approximately $11,565,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in STMicroelectronics during the 1st quarter worth approximately $7,630,000. 3.22% of the stock is owned by institutional investors and hedge funds.

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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