STMicroelectronics NV (NYSE:STM) Receives $33.33 Average Price Target from Analysts

Shares of STMicroelectronics NV (NYSE:STM) have been assigned a consensus recommendation of “Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $33.33.

STM has been the subject of a number of recent analyst reports. 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. Canaccord Genuity boosted their target price on STMicroelectronics from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 24th. Barclays reissued an “overweight” rating on shares of STMicroelectronics in a report on Wednesday, September 30th. Zacks Investment Research raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of STMicroelectronics in a report on Friday, July 24th.

Shares of NYSE STM opened at $34.31 on Thursday. The company has a market capitalization of $31.26 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 7.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.09 and a quick ratio of 1.43. The business has a 50-day moving average of $30.98 and a two-hundred day moving average of $27.46. STMicroelectronics has a 1 year low of $14.67 and a 1 year high of $35.34.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, July 23rd. The semiconductor producer reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $1.99 billion. STMicroelectronics had a return on equity of 13.98% and a net margin of 10.14%. STMicroelectronics’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. As a group, equities research analysts expect that STMicroelectronics will post 0.85 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STM. Amundi Pioneer Asset Management Inc. acquired a new position in STMicroelectronics during the 1st quarter worth approximately $7,630,000. State Street Corp increased its position in STMicroelectronics by 327.8% during the 1st quarter. State Street Corp now owns 254,499 shares of the semiconductor producer’s stock worth $5,439,000 after purchasing an additional 195,012 shares during the period. Geode Capital Management LLC increased its position in STMicroelectronics by 68.9% during the 1st quarter. Geode Capital Management LLC now owns 31,548 shares of the semiconductor producer’s stock worth $674,000 after purchasing an additional 12,875 shares during the period. Thrivent Financial for Lutherans acquired a new position in STMicroelectronics during the 1st quarter worth approximately $11,565,000. Finally, Two Sigma Investments LP acquired a new position in STMicroelectronics during the 1st quarter worth approximately $596,000. Institutional investors own 3.22% 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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