STMicroelectronics (NYSE:STM) Rating Increased to Buy at Berenberg Bank

STMicroelectronics (NYSE:STM) was upgraded by analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a report released on Tuesday, Marketbeat Ratings reports.

Several other research firms have also weighed in on STM. HSBC initiated coverage on STMicroelectronics in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. Susquehanna reaffirmed a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. Craig Hallum reduced their target price on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Finally, StockNews.com downgraded STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.75.

STMicroelectronics Stock Up 1.7 %

NYSE:STM opened at $39.25 on Tuesday. The firm has a market capitalization of $35.43 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.69. STMicroelectronics has a twelve month low of $37.21 and a twelve month high of $55.85. The stock’s 50 day moving average price is $44.02 and its two-hundred day moving average price is $44.64. The company has a quick ratio of 2.44, a current ratio of 3.17 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.19. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.08 billion. STMicroelectronics had a return on equity of 27.70% and a net margin of 24.36%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.32 EPS. Equities research analysts expect that STMicroelectronics will post 2.99 earnings per share for the current fiscal year.

Institutional Trading of STMicroelectronics

Institutional investors have recently added to or reduced their stakes in the company. Thomas J. Herzfeld Advisors Inc. boosted its stake in STMicroelectronics by 548.4% in the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock valued at $25,000 after purchasing an additional 499 shares during the period. Mather Group LLC. bought a new stake in STMicroelectronics in the 1st quarter valued at $28,000. Huntington National Bank boosted its stake in STMicroelectronics by 112.7% in the 3rd quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock valued at $30,000 after purchasing an additional 365 shares during the period. Headlands Technologies LLC bought a new stake in STMicroelectronics in the 3rd quarter valued at $30,000. Finally, Spire Wealth Management boosted its stake in STMicroelectronics by 125.0% in the 3rd quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock valued at $31,000 after purchasing an additional 400 shares during the period. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.