STMicroelectronics NV (STM) Receives $22.72 Average Price Target from Analysts
Shares of STMicroelectronics NV (NYSE:STM) have been given an average rating of “Hold” by the fourteen research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $22.72.
A number of brokerages have commented on STM. Craig Hallum lowered their target price on STMicroelectronics from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, July 25th. Zacks Investment Research cut STMicroelectronics from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. ValuEngine cut STMicroelectronics from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Deutsche Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, September 26th. Finally, Bank of America upgraded STMicroelectronics from an “underperform” rating to a “neutral” rating in a report on Thursday, September 13th.
NYSE:STM traded up $0.19 during trading hours on Thursday, reaching $14.30. 7,843,300 shares of the company traded hands, compared to its average volume of 3,750,668. The stock has a market cap of $12.30 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.81 and a current ratio of 2.54. STMicroelectronics has a 1-year low of $13.56 and a 1-year high of $26.43.
Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of STMicroelectronics by 6,533.7% during the second quarter. Bank of New York Mellon Corp now owns 1,246,613 shares of the semiconductor producer’s stock worth $27,575,000 after purchasing an additional 1,227,821 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of STMicroelectronics during the second quarter worth $718,000. Marshall Wace LLP acquired a new stake in shares of STMicroelectronics during the second quarter worth $3,005,000. Centaurus Financial Inc. acquired a new stake in shares of STMicroelectronics during the second quarter worth $125,000. Finally, Raymond James & Associates boosted its holdings in shares of STMicroelectronics by 11.0% during the second quarter. Raymond James & Associates now owns 121,516 shares of the semiconductor producer’s stock worth $2,688,000 after purchasing an additional 12,077 shares during the last quarter. Institutional investors and hedge funds own 4.13% of the company’s stock.
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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