Berenberg Bank Upgrades STMicroelectronics (NYSE:STM) to Buy

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

A number of other research analysts have also recently weighed in on STM. Susquehanna reaffirmed a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. HSBC assumed coverage on shares of STMicroelectronics in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. StockNews.com lowered shares of STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Finally, Craig Hallum dropped their price objective on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.75.

STMicroelectronics Trading Up 1.7 %

Shares of STM stock opened at $39.25 on Tuesday. The stock has a market cap 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. 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 has a fifty-two week low of $37.21 and a fifty-two week high of $55.85. The firm’s 50 day moving average price is $44.02 and its two-hundred day moving average price is $44.64.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.08 billion. STMicroelectronics had a net margin of 24.36% and a return on equity of 27.70%. STMicroelectronics’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 earnings per share. On average, analysts anticipate that STMicroelectronics will post 2.99 EPS for the current year.

Institutional Trading of STMicroelectronics

A number of hedge funds and other institutional investors have recently made changes to their positions in STM. Thomas J. Herzfeld Advisors Inc. increased its stake in shares of STMicroelectronics by 548.4% in the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock worth $25,000 after buying an additional 499 shares during the last quarter. Mather Group LLC. bought a new stake in shares of STMicroelectronics in the first quarter worth $28,000. Huntington National Bank increased its stake in shares of STMicroelectronics by 112.7% in the third quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock worth $30,000 after buying an additional 365 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of STMicroelectronics in the third quarter worth $30,000. Finally, Spire Wealth Management increased its stake in STMicroelectronics by 125.0% during the third 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 last quarter. Institutional investors own 5.05% of the company’s stock.

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.