STMicroelectronics (NYSE:STM) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of STMicroelectronics (NYSE:STM) from a hold rating to a buy rating in a research note released on Friday morning, Zacks.com reports. They currently have $20.00 price objective on the semiconductor producer’s stock.

According to Zacks, “STMicroelectronics is a global independent semiconductor company which designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. “

STM has been the topic of several other reports. Craig Hallum raised shares of Asbury Automotive Group from a hold rating to a buy rating and set a $90.00 target price on the stock in a research report on Wednesday, April 24th. Goldman Sachs Group reaffirmed a hold rating and set a $116.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Thursday, April 25th. UBS Group lifted their price target on shares of L Brands from $26.00 to $28.00 and gave the company a neutral rating in a research report on Wednesday, April 10th. ValuEngine cut shares of Lendingtree from a buy rating to a hold rating in a research report on Tuesday, April 2nd. Finally, Bank of America set a $77.00 price target on shares of Zscaler and gave the company a neutral rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $17.59.

STM opened at $17.80 on Friday. The business has a 50 day moving average of $16.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 2.06. STMicroelectronics has a 1 year low of $12.00 and a 1 year high of $24.40. The firm has a market capitalization of $15.96 billion, a PE ratio of 12.45, a PEG ratio of 3.38 and a beta of 1.37.

STMicroelectronics (NYSE:STM) last released its earnings results on Wednesday, April 24th. The semiconductor producer reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.01). STMicroelectronics had a return on equity of 19.85% and a net margin of 12.89%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business posted $0.28 earnings per share. STMicroelectronics’s revenue was down 6.7% on a year-over-year basis. On average, research analysts expect that STMicroelectronics will post 1.06 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of STM. Arlington Partners LLC acquired a new position in shares of STMicroelectronics during the second quarter worth $34,000. Penserra Capital Management LLC lifted its position in shares of STMicroelectronics by 50.0% during the first quarter. Penserra Capital Management LLC now owns 3,327 shares of the semiconductor producer’s stock worth $49,000 after purchasing an additional 1,109 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in shares of STMicroelectronics during the first quarter worth $81,000. Cetera Investment Advisers acquired a new position in shares of STMicroelectronics during the fourth quarter worth $152,000. Finally, Moors & Cabot Inc. acquired a new position in shares of STMicroelectronics during the first quarter worth $176,000. 3.40% of the stock is currently owned by institutional investors and hedge funds.

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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