STMicroelectronics (NYSE:STM) Upgraded by Bank of America to “Buy” Rating

STMicroelectronics (NYSE:STM) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat reports. The brokerage presently has a $100.00 price objective on the semiconductor producer’s stock. Bank of America‘s price objective would indicate a potential upside of 36.33% from the company’s current price.

Several other equities analysts also recently issued reports on STM. Robert W. Baird set a $90.00 price target on shares of STMicroelectronics in a report on Friday, April 24th. Craig Hallum raised shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, April 23rd. UBS Group set a $100.00 price target on shares of STMicroelectronics in a report on Wednesday. Morgan Stanley reissued an “overweight” rating on shares of STMicroelectronics in a report on Thursday, May 28th. Finally, Susquehanna lifted their price target on shares of STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a report on Monday, February 23rd. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, STMicroelectronics has an average rating of “Moderate Buy” and an average price target of $64.39.

STMicroelectronics Stock Performance

STMicroelectronics stock opened at $73.35 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 2.34. The stock has a fifty day moving average price of $54.68 and a two-hundred day moving average price of $38.12. STMicroelectronics has a 52-week low of $21.11 and a 52-week high of $81.42. The firm has a market capitalization of $65.88 billion, a P/E ratio of 458.49 and a beta of 1.94.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share (EPS) for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%.The firm had revenue of $3.10 billion during the quarter. As a group, analysts anticipate that STMicroelectronics will post 1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

Large investors have recently modified their holdings of the stock. Amundi bought a new position in STMicroelectronics in the first quarter valued at about $947,000. AQR Capital Management LLC increased its position in STMicroelectronics by 182.8% in the first quarter. AQR Capital Management LLC now owns 32,094 shares of the semiconductor producer’s stock worth $705,000 after purchasing an additional 20,745 shares during the period. Legal & General Group Plc acquired a new stake in STMicroelectronics in the second quarter worth about $119,000. M&T Bank Corp acquired a new stake in STMicroelectronics in the second quarter worth about $303,000. Finally, EverSource Wealth Advisors LLC increased its position in STMicroelectronics by 79.1% in the second quarter. EverSource Wealth Advisors LLC now owns 4,883 shares of the semiconductor producer’s stock worth $148,000 after purchasing an additional 2,156 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Company Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.