STMicroelectronics (NYSE:STM) Trading Down 3.3% – What’s Next?

STMicroelectronics N.V. (NYSE:STM) dropped 3.3% on Thursday . The company traded as low as $66.78 and last traded at $68.39. 16,840,559 shares traded hands during trading, an increase of 61% from the average session volume of 10,434,512 shares. The stock had previously closed at $70.72.

Analysts Set New Price Targets

Several research firms have recently issued reports on STM. Zacks Research upgraded shares of STMicroelectronics from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. UBS Group set a $100.00 price objective on STMicroelectronics in a research report on Wednesday, June 10th. Bank of America upgraded STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a report on Thursday, June 11th. Finally, Weiss Ratings raised STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, STMicroelectronics presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.39.

STMicroelectronics Price Performance

The firm’s fifty day simple moving average is $66.50 and its 200-day simple moving average is $43.86. The firm has a market capitalization of $61.43 billion, a PE ratio of 427.46 and a beta of 1.93. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The firm had revenue of $3.10 billion for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. On average, research analysts forecast that STMicroelectronics N.V. will post 1.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of STM. Abound Wealth Management bought a new stake in STMicroelectronics in the 4th quarter worth about $26,000. CIBC Private Wealth Group LLC lifted its stake in STMicroelectronics by 3,746.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock valued at $26,000 after acquiring an additional 974 shares during the period. Portus Wealth Advisors LLC bought a new position in STMicroelectronics during the 1st quarter valued at about $32,000. Public Employees Retirement System of Ohio purchased a new stake in shares of STMicroelectronics during the 1st quarter valued at about $45,000. Finally, Advisory Services Network LLC purchased a new stake in shares of STMicroelectronics during the 3rd quarter valued at about $52,000. 5.05% of the stock is owned by institutional investors.

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.