STMicroelectronics (STM) Shares Gap Down to $18.83
STMicroelectronics NV (NYSE:STM) gapped down prior to trading on Thursday . The stock had previously closed at $19.22, but opened at $18.83. STMicroelectronics shares last traded at $18.52, with a volume of 5299100 shares traded.
Several brokerages have recently weighed in on STM. ValuEngine downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. Deutsche Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, June 27th. Craig Hallum decreased their target price on STMicroelectronics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, July 25th. Finally, Bank of America raised STMicroelectronics from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.15.
The firm has a market cap of $17.13 billion, a P/E ratio of 18.93, a PEG ratio of 2.78 and a beta of 0.76. The company has a quick ratio of 1.65, a current ratio of 2.36 and a debt-to-equity ratio of 0.28.
Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new position in STMicroelectronics in the second quarter valued at about $718,000. Marshall Wace LLP bought a new position in STMicroelectronics during the 2nd quarter worth approximately $3,005,000. Royal Bank of Canada lifted its holdings in STMicroelectronics by 96.8% during the 1st quarter. Royal Bank of Canada now owns 80,477 shares of the semiconductor producer’s stock worth $1,794,000 after buying an additional 39,594 shares during the last quarter. Caption Management LLC bought a new position in STMicroelectronics during the 2nd quarter worth approximately $486,000. Finally, SG Americas Securities LLC lifted its holdings in STMicroelectronics by 149.3% during the 2nd quarter. SG Americas Securities LLC now owns 203,508 shares of the semiconductor producer’s stock worth $4,502,000 after buying an additional 121,860 shares during the last quarter. 4.22% of the stock is owned by hedge funds and other institutional investors.
STMicroelectronics Company Profile (NYSE:STM)
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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