STMicroelectronics (NYSE:STM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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 subject of several other reports. Bank of America raised shares of STMicroelectronics from an “underperform” rating to a “neutral” rating in a report on Thursday, September 13th. ValuEngine lowered shares of STMicroelectronics from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Finally, Craig Hallum cut their target price on shares of STMicroelectronics from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. STMicroelectronics currently has an average rating of “Hold” and a consensus price target of $26.15.

STM opened at $18.83 on Tuesday. STMicroelectronics has a 12-month low of $17.43 and a 12-month high of $26.43. The company has a quick ratio of 1.65, a current ratio of 2.36 and a debt-to-equity ratio of 0.28. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76.

STMicroelectronics (NYSE:STM) last posted its earnings results on Wednesday, July 25th. The semiconductor producer reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.26 billion. STMicroelectronics had a net margin of 11.48% and a return on equity of 20.69%. STMicroelectronics’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. analysts expect that STMicroelectronics will post 1.38 EPS for the current year.

Several large investors have recently bought and sold shares of the company. PointState Capital LP purchased a new position in shares of STMicroelectronics during the 2nd quarter valued at approximately $73,538,000. Renaissance Technologies LLC increased its holdings in shares of STMicroelectronics by 177.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,873,245 shares of the semiconductor producer’s stock valued at $64,027,000 after purchasing an additional 1,837,921 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of STMicroelectronics by 14.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,335,623 shares of the semiconductor producer’s stock valued at $29,771,000 after purchasing an additional 165,520 shares in the last quarter. Bank of New York Mellon Corp grew its stake in STMicroelectronics by 6,533.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,246,613 shares of the semiconductor producer’s stock valued at $27,575,000 after acquiring an additional 1,227,821 shares during the period. Finally, Capital Fund Management S.A. grew its stake in STMicroelectronics by 21.2% in the 2nd quarter. Capital Fund Management S.A. now owns 998,945 shares of the semiconductor producer’s stock valued at $22,097,000 after acquiring an additional 174,826 shares during the period. 4.22% of the stock is owned by hedge funds and other institutional investors.

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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