TD Cowen Increases STMicroelectronics (NYSE:STM) Price Target to $23.00

STMicroelectronics (NYSE:STM - Get Free Report) had its target price upped by TD Cowen from $18.00 to $23.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has a "hold" rating on the semiconductor producer's stock. TD Cowen's target price indicates a potential downside of 1.25% from the stock's previous close.

STM has been the topic of a number of other reports. Jefferies Financial Group raised STMicroelectronics from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Barclays lowered shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 22nd. Morgan Stanley upgraded shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a report on Thursday, February 13th. Sanford C. Bernstein cut shares of STMicroelectronics from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $33.00 to $26.00 in a research report on Wednesday, February 5th. Finally, Bank of America lowered STMicroelectronics from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $30.97.

STMicroelectronics Price Performance

Shares of STM traded down $0.05 during trading hours on Friday, reaching $23.29. The company had a trading volume of 6,484,761 shares, compared to its average volume of 5,499,722. The firm has a 50 day simple moving average of $23.08 and a 200-day simple moving average of $24.66. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $20.92 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.16 and a beta of 1.56. STMicroelectronics has a 12-month low of $17.25 and a 12-month high of $45.39.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.55 billion. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Research analysts expect that STMicroelectronics will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On STMicroelectronics

A number of large investors have recently modified their holdings of the business. Clear Creek Financial Management LLC acquired a new position in shares of STMicroelectronics in the 4th quarter worth approximately $468,000. Callan Family Office LLC bought a new position in STMicroelectronics in the 4th quarter valued at $486,000. Raymond James Financial Inc. purchased a new position in STMicroelectronics in the fourth quarter valued at approximately $1,738,000. Schechter Investment Advisors LLC purchased a new position in shares of STMicroelectronics in the fourth quarter worth about $758,000. Finally, Diversified Trust Co purchased a new position in STMicroelectronics during the 4th quarter valued at about $583,000. Institutional investors and hedge funds own 5.05% of the company's stock.

About STMicroelectronics

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.