STMicroelectronics (NYSE:STM) Stock Price Down 3.2% - What's Next?

Shares of STMicroelectronics (NYSE:STM - Get Free Report) dropped 3.2% during trading on Thursday . The stock traded as low as $24.64 and last traded at $24.66. Approximately 584,236 shares changed hands during trading, a decline of 88% from the average daily volume of 4,769,320 shares. The stock had previously closed at $25.48.

Wall Street Analysts Forecast Growth

STM has been the topic of a number of recent analyst reports. Sanford C. Bernstein cut shares of STMicroelectronics from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $33.00 to $26.00 in a research report on Wednesday, February 5th. Morgan Stanley upgraded STMicroelectronics from an "underweight" rating to an "equal weight" rating in a research note on Thursday, February 13th. BNP Paribas started coverage on STMicroelectronics in a research note on Tuesday, December 3rd. They issued a "neutral" rating and a $28.00 price objective for the company. Susquehanna lowered their target price on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating for the company in a report on Friday, January 31st. Finally, Bank of America downgraded shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, STMicroelectronics has an average rating of "Hold" and a consensus target price of $31.26.

Remove Ads

STMicroelectronics Trading Up 1.2 %

The business has a 50-day moving average of $24.69 and a 200-day moving average of $26.06. The stock has a market capitalization of $21.83 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.16 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. As a group, research analysts forecast that STMicroelectronics will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in STMicroelectronics by 131.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer's stock valued at $85,232,000 after buying an additional 1,939,088 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of STMicroelectronics by 576.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer's stock worth $47,962,000 after acquiring an additional 1,636,707 shares during the period. Two Sigma Advisers LP raised its holdings in STMicroelectronics by 674.2% during the third quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer's stock worth $41,524,000 after purchasing an additional 1,216,300 shares in the last quarter. Voloridge Investment Management LLC lifted its position in STMicroelectronics by 39.2% in the fourth quarter. Voloridge Investment Management LLC now owns 3,330,616 shares of the semiconductor producer's stock valued at $83,165,000 after purchasing an additional 938,097 shares during the period. Finally, Invesco Ltd. boosted its holdings in STMicroelectronics by 94.4% in the 4th quarter. Invesco Ltd. now owns 1,767,787 shares of the semiconductor producer's stock valued at $44,142,000 after purchasing an additional 858,624 shares in the last quarter. 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.