STMicroelectronics (NYSE:STM) Shares Down 4.7% – What’s Next?

STMicroelectronics N.V. (NYSE:STM)’s stock price traded down 4.7% on Friday . The company traded as low as $59.94 and last traded at $61.36. 9,374,006 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 9,525,603 shares. The stock had previously closed at $64.38.

Analyst Upgrades and Downgrades

Several research analysts recently commented on STM shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of STMicroelectronics in a research note on Friday. Craig Hallum raised shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Thursday, April 23rd. Mizuho set a $48.00 price target on STMicroelectronics and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a report on Sunday, April 26th. Finally, Morgan Stanley raised STMicroelectronics from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 26th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, STMicroelectronics has a consensus rating of “Moderate Buy” and an average target price of $49.07.

STMicroelectronics Trading Down 4.7%

The stock has a market cap of $55.11 billion, a price-to-earnings ratio of 383.52 and a beta of 1.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 2.34. The company’s fifty day moving average price is $41.48 and its 200-day moving average price is $32.34.

STMicroelectronics (NYSE:STM) last released its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The company had revenue of $3.10 billion during the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. On average, research analysts expect that STMicroelectronics N.V. will post 1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

A number of large investors have recently made changes to their positions in the stock. Abound Wealth Management purchased a new position in STMicroelectronics in the 4th quarter worth $26,000. CIBC Private Wealth Group LLC grew 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 purchasing an additional 974 shares during the last quarter. Portus Wealth Advisors LLC purchased a new stake in STMicroelectronics during the 1st quarter valued at about $32,000. Peterson Wealth Services increased its holdings in shares of STMicroelectronics by 3,086.5% in the third quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock valued at $33,000 after purchasing an additional 1,142 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of STMicroelectronics in the first quarter valued at about $45,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

About STMicroelectronics

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.