Zacks Investment Research downgraded shares of STMicroelectronics N.V. (NYSE:STM) from a buy rating to a hold rating in a research report released 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. “

Several other equities analysts also recently weighed in on the company. BidaskClub raised STMicroelectronics N.V. from a buy rating to a strong-buy rating in a research report on Monday, July 31st. J P Morgan Chase & Co raised STMicroelectronics N.V. from a neutral rating to an overweight rating in a research report on Tuesday, July 11th. Stifel Nicolaus raised STMicroelectronics N.V. from a hold rating to a buy rating and dropped their target price for the company from $14.84 to $14.50 in a research report on Tuesday, June 27th. Robert W. Baird lifted their target price on STMicroelectronics N.V. from $15.00 to $20.00 and gave the company an outperform rating in a research report on Friday, April 28th. Finally, Craig Hallum reaffirmed a buy rating and issued a $20.00 target price on shares of STMicroelectronics N.V. in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $18.38.

STMicroelectronics N.V. (STM) traded down 0.23% during mid-day trading on Tuesday, reaching $17.14. 2,094,267 shares of the company’s stock were exchanged. STMicroelectronics N.V. has a one year low of $7.24 and a one year high of $17.44. The firm has a market capitalization of $15.22 billion, a P/E ratio of 35.05 and a beta of 0.66. The company’s 50-day moving average is $15.75 and its 200 day moving average is $15.32.

STMicroelectronics N.V. (NYSE:STM) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 earnings per share. Equities analysts predict that STMicroelectronics N.V. will post $0.82 earnings per share for the current fiscal year.

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STMicroelectronics N.V. announced that its board has authorized a stock repurchase program on Thursday, June 22nd that allows the company to buyback $297.00 million in shares. This buyback authorization allows the semiconductor producer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in STMicroelectronics N.V. by 362.4% in the first quarter. Renaissance Technologies LLC now owns 5,299,919 shares of the semiconductor producer’s stock valued at $81,713,000 after buying an additional 4,153,795 shares during the last quarter. Acadian Asset Management LLC boosted its stake in STMicroelectronics N.V. by 21.4% in the second quarter. Acadian Asset Management LLC now owns 4,624,153 shares of the semiconductor producer’s stock valued at $66,495,000 after buying an additional 816,194 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in STMicroelectronics N.V. during the first quarter valued at $23,004,000. FMR LLC acquired a new stake in STMicroelectronics N.V. during the first quarter valued at $21,932,000. Finally, JPMorgan Chase & Co. boosted its stake in STMicroelectronics N.V. by 1,004.2% in the second quarter. JPMorgan Chase & Co. now owns 1,301,673 shares of the semiconductor producer’s stock valued at $18,718,000 after buying an additional 1,183,788 shares during the last quarter. Hedge funds and other institutional investors own 5.08% of the company’s stock.

About STMicroelectronics N.V.

STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.

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