STMicroelectronics N.V. (NYSE:STM) traded down 7.1% on Wednesday . The stock traded as low as $22.12 and last traded at $22.32. 7,230,476 shares changed hands during trading, an increase of 61% from the average session volume of 4,500,503 shares. The stock had previously closed at $24.03.

Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of STMicroelectronics from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research report on Tuesday, October 31st. Craig Hallum increased their price target on shares of STMicroelectronics from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. STMicroelectronics has a consensus rating of “Buy” and a consensus price target of $21.88.

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.73 and a current ratio of 2.29. The stock has a market cap of $22,411.34, a PE ratio of 33.70, a price-to-earnings-growth ratio of 5.48 and a beta of 0.80.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, October 26th. The semiconductor producer reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. STMicroelectronics had a net margin of 7.84% and a return on equity of 13.47%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the business earned $0.11 EPS. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. equities research analysts anticipate that STMicroelectronics N.V. will post 0.9 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Moors & Cabot Inc. bought a new position in STMicroelectronics in the 3rd quarter worth $197,000. Cetera Advisors LLC raised its holdings in STMicroelectronics by 393.4% in the 3rd quarter. Cetera Advisors LLC now owns 53,484 shares of the semiconductor producer’s stock worth $1,041,000 after purchasing an additional 42,644 shares in the last quarter. Marco Investment Management LLC raised its holdings in STMicroelectronics by 57.5% in the 3rd quarter. Marco Investment Management LLC now owns 51,575 shares of the semiconductor producer’s stock worth $1,002,000 after purchasing an additional 18,825 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in STMicroelectronics by 2.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 88,934 shares of the semiconductor producer’s stock worth $1,727,000 after purchasing an additional 2,392 shares in the last quarter. Finally, Highbridge Capital Management LLC raised its holdings in STMicroelectronics by 154.0% in the 3rd quarter. Highbridge Capital Management LLC now owns 1,835,000 shares of the semiconductor producer’s stock worth $35,636,000 after purchasing an additional 1,112,500 shares in the last quarter. Institutional investors and hedge funds own 5.06% of the company’s stock.

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About STMicroelectronics

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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