STMicroelectronics (NYSE:STM) Trading Down 4.7% – Here’s Why

STMicroelectronics N.V. (NYSE:STM)’s share price was down 4.7% on Friday . The company traded as low as $70.69 and last traded at $71.3740. Approximately 9,817,675 shares were traded during trading, a decline of 5% from the average session volume of 10,358,528 shares. The stock had previously closed at $74.88.

Analyst Upgrades and Downgrades

STM has been the topic of a number of analyst reports. UBS Group set a $100.00 price target on STMicroelectronics in a report on Wednesday, June 10th. Morgan Stanley reiterated an “overweight” rating on shares of STMicroelectronics in a report on Thursday, May 28th. Weiss Ratings raised shares of STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Bank of America upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, June 10th. Finally, TD Cowen restated a “hold” rating on shares of STMicroelectronics in a research note on Friday, April 24th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $64.39.

STMicroelectronics Trading Down 4.7%

The stock has a market cap of $64.11 billion, a price-to-earnings ratio of 446.12 and a beta of 1.94. 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 $64.09 and its 200-day moving average price is $42.54.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%.The company had revenue of $3.10 billion during the quarter. On average, research analysts expect that STMicroelectronics N.V. will post 1.17 EPS for the current fiscal year.

Institutional Trading of STMicroelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Midwest Trust Co lifted its holdings in STMicroelectronics by 0.8% in the first quarter. Midwest Trust Co now owns 54,447 shares of the semiconductor producer’s stock valued at $1,881,000 after acquiring an additional 406 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of STMicroelectronics by 5.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,062 shares of the semiconductor producer’s stock valued at $348,000 after purchasing an additional 479 shares during the period. Inspire Investing LLC boosted its holdings in STMicroelectronics by 5.0% during the first quarter. Inspire Investing LLC now owns 10,261 shares of the semiconductor producer’s stock worth $355,000 after buying an additional 488 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in STMicroelectronics by 13.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,405 shares of the semiconductor producer’s stock worth $115,000 after buying an additional 509 shares in the last quarter. Finally, Earnest Partners LLC grew its position in STMicroelectronics by 3.2% during the fourth quarter. Earnest Partners LLC now owns 17,282 shares of the semiconductor producer’s stock valued at $448,000 after buying an additional 534 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Company Profile

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.