STMicroelectronics (NYSE:STM) Stock Price Down 5.6% – Here’s Why

Shares of STMicroelectronics N.V. (NYSE:STM) fell 5.6% on Wednesday . The stock traded as low as $69.79 and last traded at $70.7310. 14,280,845 shares were traded during mid-day trading, an increase of 38% from the average session volume of 10,382,824 shares. The stock had previously closed at $74.89.

Wall Street Analyst Weigh In

Several brokerages have commented on STM. Robert W. Baird set a $90.00 price objective on STMicroelectronics in a research report on Friday, April 24th. Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a research note on Sunday, April 26th. Morgan Stanley reissued an “overweight” rating on shares of STMicroelectronics in a research report on Tuesday. UBS Group set a $100.00 price objective on shares of STMicroelectronics in a research note on Wednesday, June 10th. Finally, Barclays upgraded shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.39.

STMicroelectronics Stock Performance

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 business has a 50 day moving average price of $65.98 and a 200 day moving average price of $43.55. The stock has a market capitalization of $63.53 billion, a PE ratio of 442.10 and a beta of 1.94.

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

Institutional Trading of STMicroelectronics

Large investors have recently made changes to their positions in the stock. Midwest Trust Co grew its holdings in shares of STMicroelectronics by 0.8% in the first quarter. Midwest Trust Co now owns 54,447 shares of the semiconductor producer’s stock worth $1,881,000 after acquiring an additional 406 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in 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 worth $348,000 after purchasing an additional 479 shares during the period. Inspire Investing LLC raised its position in shares of STMicroelectronics by 5.0% during the first quarter. Inspire Investing LLC now owns 10,261 shares of the semiconductor producer’s stock valued at $355,000 after buying an additional 488 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in STMicroelectronics by 13.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,405 shares of the semiconductor producer’s stock worth $115,000 after purchasing an additional 509 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake 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 last quarter. 5.05% of the stock is currently owned by institutional investors.

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.