STMicroelectronics (NYSE:STM) Shares Gap Down to $43.08

STMicroelectronics (NYSE:STM) gapped down before the market opened on Thursday . The stock had previously closed at $43.08, but opened at $41.36. STMicroelectronics shares last traded at $41.19, with a volume of 456,570 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $35.50 to $45.80 in a research note on Tuesday. William Blair reiterated a “market perform” rating on shares of STMicroelectronics in a report on Friday, April 26th. Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. StockNews.com upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Susquehanna reiterated a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.76.

STMicroelectronics Stock Up 0.2 %

The firm’s fifty day moving average price is $41.60 and its two-hundred day moving average price is $44.28. The stock has a market cap of $36.81 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 3.82 and a beta of 1.62. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 2.58.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.05). The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.61 billion. STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. STMicroelectronics’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.10 EPS. Sell-side analysts forecast that STMicroelectronics will post 2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in STM. Van ECK Associates Corp increased its position in shares of STMicroelectronics by 55.3% during the first quarter. Van ECK Associates Corp now owns 5,800,911 shares of the semiconductor producer’s stock worth $250,831,000 after acquiring an additional 2,065,387 shares in the last quarter. Lazard Asset Management LLC grew its position in STMicroelectronics by 1,564,831.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after purchasing an additional 1,079,734 shares in the last quarter. Quadrature Capital Ltd grew its position in STMicroelectronics by 337.8% in the 4th quarter. Quadrature Capital Ltd now owns 510,834 shares of the semiconductor producer’s stock worth $25,561,000 after purchasing an additional 394,147 shares in the last quarter. Qube Research & Technologies Ltd grew its position in STMicroelectronics by 92.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 643,578 shares of the semiconductor producer’s stock worth $27,777,000 after purchasing an additional 308,494 shares in the last quarter. Finally, Grand Alliance Asset Management Ltd bought a new position in shares of STMicroelectronics during the 4th quarter valued at approximately $14,036,000. 5.05% of the stock is owned by institutional investors.

About STMicroelectronics

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.