STMicroelectronics (NYSE:STM) Shares Gap Down – What’s Next?

Shares of STMicroelectronics (NYSE:STM) gapped down prior to trading on Thursday . The stock had previously closed at $24.59, but opened at $24.02. STMicroelectronics shares last traded at $24.17, with a volume of 456,943 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BNP Paribas began coverage on shares of STMicroelectronics in a report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price target on the stock. Bank of America downgraded shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Jefferies Financial Group raised STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Finally, Susquehanna cut their price target on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.26.

STMicroelectronics Stock Performance

The firm has a market capitalization of $21.69 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.16 and a beta of 1.56. The stock has a fifty day simple moving average of $24.74 and a two-hundred day simple moving average of $26.40. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, research analysts predict that STMicroelectronics will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in STMicroelectronics by 16.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 54,102 shares of the semiconductor producer’s stock valued at $1,608,000 after purchasing an additional 7,718 shares during the period. Assetmark Inc. grew its position in STMicroelectronics by 14.6% during the third quarter. Assetmark Inc. now owns 52,748 shares of the semiconductor producer’s stock valued at $1,568,000 after buying an additional 6,709 shares during the period. Atria Investments Inc grew its position in STMicroelectronics by 3.4% during the third quarter. Atria Investments Inc now owns 37,867 shares of the semiconductor producer’s stock valued at $1,126,000 after buying an additional 1,245 shares during the period. Covestor Ltd purchased a new stake in STMicroelectronics during the third quarter worth about $62,000. Finally, Crossmark Global Holdings Inc. raised its position in STMicroelectronics by 53.9% in the third quarter. Crossmark Global Holdings Inc. now owns 64,812 shares of the semiconductor producer’s stock worth $1,927,000 after acquiring an additional 22,692 shares during the period. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics Company Profile

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.