STMicroelectronics (NYSE:STM) Upgraded to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of STMicroelectronics (NYSE:STM) from an equal weight rating to an overweight rating in a report issued on Thursday morning, Marketbeat.com reports.

STM has been the subject of several other reports. Mizuho set a $28.00 price objective on shares of STMicroelectronics in a research report on Friday, January 9th. Susquehanna boosted their target price on shares of STMicroelectronics from $35.00 to $40.00 and gave the stock a “positive” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings cut shares of STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, STMicroelectronics currently has an average rating of “Hold” and an average price target of $31.93.

STMicroelectronics Stock Performance

Shares of STM opened at $32.87 on Thursday. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.10. The firm has a market cap of $29.53 billion, a PE ratio of 182.64 and a beta of 1.55. STMicroelectronics has a 12 month low of $17.25 and a 12 month high of $35.07. The stock has a fifty day moving average price of $31.79 and a 200-day moving average price of $28.16.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, January 29th. The semiconductor producer reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.16). STMicroelectronics had a return on equity of 2.70% and a net margin of 1.41%.The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Equities research analysts predict that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of STMicroelectronics

Institutional investors and hedge funds have recently made changes to their positions in the business. Abound Wealth Management purchased a new position in shares of STMicroelectronics during the 4th quarter valued at approximately $26,000. CIBC Private Wealth Group LLC grew its stake in STMicroelectronics by 3,746.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock valued at $26,000 after acquiring an additional 974 shares during the period. Peterson Wealth Services increased its holdings in STMicroelectronics by 3,086.5% in the 3rd quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock worth $33,000 after acquiring an additional 1,142 shares in the last quarter. Advisory Services Network LLC acquired a new position in STMicroelectronics during the third quarter worth $52,000. Finally, AlphaCore Capital LLC acquired a new position in STMicroelectronics during the second quarter worth $57,000. 5.05% of the stock is currently owned by hedge funds and other 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.