STMicroelectronics (NYSE:STM) Price Target Lowered to $30.00 at Robert W. Baird

STMicroelectronics (NYSE:STM) had its target price dropped by investment analysts at Robert W. Baird from $35.00 to $30.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor producer’s stock. Robert W. Baird’s price objective suggests a potential upside of 12.44% from the company’s current price.

Other analysts have also issued reports about the company. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein lowered their price objective on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Craig Hallum reduced their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday. Finally, TD Cowen lowered their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, STMicroelectronics currently has an average rating of “Moderate Buy” and an average target price of $37.97.

STMicroelectronics Price Performance

STM opened at $26.68 on Friday. STMicroelectronics has a fifty-two week low of $26.63 and a fifty-two week high of $51.27. The firm has a 50-day moving average of $28.76 and a 200 day moving average of $35.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35. The firm has a market cap of $24.10 billion, a P/E ratio of 8.29, a PEG ratio of 3.39 and a beta of 1.57.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company’s revenue was down 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. On average, research analysts expect that STMicroelectronics will post 1.63 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Waldron Private Wealth LLC bought a new stake in STMicroelectronics during the third quarter valued at $34,000. Whittier Trust Co. of Nevada Inc. increased its stake in STMicroelectronics by 144.2% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after acquiring an additional 734 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of STMicroelectronics in the 2nd quarter valued at about $51,000. Denver PWM LLC bought a new stake in shares of STMicroelectronics during the 2nd quarter valued at about $72,000. Finally, Cromwell Holdings LLC grew its holdings in shares of STMicroelectronics by 68.1% during the third quarter. Cromwell Holdings LLC now owns 2,559 shares of the semiconductor producer’s stock worth $76,000 after purchasing an additional 1,037 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other 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.