STMicroelectronics (NYSE:STM) Shares Gap Down – Time to Sell?

STMicroelectronics (NYSE:STM) gapped down before the market opened on Thursday . The stock had previously closed at $21.60, but opened at $19.94. STMicroelectronics shares last traded at $19.20, with a volume of 2,057,277 shares.

Wall Street Analysts Forecast Growth

STM has been the subject of several research analyst reports. TD Cowen lowered STMicroelectronics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $32.00 to $25.00 in a research report on Monday, January 13th. Susquehanna decreased their price target on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research note on Friday, January 31st. Morgan Stanley upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. Barclays downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 22nd. Finally, Sanford C. Bernstein lowered shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $33.00 to $26.00 in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, STMicroelectronics has an average rating of “Hold” and an average target price of $31.26.

STMicroelectronics Trading Down 14.4 %

The stock’s 50 day moving average is $23.63 and its 200-day moving average is $25.34. The company has a market cap of $16.61 billion, a P/E ratio of 11.19, a PEG ratio of 1.16 and a beta of 1.56. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. Research analysts anticipate 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 modified their holdings of the business. GAMMA Investing LLC increased its holdings in STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after buying an additional 531 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of STMicroelectronics in the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its stake in STMicroelectronics by 225.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock valued at $33,000 after buying an additional 921 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of STMicroelectronics by 197.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock valued at $44,000 after buying an additional 1,180 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in STMicroelectronics by 108.3% in the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after purchasing an additional 809 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

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.