STMicroelectronics (NYSE:STM) Price Target Increased to $65.00 by Analysts at TD Cowen

Posted by Defense World Staff on Aug 1st, 2023

STMicroelectronics (NYSE:STM – Free Report) had its price target boosted by TD Cowen from $56.00 to $65.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the semiconductor producer’s stock.

Several other equities research analysts also recently issued reports on STM. Susquehanna lowered their price target on STMicroelectronics from 55.00 to 54.00 in a report on Sunday, May 7th. Jefferies Financial Group raised STMicroelectronics from an underperform rating to a hold rating in a research note on Wednesday, July 12th. Finally, StockNews.com lowered shares of STMicroelectronics from a strong-buy rating to a buy rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $55.89.

STMicroelectronics Stock Up 0.4 %

STMicroelectronics stock opened at $53.69 on Friday. The firm has a market capitalization of $48.77 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.49 and a beta of 1.59. The company’s 50 day simple moving average is $48.42 and its 200 day simple moving average is $47.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.67 and a quick ratio of 1.92. STMicroelectronics has a fifty-two week low of $29.09 and a fifty-two week high of $55.85.

STMicroelectronics (NYSE:STM – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor producer reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.04). STMicroelectronics had a return on equity of 33.67% and a net margin of 25.36%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that STMicroelectronics will post 4.3 EPS for the current year.

Institutional Trading of STMicroelectronics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can increased its position in shares of STMicroelectronics by 2,911.3% during the 1st quarter. Bank of Montreal Can now owns 134,004 shares of the semiconductor producer’s stock worth $6,012,000 after purchasing an additional 129,554 shares during the last quarter. BlackRock Inc. grew its position in shares of STMicroelectronics by 9.9% in the 1st quarter. BlackRock Inc. now owns 3,530,155 shares of the semiconductor producer’s stock valued at $152,573,000 after acquiring an additional 318,347 shares during the period. Mariner LLC acquired a new position in shares of STMicroelectronics during the 1st quarter worth about $579,000. Northern Trust Corp raised its holdings in shares of STMicroelectronics by 0.8% in the 1st quarter. Northern Trust Corp now owns 349,772 shares of the semiconductor producer’s stock valued at $15,117,000 after purchasing an additional 2,885 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in STMicroelectronics by 105.8% in the 1st quarter. Hsbc Holdings PLC now owns 5,672 shares of the semiconductor producer’s stock valued at $246,000 after purchasing an additional 103,964 shares during the last quarter. Institutional investors and hedge funds own 6.62% of the company’s stock.

About STMicroelectronics

(Get Free Report)

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.