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

Posted by Defense World Staff on Nov 5th, 2023

Morgan Stanley upgraded shares of STMicroelectronics (NYSE:STM – Free Report) from an equal weight rating to an overweight rating in a research note published on Wednesday, MarketBeat.com reports.

Other equities research analysts also recently issued research reports about the company. StockNews.com initiated coverage on STMicroelectronics in a research report on Thursday, October 5th. They set a buy rating on the stock. Robert W. Baird reiterated a neutral rating and issued a $35.00 price objective (down previously from $50.00) on shares of STMicroelectronics in a research report on Tuesday, October 31st. Jefferies Financial Group upgraded STMicroelectronics from an underperform rating to a hold rating in a research report on Wednesday, July 12th. TD Cowen increased their price objective on STMicroelectronics from $56.00 to $65.00 and gave the stock an outperform rating in a research report on Friday, July 28th. Finally, Susquehanna lowered their price objective on STMicroelectronics from $65.00 to $55.00 and set a positive rating on the stock in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, STMicroelectronics presently has an average rating of Moderate Buy and an average target price of $53.00.

View Our Latest Analysis on STMicroelectronics

STMicroelectronics Price Performance

Shares of NYSE STM opened at $41.25 on Wednesday. The stock has a fifty day simple moving average of $43.09 and a two-hundred day simple moving average of $45.85. STMicroelectronics has a 1-year low of $31.32 and a 1-year high of $55.85. The firm has a market cap of $37.47 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 1.87 and a beta of 1.62. The company has a current ratio of 2.94, a quick ratio of 2.17 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM – Get Free Report) last posted its earnings results on Thursday, October 26th. The semiconductor producer reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.08. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.42 billion. STMicroelectronics had a return on equity of 30.92% and a net margin of 25.15%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 earnings per share. Analysts anticipate that STMicroelectronics will post 4.29 earnings per share for the current year.

Institutional Investors Weigh In On STMicroelectronics

Large investors have recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc purchased a new stake in STMicroelectronics during the second quarter valued at about $31,000. Hexagon Capital Partners LLC raised its position in STMicroelectronics by 63.0% during the second quarter. Hexagon Capital Partners LLC now owns 779 shares of the semiconductor producer’s stock valued at $39,000 after purchasing an additional 301 shares in the last quarter. PSI Advisors LLC raised its position in STMicroelectronics by 60.0% during the first quarter. PSI Advisors LLC now owns 800 shares of the semiconductor producer’s stock valued at $43,000 after purchasing an additional 300 shares in the last quarter. Point72 Middle East FZE purchased a new stake in STMicroelectronics during the second quarter valued at about $45,000. Finally, Ameliora Wealth Management Ltd. bought a new position in shares of STMicroelectronics during the third quarter valued at about $46,000. Hedge funds and other institutional investors own 5.62% of the company’s stock.

STMicroelectronics Company Profile

(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.