STMicroelectronics (STM) Downgraded by Morgan Stanley (MS) to "Equal Weight"
Friday, July 15, 2021 1:31 PM

Equities research analysts at Morgan Stanley (NYSE: MS) downgraded shares of STMicroelectronics (NYSE: STM) from an "overweight" rating to an "equal weight" rating in a research note to investors on Friday.

Separately, analysts at Robert W. Baird cut their price target on shares of STMicroelectronics from $17.00 to $14.00 in a research note to investors on Monday, June 13rd. They now have an "outperform" rating on the stock. Also, analysts at Zacks Investment Research reiterated a "neutral" rating on shares of STMicroelectronics in a research note to investors on Thursday, March 24th.

Shares of STMicroelectronics traded down 2.41% during mid-day trading on Monday, hitting $8.90. STMicroelectronics has a 52 week low of $6.51 and a 52 week high of $13.53. The stock's 50-day moving average is $10. and its 200-day moving average is $11.49. The company has a market cap of $7.847 billion and a price-to-earnings ratio of 8.72.

STMicroelectronics last announced its quarterly results on Tuesday, April 26th. The company reported $0.19 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.20 EPS by $0.01. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s quarterly revenue was up 9.00% on a year-over-year basis. On average, analysts predict that STMicroelectronics will post $0.25 EPS next quarter.

STMicroelectronics N.V. is an independent semiconductor company that designs, develops, manufactures and markets a range of semiconductor products used in a variety of microelectronic applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems. Its products are manufactured and designed using a range of manufacturing processes and design methods. It uses all of the prevalent function-oriented process technologies, including complementary metal-on silicon oxide semiconductor, bipolar and nonvolatile memory technologies. In addition, by combining basic processes, it has developed advanced systems-oriented technologies that enable the Company to produce differentiated and application-specific products. On February 3, 2009, it combined the businesses of Ericsson Mobile Platforms and ST-NXP Wireless into a new venture, ST-Ericsson. In May 2010, Micron Technology, Inc. acquired Numonyx B.V.

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