STMicroelectronics (NYSE:STM) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “STMicroelectronics is a global independent semiconductor company which designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. “

Several other analysts have also weighed in on the stock. Cowen lifted their price objective on shares of STMicroelectronics from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Canaccord Genuity initiated coverage on shares of STMicroelectronics in a research note on Wednesday, December 18th. They issued a “buy” rating for the company. Goldman Sachs Group reiterated a “neutral” rating on shares of STMicroelectronics in a research note on Wednesday, January 8th. Citigroup upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating in a research note on Thursday, March 19th. Finally, Jefferies Financial Group started coverage on shares of STMicroelectronics in a research note on Monday, January 6th. They set a “hold” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. STMicroelectronics presently has an average rating of “Buy” and a consensus price target of $23.31.

Shares of NYSE:STM traded up $0.57 during mid-day trading on Thursday, hitting $21.44. The company had a trading volume of 3,074,418 shares, compared to its average volume of 3,399,939. The firm has a fifty day moving average price of $25.92 and a 200 day moving average price of $24.57. The company has a market capitalization of $19.54 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 2.78 and a beta of 1.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.03 and a quick ratio of 2.21. STMicroelectronics has a one year low of $14.28 and a one year high of $31.98.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, January 23rd. The semiconductor producer reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.69 billion. STMicroelectronics had a net margin of 10.80% and a return on equity of 15.33%. STMicroelectronics’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. Research analysts expect that STMicroelectronics will post 1.44 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its stake in STMicroelectronics by 11.0% during the 4th quarter. Quadrant Capital Group LLC now owns 19,940 shares of the semiconductor producer’s stock valued at $526,000 after purchasing an additional 1,969 shares in the last quarter. RMR Wealth Builders purchased a new position in STMicroelectronics during the 4th quarter worth $44,000. Pearl River Capital LLC purchased a new position in STMicroelectronics during the 4th quarter worth $213,000. Sunbelt Securities Inc. purchased a new position in STMicroelectronics during the 4th quarter worth $3,000,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in STMicroelectronics during the 4th quarter worth $9,446,000. Institutional investors and hedge funds own 3.29% of the company’s stock.

About STMicroelectronics

STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.

Read More: Bull Market

Get a free copy of the Zacks research report on STMicroelectronics (STM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for STMicroelectronics (NYSE:STM)

Receive News & Ratings for STMicroelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics and related companies with MarketBeat.com's FREE daily email newsletter.