Zacks Investment Research upgraded shares of STMicroelectronics NV (NYSE:STM) from a hold rating to a buy rating in a research note published on Thursday morning. Zacks Investment Research currently has $9.00 target price on the stock.
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 research firms have also issued reports on STM. Bank of America Corp. lowered STMicroelectronics NV from a neutral rating to an underperform rating in a research report on Friday, September 2nd. TheStreet upgraded STMicroelectronics NV from a hold rating to a buy rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $8.88.
STMicroelectronics NV (NYSE:STM) opened at 8.30 on Thursday. The company’s 50-day moving average is $7.82 and its 200 day moving average is $6.51. STMicroelectronics NV has a 12 month low of $5.11 and a 12 month high of $8.41. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 98.81 and a beta of 0.93.
STMicroelectronics NV (NYSE:STM) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.00. The firm earned $1.70 million during the quarter, compared to analyst estimates of $1.76 million. STMicroelectronics NV had a return on equity of 2.55% and a net margin of 1.10%. STMicroelectronics NV’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 earnings per share. Equities analysts forecast that STMicroelectronics NV will post $0.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 27th. Stockholders of record on Tuesday, September 20th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, September 16th. This represents a $0.24 annualized dividend and a dividend yield of 2.89%. STMicroelectronics NV’s payout ratio is currently 250.03%.
Institutional investors have recently bought and sold shares of the company. Advisor Group Inc. bought a new position in STMicroelectronics NV during the second quarter valued at about $577,000. Stevens Capital Management LP raised its position in STMicroelectronics NV by 232.7% in the second quarter. Stevens Capital Management LP now owns 72,279 shares of the company’s stock valued at $426,000 after buying an additional 50,553 shares during the last quarter. JPMorgan Chase & Co. raised its position in STMicroelectronics NV by 354.1% in the second quarter. JPMorgan Chase & Co. now owns 490,582 shares of the company’s stock valued at $2,890,000 after buying an additional 382,550 shares during the last quarter. First Trust Advisors LP raised its position in STMicroelectronics NV by 44.6% in the second quarter. First Trust Advisors LP now owns 123,756 shares of the company’s stock valued at $729,000 after buying an additional 38,170 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in STMicroelectronics NV by 0.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,970 shares of the company’s stock valued at $106,000 after buying an additional 162 shares during the last quarter. Institutional investors own 2.07% of the company’s stock.
STMicroelectronics NV Company Profile
STMicroelectronics N.V. is a global semiconductor company. The Company is focused on Smart Driving, enabled by digitalization and electrification of the car, and the Internet of Things, including portable and wearable systems, as well as smart home, city and industry applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG) and Others.
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