STMicroelectronics N.V. (STM) Rating Increased to Strong-Buy at BidaskClub
BidaskClub upgraded shares of STMicroelectronics N.V. (NYSE:STM) from a buy rating to a strong-buy rating in a research note published on Monday, July 31st.
Other equities analysts have also issued research reports about the company. Zacks Investment Research downgraded STMicroelectronics N.V. from a hold rating to a sell rating in a research report on Thursday, June 29th. Craig Hallum reiterated a buy rating and issued a $20.00 price objective on shares of STMicroelectronics N.V. in a report on Thursday, April 27th. J P Morgan Chase & Co upgraded STMicroelectronics N.V. from a neutral rating to an overweight rating in a report on Tuesday, July 11th. Robert W. Baird upped their price target on STMicroelectronics N.V. from $15.00 to $20.00 and gave the stock an outperform rating in a report on Friday, April 28th. Finally, Stifel Nicolaus downgraded STMicroelectronics N.V. from a buy rating to a hold rating in a report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. STMicroelectronics N.V. presently has an average rating of Hold and a consensus price target of $18.38.
Shares of STMicroelectronics N.V. (NYSE STM) traded up 0.61% during mid-day trading on Monday, hitting $16.62. 3,959,614 shares of the stock traded hands. STMicroelectronics N.V. has a 1-year low of $7.24 and a 1-year high of $17.46. The company has a market capitalization of $14.76 billion, a PE ratio of 33.99 and a beta of 0.66. The company’s 50-day moving average price is $15.99 and its 200 day moving average price is $15.51.
STMicroelectronics N.V. (NYSE:STM) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by $0.01. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts forecast that STMicroelectronics N.V. will post $0.82 EPS for the current fiscal year.
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STMicroelectronics N.V. announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 22nd that permits the company to repurchase $297.00 million in shares. This repurchase authorization permits the semiconductor producer to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in STMicroelectronics N.V. by 20.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,607 shares of the semiconductor producer’s stock valued at $119,000 after buying an additional 1,771 shares in the last quarter. Nepsis Capital Management Inc. acquired a new position in shares of STMicroelectronics N.V. during the first quarter worth about $7,334,000. Creative Planning increased its position in shares of STMicroelectronics N.V. by 923.8% in the first quarter. Creative Planning now owns 99,393 shares of the semiconductor producer’s stock worth $1,537,000 after buying an additional 89,685 shares during the period. Quadrant Capital Group LLC increased its position in shares of STMicroelectronics N.V. by 388.3% in the first quarter. Quadrant Capital Group LLC now owns 8,672 shares of the semiconductor producer’s stock worth $131,000 after buying an additional 6,896 shares during the period. Finally, Highland Capital Management LLC increased its position in shares of STMicroelectronics N.V. by 1.6% in the first quarter. Highland Capital Management LLC now owns 226,127 shares of the semiconductor producer’s stock worth $3,496,000 after buying an additional 3,630 shares during the period. 5.08% of the stock is owned by hedge funds and other institutional investors.
STMicroelectronics N.V. Company Profile
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal 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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