STMicroelectronics NV (STM) Shares Gap Up to $7.79
Shares of STMicroelectronics NV (NYSE:STM) gapped up prior to trading on Tuesday . The stock had previously closed at $7.76, but opened at $7.79. STMicroelectronics NV shares last traded at $7.93, with a volume of 1,813,246 shares changing hands.
A number of analysts have commented on the stock. Bank of America Corp. lowered shares of STMicroelectronics NV from a “neutral” rating to an “underperform” rating in a report on Friday, September 2nd. Zacks Investment Research raised shares of STMicroelectronics NV from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a report on Friday, July 29th. Finally, TheStreet raised shares of STMicroelectronics NV from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. STMicroelectronics NV has an average rating of “Hold” and an average target price of $7.83.
The firm has a 50-day moving average price of $7.54 and a 200 day moving average price of $6.27. The stock has a market cap of $7.01 billion, a P/E ratio of 94.52 and a beta of 0.90.
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STMicroelectronics NV (NYSE:STM) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by $0.00. STMicroelectronics NV had a net margin of 1.10% and a return on equity of 2.55%. The firm had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.76 million. During the same period in the previous year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts anticipate that STMicroelectronics NV will post $0.20 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 27th. Investors of record on Tuesday, September 20th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Friday, September 16th. STMicroelectronics NV’s payout ratio is currently 250.03%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sensato Investors LLC raised its position in STMicroelectronics NV by 62.7% in the first quarter. Sensato Investors LLC now owns 2,608,731 shares of the company’s stock worth $14,557,000 after buying an additional 1,005,411 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of STMicroelectronics NV by 97.0% in the second quarter. Parametric Portfolio Associates LLC now owns 469,701 shares of the company’s stock valued at $2,767,000 after buying an additional 231,256 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of STMicroelectronics NV by 0.5% in the second quarter. Guggenheim Capital LLC now owns 254,028 shares of the company’s stock valued at $1,496,000 after buying an additional 1,217 shares in the last quarter. Finally, Highland Capital Management LLC raised its stake in shares of STMicroelectronics NV by 1.1% in the second quarter. Highland Capital Management LLC now owns 220,097 shares of the company’s stock valued at $1,296,000 after buying an additional 2,500 shares in the last quarter. 2.07% of the stock is currently owned by institutional investors.
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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