STMicroelectronics NV (STM) Reaches New 52-Week High at $8.04
STMicroelectronics NV (NYSE:STM) shares reached a new 52-week high on Wednesday . The company traded as high as $8.04 and last traded at $7.98, with a volume of 1,329,988 shares trading hands. The stock had previously closed at $7.94.
A number of research firms have weighed in on STM. Zacks Investment Research upgraded STMicroelectronics NV from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Friday, July 29th. TheStreet upgraded STMicroelectronics NV from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Finally, Bank of America Corp. downgraded STMicroelectronics NV from a “neutral” rating to an “underperform” rating in a research note on Friday, September 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. STMicroelectronics NV has a consensus rating of “Hold” and a consensus price target of $7.83.
The company has a 50-day moving average of $7.54 and a 200 day moving average of $6.27. The firm has a market capitalization of $7.05 billion, a P/E ratio of 95.00 and a beta of 0.90.
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STMicroelectronics NV (NYSE:STM) last announced its earnings results on Wednesday, July 27th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.04 by $0.00. STMicroelectronics NV had a net margin of 1.10% and a return on equity of 2.55%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.76 million. During the same quarter in the previous year, the company earned $0.04 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts anticipate that STMicroelectronics NV will post $0.20 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 27th. Shareholders of record on Tuesday, September 20th will be issued a $0.06 dividend. The ex-dividend date is Friday, September 16th. This represents a $0.24 annualized dividend and a yield of 3.02%. STMicroelectronics NV’s payout ratio is currently 250.03%.
A number of hedge funds and other institutional investors have recently made changes to their positions in STM. Sensato Investors LLC raised its position in shares of STMicroelectronics NV by 62.7% in the first quarter. Sensato Investors LLC now owns 2,608,731 shares of the company’s stock valued at $14,557,000 after buying an additional 1,005,411 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 during the last quarter. Parametric Portfolio Associates LLC raised its position 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 during the last quarter. Guggenheim Capital LLC raised its position 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 during the last quarter. Finally, Highland Capital Management LLC raised its position 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 during the last quarter. Institutional investors and hedge funds own 2.07% of the company’s stock.
About STMicroelectronics NV
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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