Robert W. Baird Upgrades STMicroelectronics NV (STM) to “Outperform”
STMicroelectronics NV (NYSE:STM) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Monday. The brokerage currently has a $11.00 target price on the stock, up from their previous target price of $7.00. Robert W. Baird’s target price points to a potential upside of 32.37% from the company’s previous close.
Several other research analysts also recently commented on the stock. TheStreet raised shares of STMicroelectronics NV from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Zacks Investment Research raised shares of STMicroelectronics NV from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Friday, July 29th. Finally, Bank of America Corp. downgraded shares of STMicroelectronics NV from a “neutral” rating to an “underperform” rating in a report on Friday, September 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. STMicroelectronics NV has an average rating of “Buy” and an average price target of $8.88.
Shares of STMicroelectronics NV (NYSE:STM) traded up 0.72% during mid-day trading on Monday, hitting $8.37. 1,761,467 shares of the company traded hands. STMicroelectronics NV has a 1-year low of $5.11 and a 1-year high of $8.41. The firm’s 50 day moving average price is $7.80 and its 200-day moving average price is $6.47. The stock has a market capitalization of $7.39 billion, a PE ratio of 99.64 and a beta of 0.93.
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STMicroelectronics NV (NYSE:STM) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.00. The business earned $1.70 million during the quarter, compared to the consensus estimate of $1.76 million. STMicroelectronics NV had a return on equity of 2.55% and a net margin of 1.10%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business posted $0.04 earnings per share. On average, equities research analysts forecast that STMicroelectronics NV will post $0.20 EPS for the current year.
The business also recently disclosed 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. This represents a $0.24 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Friday, September 16th. STMicroelectronics NV’s dividend payout ratio (DPR) is currently 250.03%.
Several hedge funds have recently bought and sold shares of the stock. Sensato Investors LLC boosted its stake in 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 period. JPMorgan Chase & Co. boosted its stake 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 period. Parametric Portfolio Associates LLC boosted its stake in 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 period. OLD Mission Capital LLC bought a new stake in STMicroelectronics NV during the second quarter valued at $674,000. Finally, Advisor Group Inc. bought a new stake in STMicroelectronics NV during the second quarter valued at $577,000. Hedge funds and other institutional investors 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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