STMicroelectronics NV (STM) Price Target Cut to $8.00
STMicroelectronics NV (NYSE:STM) had its price objective cut by stock analysts at Craig Hallum from $10.00 to $8.00 in a research report issued on Friday. The firm currently has a “buy” rating on the stock.
Several other equities research analysts have also recently weighed in on the company. TheStreet upgraded STMicroelectronics NV from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Zacks Investment Research cut STMicroelectronics NV from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Robert W. Baird upgraded STMicroelectronics NV from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $7.00 to $11.00 in a research note on Monday, October 10th. Finally, Bank of America Corp. cut 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 four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $8.70.
Shares of STMicroelectronics NV (NYSE:STM) opened at 8.00 on Friday. STMicroelectronics NV has a 1-year low of $5.11 and a 1-year high of $8.41. The company has a 50-day moving average of $7.84 and a 200-day moving average of $6.56. The firm has a market cap of $7.07 billion, a PE ratio of 95.24 and a beta of 0.93.
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STMicroelectronics NV (NYSE:STM) last posted its earnings results on Wednesday, July 27th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.04 by $0.00. The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations 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 firm earned $0.04 EPS. Analysts predict that STMicroelectronics NV will post $0.20 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 27th. Stockholders of record on Tuesday, September 20th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, September 16th. STMicroelectronics NV’s dividend payout ratio (DPR) is presently 250.03%.
Several large investors have recently added to or reduced their stakes in the company. 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 approximately $674,000. Finally, Advisor Group Inc. bought a new stake in STMicroelectronics NV during the second quarter valued at approximately $577,000. 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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