STMicroelectronics NV (STM) Short Interest Up 40.2% in September
STMicroelectronics NV (NYSE:STM) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 3,266,343 shares, a growth of 40.2% from the September 15th total of 2,329,703 shares. Based on an average trading volume of 2,506,116 shares, the days-to-cover ratio is currently 1.3 days.
Shares of STMicroelectronics NV (NYSE:STM) opened at 8.26 on Wednesday. The stock’s 50 day moving average price is $7.88 and its 200 day moving average price is $6.61. STMicroelectronics NV has a 1-year low of $5.11 and a 1-year high of $8.41. The company has a market cap of $7.30 billion, a P/E ratio of 98.33 and a beta of 0.93.
STMicroelectronics NV (NYSE:STM) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.00. The company earned $1.70 million during the quarter, compared to the consensus estimate of $1.76 million. STMicroelectronics NV had a net margin of 1.10% and a return on equity of 2.55%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 earnings per share. Equities research analysts forecast that STMicroelectronics NV will post $0.20 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, September 20th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, September 16th. STMicroelectronics NV’s dividend payout ratio (DPR) is currently 250.03%.
A number of equities research analysts have recently weighed in on the company. Robert W. Baird upgraded STMicroelectronics NV from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $7.00 to $11.00 in a report on Monday, October 10th. 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 report on Friday, July 29th. TheStreet upgraded STMicroelectronics NV from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Bank of America Corp. downgraded STMicroelectronics NV from a “neutral” rating to an “underperform” rating in a report on Friday, September 2nd. Finally, Craig Hallum lowered their price target on STMicroelectronics NV from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, October 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $8.70.
Several large investors have recently modified their holdings of the stock. First Trust Advisors LP boosted its stake in shares of STMicroelectronics NV by 44.6% in the second quarter. First Trust Advisors LP now owns 123,756 shares of the company’s stock valued at $729,000 after buying an additional 38,170 shares during the period. BNP Paribas Arbitrage SA bought a new stake in shares of STMicroelectronics NV during the second quarter valued at about $206,000. Checchi Capital Advisers LLC boosted its stake in shares of STMicroelectronics NV by 13.6% in the second quarter. Checchi Capital Advisers LLC now owns 19,213 shares of the company’s stock valued at $113,000 after buying an additional 2,302 shares during the period. 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 last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in STMicroelectronics NV by 0.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,970 shares of the company’s stock valued at $106,000 after buying an additional 162 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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