STMicroelectronics N.V. (STM) Short Interest Update
STMicroelectronics N.V. (NYSE:STM) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 6,379,399 shares, an increase of 43.4% from the July 14th total of 4,447,541 shares. Based on an average trading volume of 4,255,772 shares, the days-to-cover ratio is presently 1.5 days.
STMicroelectronics N.V. (STM) opened at 16.86 on Wednesday. The company has a 50 day moving average of $16.11 and a 200-day moving average of $15.62. STMicroelectronics N.V. has a 12-month low of $7.24 and a 12-month high of $17.46. The stock has a market cap of $14.97 billion, a P/E ratio of 34.48 and a beta of 0.66.
STMicroelectronics N.V. (NYSE:STM) last issued its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. STMicroelectronics N.V.’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. Equities analysts forecast that STMicroelectronics N.V. will post $0.82 earnings per share for the current year.
STMicroelectronics N.V. announced that its Board of Directors has approved a share buyback plan on Thursday, June 22nd that permits the company to repurchase $297.00 million in outstanding shares. This repurchase authorization permits the semiconductor producer to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Tuesday, September 19th will be given a $0.06 dividend. The ex-dividend date is Monday, September 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.42%. STMicroelectronics N.V.’s dividend payout ratio is currently 40.00%.
STM has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Stifel Nicolaus raised shares of STMicroelectronics N.V. from a “hold” rating to a “buy” rating and dropped their price target for the company from $14.84 to $14.50 in a report on Tuesday, June 27th. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price target on shares of STMicroelectronics N.V. in a report on Thursday, April 27th. Zacks Investment Research downgraded shares of STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Robert W. Baird raised their price target on shares of STMicroelectronics N.V. from $15.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. STMicroelectronics N.V. currently has an average rating of “Hold” and a consensus price target of $18.38.
A number of large investors have recently added to or reduced their stakes in the company. Koch Industries Inc. bought a new stake in STMicroelectronics N.V. during the second quarter valued at approximately $374,000. 1st Global Advisors Inc. raised its stake in STMicroelectronics N.V. by 23.0% in the second quarter. 1st Global Advisors Inc. now owns 66,502 shares of the semiconductor producer’s stock valued at $956,000 after buying an additional 12,446 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in STMicroelectronics N.V. by 492.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 98,126 shares of the semiconductor producer’s stock valued at $1,411,000 after buying an additional 81,561 shares in the last quarter. Quadrant Capital Group LLC raised its stake in STMicroelectronics N.V. by 5.0% in the second quarter. Quadrant Capital Group LLC now owns 9,105 shares of the semiconductor producer’s stock valued at $127,000 after buying an additional 433 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in STMicroelectronics N.V. by 17.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 7,734,651 shares of the semiconductor producer’s stock valued at $111,224,000 after buying an additional 1,151,164 shares in the last quarter. Institutional investors and hedge funds own 5.03% of the company’s stock.
STMicroelectronics N.V. Company Profile
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal 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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