STMicroelectronics N.V. (STM) Given “Buy” Rating at Craig Hallum
STMicroelectronics N.V. (NYSE:STM)‘s stock had its “buy” rating reaffirmed by equities researchers at Craig Hallum in a research note issued to investors on Wednesday.
A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub upgraded STMicroelectronics N.V. from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. J P Morgan Chase & Co upgraded STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus upgraded STMicroelectronics N.V. from a “hold” rating to a “buy” rating and lowered their target price for the company from $14.84 to $14.50 in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, three have assigned 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 “Buy” and an average price target of $18.38.
Shares of STMicroelectronics N.V. (NYSE STM) traded up 2.001% during mid-day trading on Wednesday, reaching $19.115. The company’s stock had a trading volume of 2,843,202 shares. The firm’s 50 day moving average is $17.22 and its 200-day moving average is $16.07. The company has a market capitalization of $16.97 billion, a PE ratio of 39.090 and a beta of 0.64. STMicroelectronics N.V. has a 52-week low of $7.56 and a 52-week high of $19.22.
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 analysts’ consensus estimates of $0.18 by ($0.01). STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts forecast that STMicroelectronics N.V. will post $0.82 EPS for the current year.
STMicroelectronics N.V. announced that its board has initiated a stock repurchase program on Thursday, June 22nd that authorizes the company to buyback $297.00 million in shares. This buyback authorization authorizes the semiconductor producer to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in STM. PNC Financial Services Group Inc. boosted its stake in shares of STMicroelectronics N.V. by 114.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,808 shares of the semiconductor producer’s stock worth $121,000 after acquiring an additional 4,175 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of STMicroelectronics N.V. by 5.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 9,105 shares of the semiconductor producer’s stock worth $127,000 after acquiring an additional 433 shares in the last quarter. Financial Architects Inc boosted its stake in shares of STMicroelectronics N.V. by 14.8% during the 2nd quarter. Financial Architects Inc now owns 9,141 shares of the semiconductor producer’s stock worth $132,000 after acquiring an additional 1,181 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of STMicroelectronics N.V. during the 2nd quarter worth about $156,000. Finally, Atria Investments LLC bought a new stake in shares of STMicroelectronics N.V. during the 2nd quarter worth about $160,000. Institutional investors own 5.29% of the company’s stock.
About STMicroelectronics N.V.
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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