$2.10 Billion in Sales Expected for STMicroelectronics N.V. (STM) This Quarter
Equities analysts expect STMicroelectronics N.V. (NYSE:STM) to post $2.10 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for STMicroelectronics N.V.’s earnings, with the highest sales estimate coming in at $2.11 billion and the lowest estimate coming in at $2.10 billion. STMicroelectronics N.V. reported sales of $1.80 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The firm is scheduled to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that STMicroelectronics N.V. will report full year sales of $2.10 billion for the current year, with estimates ranging from $7.98 billion to $8.08 billion. For the next financial year, analysts expect that the firm will post sales of $8.71 billion per share, with estimates ranging from $8.58 billion to $8.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover STMicroelectronics N.V..
STMicroelectronics N.V. (NYSE:STM) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share.
STM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. Stifel Nicolaus raised shares of STMicroelectronics N.V. from a “hold” rating to a “buy” rating and lowered their price target for the stock from $14.84 to $14.50 in a report on Tuesday, June 27th. BidaskClub downgraded shares of STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. J P Morgan Chase & Co raised shares of STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 11th. Finally, Craig Hallum reissued a “buy” rating on shares of STMicroelectronics N.V. in a report on Wednesday, September 13th. 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. The company presently has an average rating of “Buy” and a consensus price target of $18.38.
A number of institutional investors and hedge funds have recently bought and sold shares of STM. Renaissance Technologies LLC lifted its holdings in STMicroelectronics N.V. by 362.4% during the first quarter. Renaissance Technologies LLC now owns 5,299,919 shares of the semiconductor producer’s stock valued at $81,713,000 after purchasing an additional 4,153,795 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in STMicroelectronics N.V. during the first quarter valued at $23,004,000. FMR LLC purchased a new position in STMicroelectronics N.V. during the first quarter valued at $21,932,000. JPMorgan Chase & Co. lifted its holdings in STMicroelectronics N.V. by 1,004.2% during the second quarter. JPMorgan Chase & Co. now owns 1,301,673 shares of the semiconductor producer’s stock valued at $18,718,000 after purchasing an additional 1,183,788 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in STMicroelectronics N.V. by 17.5% during 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 purchasing an additional 1,151,164 shares in the last quarter. 5.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of STMicroelectronics N.V. (NYSE:STM) opened at 19.49 on Friday. The stock’s 50 day moving average is $17.58 and its 200 day moving average is $16.21. STMicroelectronics N.V. has a 12 month low of $7.76 and a 12 month high of $19.90. The company has a market capitalization of $17.30 billion, a P/E ratio of 39.86 and a beta of 0.64.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Tuesday, September 19th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, September 18th. STMicroelectronics N.V.’s payout ratio is 40.00%.
STMicroelectronics N.V. declared that its board has initiated a stock buyback plan on Thursday, June 22nd that authorizes the company to buyback $297.00 million in outstanding shares. This buyback authorization authorizes the semiconductor producer to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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