STMicroelectronics N.V. (STM) Upgraded at Zacks Investment Research
STMicroelectronics N.V. (NYSE:STM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm presently has a $27.00 price target on the semiconductor producer’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.65% from the company’s current price.
According to Zacks, “STMicroelectronics is a global independent semiconductor company which designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. “
A number of other analysts have also recently issued reports on the company. Craig Hallum reissued a “buy” rating on shares of STMicroelectronics N.V. in a research note on Wednesday, September 13th. J P Morgan Chase & Co raised STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 11th. Finally, BidaskClub raised STMicroelectronics N.V. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. STMicroelectronics N.V. currently has an average rating of “Buy” and a consensus target price of $21.88.
STMicroelectronics N.V. (NYSE STM) opened at 23.55 on Tuesday. STMicroelectronics N.V. has a 12 month low of $8.87 and a 12 month high of $23.97. The company’s 50-day moving average is $19.96 and its 200-day moving average is $17.22. The stock has a market capitalization of $20.91 billion, a P/E ratio of 48.16 and a beta of 0.70.
STMicroelectronics N.V. (NYSE:STM) last posted its earnings results on Thursday, October 26th. The semiconductor producer reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. STMicroelectronics N.V. had a return on equity of 13.47% and a net margin of 7.84%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the business earned $0.11 EPS. STMicroelectronics N.V.’s revenue for the quarter was up 18.9% compared to the same quarter last year. Equities analysts anticipate that STMicroelectronics N.V. will post $0.84 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “STMicroelectronics N.V. (STM) Upgraded at Zacks Investment Research” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was copied illegally and republished in violation of international trademark & copyright law. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/10/31/stmicroelectronics-n-v-stm-upgraded-at-zacks-investment-research.html.
Several institutional investors and hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC grew 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. CIBC World Markets Inc. grew its stake in shares of STMicroelectronics N.V. by 8.1% during the 2nd quarter. CIBC World Markets Inc. now owns 13,636 shares of the semiconductor producer’s stock worth $196,000 after acquiring an additional 1,027 shares in the last quarter. Wetherby Asset Management Inc. grew its stake in shares of STMicroelectronics N.V. by 7.1% during the 2nd quarter. Wetherby Asset Management Inc. now owns 16,514 shares of the semiconductor producer’s stock worth $237,000 after acquiring an additional 1,101 shares in the last quarter. Financial Architects Inc grew 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. Finally, Bank of Montreal Can grew its stake in shares of STMicroelectronics N.V. by 4.6% during the 2nd quarter. Bank of Montreal Can now owns 30,957 shares of the semiconductor producer’s stock worth $445,000 after acquiring an additional 1,349 shares in the last quarter. 5.30% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for STMicroelectronics N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics N.V. and related companies with MarketBeat.com's FREE daily email newsletter.