STMicroelectronics NV (STM) Downgraded to “Hold” at Zacks Investment Research
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. “
Several other equities analysts have also recently commented on the company. Bank of America Corp. cut STMicroelectronics NV from a neutral rating to an underperform rating in a research report on Friday, September 2nd. TheStreet upgraded STMicroelectronics NV from a hold rating to a buy rating in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $7.83.
STMicroelectronics NV (NYSE:STM) traded down 3.1728% during trading on Wednesday, reaching $7.9011. The company’s stock had a trading volume of 1,236,488 shares. The stock has a 50-day moving average price of $7.68 and a 200 day moving average price of $6.36. The company has a market cap of $6.98 billion, a PE ratio of 94.0607 and a beta of 0.90. STMicroelectronics NV has a 52-week low of $5.11 and a 52-week high of $8.21.
STMicroelectronics NV (NYSE:STM) last posted its earnings results on Wednesday, July 27th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.00. STMicroelectronics NV had a return on equity of 2.55% and a net margin of 1.10%. The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $1.76 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. STMicroelectronics NV’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts expect that STMicroelectronics NV will post $0.20 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 27th. Stockholders of record on Tuesday, September 20th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, September 16th. STMicroelectronics NV’s dividend payout ratio (DPR) is presently 250.03%.
Several large investors have recently added to or reduced their stakes in the stock. Stevens Capital Management LP raised its stake in STMicroelectronics NV by 232.7% in the second quarter. Stevens Capital Management LP now owns 72,279 shares of the company’s stock worth $426,000 after buying an additional 50,553 shares during the period. JPMorgan Chase & Co. raised its position in STMicroelectronics NV by 354.1% in the second quarter. JPMorgan Chase & Co. now owns 490,582 shares of the company’s stock worth $2,890,000 after buying an additional 382,550 shares during the last quarter. First Trust Advisors LP raised its position in STMicroelectronics NV by 44.6% in the second quarter. First Trust Advisors LP now owns 123,756 shares of the company’s stock worth $729,000 after buying an additional 38,170 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position 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 worth $106,000 after buying an additional 162 shares during the last quarter. Finally, Societe Generale acquired a new position in STMicroelectronics NV during the second quarter worth approximately $359,000. 2.07% of the stock is owned by institutional investors.
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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