STMicroelectronics NV (STM) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of STMicroelectronics NV (NYSE:STM) from a hold rating to a buy rating in a research report released on Thursday morning. They currently have $9.00 price target on the stock.
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 weighed in on the stock. TheStreet raised shares of STMicroelectronics NV from a hold rating to a buy rating in a research report on Thursday, August 4th. Bank of America Corp. cut shares of STMicroelectronics NV from a neutral rating to an underperform rating in a research report on Friday, September 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $8.17.
Shares of STMicroelectronics NV (NYSE:STM) traded up 0.427% during midday trading on Thursday, hitting $8.235. The stock had a trading volume of 1,225,236 shares. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 98.036 and a beta of 0.93. The stock’s 50-day moving average price is $7.78 and its 200 day moving average price is $6.45. STMicroelectronics NV has a 52 week low of $5.11 and a 52 week high of $8.30.
STMicroelectronics NV (NYSE:STM) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.00. The company had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.76 million. STMicroelectronics NV had a return on equity of 2.55% and a net margin of 1.10%. STMicroelectronics NV’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.04 EPS. On average, equities analysts forecast that STMicroelectronics NV will post $0.20 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, September 20th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Friday, September 16th. STMicroelectronics NV’s dividend payout ratio is currently 250.03%.
Several institutional investors have recently made changes to their positions in STM. Sensato Investors LLC boosted its position in shares of STMicroelectronics NV by 62.7% in the first quarter. Sensato Investors LLC now owns 2,608,731 shares of the company’s stock valued at $14,557,000 after buying an additional 1,005,411 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of STMicroelectronics NV by 354.1% in the second quarter. JPMorgan Chase & Co. now owns 490,582 shares of the company’s stock valued at $2,890,000 after buying an additional 382,550 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of STMicroelectronics NV by 97.0% in the second quarter. Parametric Portfolio Associates LLC now owns 469,701 shares of the company’s stock valued at $2,767,000 after buying an additional 231,256 shares in the last quarter. OLD Mission Capital LLC bought a new position in shares of STMicroelectronics NV during the second quarter valued at about $674,000. Finally, Advisor Group Inc. bought a new position in shares of STMicroelectronics NV during the second quarter valued at about $577,000. Institutional investors own 2.07% of the company’s stock.
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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