STMicroelectronics N.V. (NYSE:STM) Upgraded at J P Morgan Chase & Co
STMicroelectronics N.V. (NYSE:STM) was upgraded by investment analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a research report issued on Tuesday, July 11th, Marketbeat reports.
A number of other equities analysts also recently commented on the company. Zacks Investment Research downgraded STMicroelectronics N.V. from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. BidaskClub downgraded STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Stifel Nicolaus raised STMicroelectronics N.V. from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $14.84 to $14.50 in a research report on Tuesday, June 27th. Robert W. Baird upped their price target on STMicroelectronics N.V. from $15.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target on shares of STMicroelectronics N.V. in a report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. STMicroelectronics N.V. presently has an average rating of “Hold” and a consensus price target of $18.38.
Shares of STMicroelectronics N.V. (STM) traded up 1.46% on Tuesday, reaching $17.32. 2,449,354 shares of the company’s stock traded hands. The company has a market cap of $15.38 billion, a PE ratio of 35.42 and a beta of 0.66. STMicroelectronics N.V. has a 12-month low of $6.97 and a 12-month high of $17.34. The stock has a 50-day moving average price of $15.60 and a 200-day moving average price of $15.28.
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 Zacks’ consensus estimate of $0.18 by $0.01. STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the firm posted $0.03 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that STMicroelectronics N.V. will post $0.82 EPS for the current fiscal year.
STMicroelectronics N.V. announced that its board has approved a stock buyback program on Thursday, June 22nd that authorizes the company to buyback $297.00 million in shares. This buyback authorization authorizes the semiconductor producer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STM. Envestnet Asset Management Inc. boosted its position in STMicroelectronics N.V. by 20.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,607 shares of the semiconductor producer’s stock valued at $119,000 after buying an additional 1,771 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in STMicroelectronics N.V. by 114.9% in the first quarter. PNC Financial Services Group Inc. now owns 7,808 shares of the semiconductor producer’s stock valued at $121,000 after buying an additional 4,175 shares during the last quarter. Financial Architects Inc acquired a new position in STMicroelectronics N.V. during the first quarter valued at about $123,000. Quadrant Capital Group LLC boosted its position in STMicroelectronics N.V. by 388.3% in the first quarter. Quadrant Capital Group LLC now owns 8,672 shares of the semiconductor producer’s stock valued at $131,000 after buying an additional 6,896 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in STMicroelectronics N.V. during the fourth quarter valued at about $133,000. Hedge funds and other institutional investors own 5.08% 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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