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.

COPYRIGHT VIOLATION WARNING: This story was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/08/07/j-p-morgan-chase-co-upgrades-stmicroelectronics-n-v-nysestm-to-overweight-updated-updated-updated.html.

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.

Analyst Recommendations for STMicroelectronics N.V. (NYSE:STM)

Receive News & Stock 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 stocks with our FREE daily email newsletter.