STMicroelectronics N.V. (STM) Shares Gap Down to $18.61
Shares of STMicroelectronics N.V. (NYSE:STM) gapped down before the market opened on Tuesday . The stock had previously closed at $18.05, but opened at $18.61. STMicroelectronics N.V. shares last traded at $18.61, with a volume of 1,795,631 shares trading hands.
Several research firms have recently weighed in on STM. Craig Hallum reaffirmed a “buy” rating on shares of STMicroelectronics N.V. in a research note on Wednesday, September 13th. Zacks Investment Research downgraded shares of STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub raised shares of STMicroelectronics N.V. from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. J P Morgan Chase & Co raised shares of STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus raised shares of STMicroelectronics N.V. from a “hold” rating to a “buy” rating and decreased their price target for the company from $14.84 to $14.50 in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $18.38.
The firm’s 50 day moving average is $17.58 and its 200-day moving average is $16.21. The company has a market capitalization of $16.97 billion, a PE ratio of 39.08 and a beta of 0.64.
STMicroelectronics N.V. (NYSE:STM) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. On average, analysts expect that STMicroelectronics N.V. will post $0.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 26th. Investors of record on Tuesday, September 19th were given a dividend of $0.06 per share. The ex-dividend date was Monday, September 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.29%. STMicroelectronics N.V.’s payout ratio is currently 40.00%.
STMicroelectronics N.V. declared that its Board of Directors has approved a stock buyback plan on Thursday, June 22nd that allows the company to repurchase $297.00 million in shares. This repurchase authorization allows the semiconductor producer to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its position in STMicroelectronics N.V. by 5.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 9,105 shares of the semiconductor producer’s stock valued at $127,000 after buying an additional 433 shares during the period. Comerica Bank boosted its position in STMicroelectronics N.V. by 1.4% in the 1st quarter. Comerica Bank now owns 52,343 shares of the semiconductor producer’s stock valued at $814,000 after buying an additional 729 shares during the period. CIBC World Markets Inc. boosted its position in STMicroelectronics N.V. by 8.1% in the 2nd quarter. CIBC World Markets Inc. now owns 13,636 shares of the semiconductor producer’s stock valued at $196,000 after buying an additional 1,027 shares during the period. Wetherby Asset Management Inc. boosted its position in STMicroelectronics N.V. by 7.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 16,514 shares of the semiconductor producer’s stock valued at $237,000 after buying an additional 1,101 shares during the period. Finally, Financial Architects Inc boosted its position in STMicroelectronics N.V. by 14.8% in the 2nd quarter. Financial Architects Inc now owns 9,141 shares of the semiconductor producer’s stock valued at $132,000 after buying an additional 1,181 shares during the period. 5.28% of the stock is owned by institutional investors.
STMicroelectronics N.V. Company Profile
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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