STMicroelectronics N.V. (STM) Shares Gap Down to $19.87
Shares of STMicroelectronics N.V. (NYSE:STM) gapped down before the market opened on Thursday . The stock had previously closed at $20.28, but opened at $19.87. STMicroelectronics N.V. shares last traded at $19.75, with a volume of 3,156,573 shares.
STM has been the subject of a number of recent analyst reports. Stifel Nicolaus raised STMicroelectronics N.V. from a “hold” rating to a “buy” rating and decreased their price target for the stock from $14.84 to $14.50 in a report on Tuesday, June 27th. BidaskClub downgraded STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. J P Morgan Chase & Co raised STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 11th. Zacks Investment Research raised STMicroelectronics N.V. from a “sell” rating to a “hold” rating and set a $19.00 price target for the company in a report on Saturday, July 29th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of STMicroelectronics N.V. in a report on Wednesday, September 13th. One research analyst has 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 company’s stock. The stock presently has an average rating of “Buy” and an average target price of $18.38.
The company has a 50 day moving average price of $19.26 and a 200-day moving average price of $16.86. The stock has a market cap of $17.53 billion, a price-to-earnings ratio of 40.39 and a beta of 0.70.
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 analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. On average, equities analysts forecast that STMicroelectronics N.V. will post $0.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 26th. Shareholders of record on Tuesday, September 19th were given a $0.06 dividend. The ex-dividend date was Monday, September 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.22%. STMicroelectronics N.V.’s payout ratio is currently 40.00%.
STMicroelectronics N.V. declared that its Board of Directors has approved a stock repurchase program on Thursday, June 22nd that authorizes the company to buyback $297.00 million in outstanding shares. This buyback authorization authorizes the semiconductor producer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in shares of STMicroelectronics N.V. by 114.9% during the first quarter. PNC Financial Services Group Inc. now owns 7,808 shares of the semiconductor producer’s stock worth $121,000 after purchasing an additional 4,175 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of STMicroelectronics N.V. by 5.0% during the second quarter. Quadrant Capital Group LLC now owns 9,105 shares of the semiconductor producer’s stock worth $127,000 after purchasing an additional 433 shares during the last quarter. Financial Architects Inc lifted its position in shares of STMicroelectronics N.V. by 14.8% during the second quarter. Financial Architects Inc now owns 9,141 shares of the semiconductor producer’s stock worth $132,000 after purchasing an additional 1,181 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of STMicroelectronics N.V. during the second quarter worth about $156,000. Finally, Atria Investments LLC bought a new position in shares of STMicroelectronics N.V. during the second quarter worth about $160,000. 5.35% of the stock is currently owned by institutional investors and hedge funds.
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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