STMicroelectronics N.V. (NYSE:STM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, July 29th. The brokerage currently has a $19.00 price target on the semiconductor producer’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.01% from the stock’s previous close.
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. “
A number of other analysts also recently commented on STM. BidaskClub upgraded shares of STMicroelectronics N.V. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. J P Morgan Chase & Co upgraded shares of STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 11th. Stifel Nicolaus upgraded shares of STMicroelectronics N.V. from a “hold” rating to a “buy” rating and cut their price target for the company from $14.84 to $14.50 in a report on Tuesday, June 27th. Robert W. Baird boosted their price target on shares of 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 set a $20.00 price objective on shares of STMicroelectronics N.V. in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.38.
STMicroelectronics N.V. (NYSE:STM) traded up 0.030% on Friday, reaching $16.525. 1,866,091 shares of the company traded hands. STMicroelectronics N.V. has a 12 month low of $7.24 and a 12 month high of $17.46. The company has a 50-day moving average price of $15.95 and a 200-day moving average price of $15.48. The company has a market capitalization of $14.67 billion, a P/E ratio of 33.793 and a beta of 0.66.
STMicroelectronics N.V. (NYSE:STM) last posted its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts expect that STMicroelectronics N.V. will post $0.82 EPS for the current year.
STMicroelectronics N.V. declared that its board has approved a stock buyback plan on Thursday, June 22nd that authorizes the company to buyback $297.00 million in shares. This buyback authorization authorizes the semiconductor producer to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in STMicroelectronics N.V. during the first quarter valued at approximately $1,047,000. Janney Montgomery Scott LLC acquired a new position in shares of STMicroelectronics N.V. during the first quarter worth about $960,000. Acadian Asset Management LLC boosted its position in shares of STMicroelectronics N.V. by 629.6% in the first quarter. Acadian Asset Management LLC now owns 3,807,959 shares of the semiconductor producer’s stock worth $58,870,000 after buying an additional 3,286,041 shares in the last quarter. IFC Holdings Incorporated FL boosted its position in shares of STMicroelectronics N.V. by 500.7% in the first quarter. IFC Holdings Incorporated FL now owns 111,066 shares of the semiconductor producer’s stock worth $1,721,000 after buying an additional 92,576 shares in the last quarter. Finally, Navellier & Associates Inc acquired a new position in shares of STMicroelectronics N.V. during the first quarter worth about $5,888,000. 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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