A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus raised shares of STMicroelectronics N.V. from a hold rating to a buy rating and dropped their target price for the company from $14.84 to $14.50 in a report on Tuesday, June 27th. Zacks Investment Research cut shares of STMicroelectronics N.V. from a hold rating to a sell rating in a report on Thursday, June 29th. BidaskClub cut shares of STMicroelectronics N.V. from a strong-buy rating to a buy rating in a report on Tuesday, June 27th. Finally, J P Morgan Chase & Co raised shares of STMicroelectronics N.V. from a neutral rating to an overweight rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. STMicroelectronics N.V. has a consensus rating of Buy and a consensus target price of $18.38.
STMicroelectronics N.V. (STM) traded up 2.08% during midday trading on Wednesday, reaching $19.13. The company’s stock had a trading volume of 2,768,199 shares. STMicroelectronics N.V. has a 52 week low of $7.56 and a 52 week high of $19.22. The company’s 50-day moving average is $17.22 and its 200 day moving average is $16.07. The firm has a market capitalization of $16.98 billion, a P/E ratio of 39.12 and a beta of 0.64.
STMicroelectronics N.V. (NYSE:STM) last issued its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business posted $0.03 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. Analysts expect that STMicroelectronics N.V. will post $0.82 earnings per share for the current fiscal year.
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STMicroelectronics N.V. declared that its Board of Directors has authorized a share buyback program on Thursday, June 22nd that allows the company to buyback $297.00 million in shares. This buyback authorization allows the semiconductor producer to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Tuesday, September 19th will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, September 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.28%. STMicroelectronics N.V.’s dividend payout ratio (DPR) is 40.00%.
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its stake in shares of STMicroelectronics N.V. by 433.7% during the 1st quarter. Bank of America Corp DE now owns 519,711 shares of the semiconductor producer’s stock worth $8,035,000 after purchasing an additional 422,337 shares in the last quarter. Airain ltd purchased a new position in shares of STMicroelectronics N.V. during the 2nd quarter worth approximately $1,082,000. Highbridge Capital Management LLC purchased a new position in shares of STMicroelectronics N.V. during the 1st quarter worth approximately $23,004,000. US Bancorp DE increased its stake in shares of STMicroelectronics N.V. by 171.0% during the 2nd quarter. US Bancorp DE now owns 521,292 shares of the semiconductor producer’s stock worth $7,495,000 after purchasing an additional 328,911 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of STMicroelectronics N.V. by 74.8% during the 1st quarter. Jane Street Group LLC now owns 146,237 shares of the semiconductor producer’s stock worth $2,261,000 after purchasing an additional 62,592 shares in the last quarter. 5.29% of the stock is owned by institutional investors and hedge funds.
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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