Zacks Investment Research upgraded shares of STMicroelectronics N.V. (NYSE:STM) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday, October 31st. They currently have $27.00 price target on the semiconductor producer’s stock.
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 equities analysts have also recently issued reports on STM. Craig Hallum reissued a buy rating on shares of STMicroelectronics N.V. in a report on Wednesday, September 13th. J P Morgan Chase & Co raised STMicroelectronics N.V. from a neutral rating to an overweight rating in a report on Tuesday, July 11th. Finally, BidaskClub raised STMicroelectronics N.V. from a hold rating to a buy rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. STMicroelectronics N.V. currently has an average rating of Buy and a consensus target price of $21.88.
Shares of STMicroelectronics N.V. (STM) traded down $0.19 during trading on Tuesday, hitting $24.01. The company’s stock had a trading volume of 1,911,318 shares, compared to its average volume of 4,575,505. The company has a current ratio of 2.29, a quick ratio of 1.73 and a debt-to-equity ratio of 0.33. The stock has a market cap of $21,873.83, a price-to-earnings ratio of 32.89, a PEG ratio of 5.35 and a beta of 0.80. STMicroelectronics N.V. has a one year low of $9.34 and a one year high of $24.80.
STMicroelectronics N.V. (NYSE:STM) last released its quarterly earnings data on Thursday, October 26th. The semiconductor producer reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.10 billion. STMicroelectronics N.V. had a return on equity of 13.47% and a net margin of 7.84%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. analysts forecast that STMicroelectronics N.V. will post 0.9 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of STM. Bank of New York Mellon Corp acquired a new position in shares of STMicroelectronics N.V. during the first quarter worth approximately $210,000. JPMorgan Chase & Co. raised its holdings in STMicroelectronics N.V. by 1,137.8% in the first quarter. JPMorgan Chase & Co. now owns 117,885 shares of the semiconductor producer’s stock worth $1,822,000 after purchasing an additional 108,361 shares during the period. Alliancebernstein L.P. bought a new stake in shares of STMicroelectronics N.V. during the first quarter worth $3,092,000. FMR LLC bought a new stake in shares of STMicroelectronics N.V. during the first quarter worth $21,932,000. Finally, PNC Financial Services Group Inc. increased 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 acquiring an additional 4,175 shares in the last quarter. 5.21% of the stock is currently owned by hedge funds and other institutional investors.
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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