STMicroelectronics N.V. (STM) Shares Gap Up to $18.74

STMicroelectronics N.V. (NYSE:STM)’s share price gapped up prior to trading on Friday . The stock had previously closed at $19.09, but opened at $18.74. STMicroelectronics N.V. shares last traded at $18.79, with a volume of 4,022,337 shares.

A number of research firms recently commented on STM. Zacks Investment Research lowered STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub raised STMicroelectronics N.V. from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Stifel Nicolaus lowered STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Finally, J P Morgan Chase & Co raised STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $18.38.

The stock’s 50-day moving average is $17.03 and its 200 day moving average is $15.98. The firm has a market cap of $16.58 billion, a PE ratio of 38.20 and a beta of 0.64.

STMicroelectronics N.V. (NYSE:STM) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.01. STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the business earned $0.03 earnings per share. STMicroelectronics N.V.’s revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate that STMicroelectronics N.V. will post $0.82 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Tuesday, September 19th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, September 18th. This represents a $0.24 annualized dividend and a yield of 1.28%. STMicroelectronics N.V.’s payout ratio is 40.00%.

STMicroelectronics N.V. declared that its board has initiated 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 purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its position in STMicroelectronics N.V. by 17.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,651 shares of the semiconductor producer’s stock worth $111,224,000 after acquiring an additional 1,151,164 shares during the last quarter. Renaissance Technologies LLC grew its position in STMicroelectronics N.V. by 362.4% during the 1st quarter. Renaissance Technologies LLC now owns 5,299,919 shares of the semiconductor producer’s stock worth $81,713,000 after acquiring an additional 4,153,795 shares during the last quarter. Acadian Asset Management LLC grew its position in STMicroelectronics N.V. by 21.4% during the 2nd quarter. Acadian Asset Management LLC now owns 4,624,153 shares of the semiconductor producer’s stock worth $66,495,000 after acquiring an additional 816,194 shares during the last quarter. Sensato Investors LLC grew its position in STMicroelectronics N.V. by 17.2% during the 2nd quarter. Sensato Investors LLC now owns 1,941,246 shares of the semiconductor producer’s stock worth $27,915,000 after acquiring an additional 285,200 shares during the last quarter. Finally, Quentec Asset Management LLC grew its position in shares of STMicroelectronics N.V. by 121.7% in the 2nd quarter. Quentec Asset Management LLC now owns 1,835,373 shares of the semiconductor producer’s stock worth $26,393,000 after buying an additional 1,007,467 shares during the last quarter. Institutional investors and hedge funds own 5.29% of the company’s stock.

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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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