STMicroelectronics N.V. (NYSE:STM) saw some unusual options trading on Wednesday. Investors purchased 16,299 call options on the company. This is an increase of 597% compared to the typical daily volume of 2,340 call options.
A number of hedge funds and other institutional investors have recently bought and sold shares of STM. Renaissance Technologies LLC grew its holdings 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 in the last quarter. Highbridge Capital Management LLC acquired a new position in STMicroelectronics N.V. during the 1st quarter worth approximately $23,004,000. FMR LLC purchased a new stake in shares of STMicroelectronics N.V. during the 1st quarter worth approximately $21,932,000. JPMorgan Chase & Co. lifted its position in shares of STMicroelectronics N.V. by 1,004.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,301,673 shares of the semiconductor producer’s stock worth $18,718,000 after buying an additional 1,183,788 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of 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 buying an additional 1,151,164 shares during the last quarter. Institutional investors own 5.35% of the company’s stock.
Shares of STMicroelectronics N.V. (NYSE STM) opened at 20.07 on Wednesday. The company has a market capitalization of $17.82 billion, a PE ratio of 41.04 and a beta of 0.70. The company has a 50 day moving average price of $18.98 and a 200 day moving average price of $16.75. STMicroelectronics N.V. has a 1-year low of $7.87 and a 1-year high of $20.19.
STMicroelectronics N.V. (NYSE:STM) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 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 firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the firm earned $0.03 EPS. The company’s revenue was up 12.9% on a year-over-year basis. Equities analysts predict that STMicroelectronics N.V. will post $0.82 EPS for the current fiscal year.
STMicroelectronics N.V. declared that its board has approved a stock repurchase program on Thursday, June 22nd that permits the company to buyback $297.00 million in shares. This buyback authorization permits the semiconductor producer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 26th. Shareholders of record on Tuesday, September 19th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.20%. The ex-dividend date was Monday, September 18th. STMicroelectronics N.V.’s dividend payout ratio (DPR) is presently 40.00%.
A number of research analysts recently weighed in on STM shares. Stifel Nicolaus raised STMicroelectronics N.V. from a “hold” rating to a “buy” rating and dropped their price target for the stock from $14.84 to $14.50 in a research note on Tuesday, June 27th. BidaskClub downgraded STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a research note 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 upgraded STMicroelectronics N.V. from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a research report on Saturday, July 29th. Finally, Craig Hallum restated a “buy” rating on shares of STMicroelectronics N.V. in a research report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. STMicroelectronics N.V. presently has an average rating of “Buy” and a consensus price target of $18.38.
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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