STMicroelectronics NV (NYSE:STM) shares gapped down before the market opened on Friday . The stock had previously closed at $7.15, but opened at $7.21. STMicroelectronics NV shares last traded at $7.30, with a volume of 1,521,198 shares changing hands.

Several research analysts have recently weighed in on STM shares. Craig Hallum raised shares of STMicroelectronics NV from a “hold” rating to a “buy” rating in a research report on Wednesday, April 27th. Zacks Investment Research raised shares of STMicroelectronics NV from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Friday.

The stock’s 50 day moving average is $5.99 and its 200 day moving average is $5.84. The company has a market cap of $6.43 billion and a PE ratio of 75.46.

STMicroelectronics NV (NYSE:STM) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.00. During the same period last year, the firm earned $0.04 EPS. The business earned $1.70 million during the quarter, compared to analysts’ expectations of $1.76 million. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts predict that STMicroelectronics NV will post $0.20 earnings per share for the current year.

A hedge fund recently bought a new stake in STMicroelectronics NV stock. Sei Investments Co. purchased a new position in shares of STMicroelectronics NV (NYSE:STM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 161,340 shares of the company’s stock, valued at approximately $1,074,000.

STMicroelectronics N.V. is a semiconductor company. The Company designs, develops, manufactures and markets a range of semiconductor products used in applications, such as Internet of Things (IoT), and serving many different end markets. The Company operates through two business segments: Sense & Power and Automotive Products (SP&A) and Embedded Processing Solutions (EPS).

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