STMicroelectronics NV (STM) Upgraded to Buy at Zacks Investment Research
STMicroelectronics NV (NYSE:STM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm currently has a $9.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 11.52% from the stock’s previous close.
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. “
Other equities research analysts also recently issued research reports about the company. TheStreet upgraded STMicroelectronics NV from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Bank of America Corp. downgraded STMicroelectronics NV from a “neutral” rating to an “underperform” rating in a research report on Friday, September 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $8.17.
Shares of STMicroelectronics NV (NYSE:STM) opened at 8.07 on Thursday. The company has a market cap of $7.13 billion, a P/E ratio of 96.07 and a beta of 0.93. The company’s 50-day moving average price is $7.76 and its 200-day moving average price is $6.44. STMicroelectronics NV has a 12 month low of $5.11 and a 12 month high of $8.21.
STMicroelectronics NV (NYSE:STM) last posted its earnings results on Wednesday, July 27th. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.00. STMicroelectronics NV had a net margin of 1.10% and a return on equity of 2.55%. The business earned $1.70 million during the quarter, compared to analysts’ expectations of $1.76 million. During the same quarter in the prior year, the firm earned $0.04 EPS. STMicroelectronics NV’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts forecast that STMicroelectronics NV will post $0.20 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, September 20th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 16th. This represents a $0.24 annualized dividend and a dividend yield of 2.97%. STMicroelectronics NV’s dividend payout ratio is presently 250.03%.
Large investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its stake in STMicroelectronics NV by 0.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,970 shares of the company’s stock valued at $106,000 after buying an additional 162 shares in the last quarter. Guggenheim Capital LLC increased its stake in STMicroelectronics NV by 0.5% in the second quarter. Guggenheim Capital LLC now owns 254,028 shares of the company’s stock valued at $1,496,000 after buying an additional 1,217 shares in the last quarter. Jefferies Group LLC increased its stake in STMicroelectronics NV by 8.0% in the second quarter. Jefferies Group LLC now owns 20,549 shares of the company’s stock valued at $121,000 after buying an additional 1,529 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in STMicroelectronics NV by 13.6% in the second quarter. Checchi Capital Advisers LLC now owns 19,213 shares of the company’s stock valued at $113,000 after buying an additional 2,302 shares in the last quarter. Finally, Highland Capital Management LLC increased its stake in STMicroelectronics NV by 1.1% in the second quarter. Highland Capital Management LLC now owns 220,097 shares of the company’s stock valued at $1,296,000 after buying an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 2.07% of the company’s stock.
STMicroelectronics NV Company Profile
STMicroelectronics N.V. is a global semiconductor company. The Company is focused on Smart Driving, enabled by digitalization and electrification of the car, and the Internet of Things, including portable and wearable systems, as well as smart home, city and industry 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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