Robert W. Baird Upgrades STMicroelectronics NV (STM) to “Outperform”
Robert W. Baird upgraded shares of STMicroelectronics NV (NYSE:STM) from a neutral rating to an outperform rating in a report issued on Monday. The firm currently has $11.00 price objective on the stock, up from their previous price objective of $7.00.
A number of other research analysts have also weighed in on STM. Zacks Investment Research lowered shares of STMicroelectronics NV from a hold rating to a sell rating in a research note on Thursday, June 30th. TheStreet raised shares of STMicroelectronics NV from a hold rating to a buy rating in a research report on Thursday, August 4th. Finally, Bank of America Corp. lowered shares of 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 four have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $8.88.
STMicroelectronics NV (NYSE:STM) opened at 7.91 on Monday. STMicroelectronics NV has a 52 week low of $5.11 and a 52 week high of $8.41. The company has a 50-day moving average of $7.84 and a 200-day moving average of $6.54. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 94.17 and a beta of 0.93.
STMicroelectronics NV (NYSE:STM) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.76 million. During the same period last year, the business posted $0.04 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that STMicroelectronics NV will post $0.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, September 20th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, September 16th. This represents a $0.24 dividend on an annualized basis and a yield of 3.03%. STMicroelectronics NV’s dividend payout ratio (DPR) is presently 250.03%.
Hedge funds have recently bought and sold shares of the company. Sensato Investors LLC increased its stake in STMicroelectronics NV by 62.7% in the first quarter. Sensato Investors LLC now owns 2,608,731 shares of the company’s stock worth $14,557,000 after buying an additional 1,005,411 shares during the period. Royal Bank of Canada increased its stake in STMicroelectronics NV by 178.1% in the first quarter. Royal Bank of Canada now owns 110,312 shares of the company’s stock worth $615,000 after buying an additional 70,648 shares during the period. BNP Paribas Arbitrage SA bought a new stake in STMicroelectronics NV during the second quarter worth about $206,000. 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 worth $1,296,000 after buying an additional 2,500 shares during the period. Finally, 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 worth $113,000 after buying an additional 2,302 shares during the period. Institutional investors and hedge funds own 2.07% of the company’s stock.
About STMicroelectronics NV
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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