STMicroelectronics NV (STM) Shares Gap Up to $6.12
STMicroelectronics NV (NYSE:STM)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $6.07, but opened at $6.12. STMicroelectronics NV shares last traded at $6.23, with a volume of 977,520 shares traded.
Several research firms have issued reports on STM. Zacks Investment Research upgraded STMicroelectronics NV from a “sell” rating to a “hold” rating in a research report on Saturday, April 30th. Craig Hallum raised STMicroelectronics NV from a “hold” rating to a “buy” rating in a research note on Wednesday, April 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $8.20.
The stock has a market cap of $5.48 billion and a price-to-earnings ratio of 64.33. The company has a 50 day moving average of $5.86 and a 200 day moving average of $5.82.
STMicroelectronics NV (NYSE:STM) last issued its earnings results on Wednesday, April 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.00 by $0.05. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business earned $0.01 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities research analysts expect that STMicroelectronics NV will post $0.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 28th. Shareholders of record on Tuesday, June 21st were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Friday, June 17th.
A hedge fund recently bought a new stake in STMicroelectronics NV stock. Sei Investments Co. bought a new position in shares of STMicroelectronics NV (NYSE:STM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 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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