STMicroelectronics NV (STM) Sees Large Volume Increase
Shares of STMicroelectronics NV (NYSE:STM) saw an uptick in trading volume on Wednesday . 4,270,408 shares traded hands during trading, an increase of 136% from the previous session’s volume of 1,807,809 shares.The stock last traded at $7.04 and had previously closed at $7.05.
A number of brokerages have commented on STM. 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, July 29th. Craig Hallum raised shares of STMicroelectronics NV from a “hold” rating to a “buy” rating in a research report on Wednesday, April 27th.
The company has a market cap of $6.24 billion and a P/E ratio of 84.17. The stock has a 50-day moving average price of $6.12 and a 200-day moving average price of $5.87.
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 analysts’ consensus estimates of $0.04 by $0.00. The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $1.76 million. During the same quarter last year, the firm earned $0.04 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts forecast that STMicroelectronics NV will post $0.20 earnings per share for the current fiscal year.
An institutional investor recently bought a new position 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 SEC. The institutional investor 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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