STMicroelectronics NV (STM) Trading Down 3.3%
Shares of STMicroelectronics NV (NYSE:STM) fell 3.3% on Friday . The company traded as low as $7.24 and last traded at $7.29, with a volume of 1,599,500 shares. The stock had previously closed at $7.54.
A number of research firms recently weighed in on STM. Zacks Investment Research raised shares of STMicroelectronics NV from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Friday, July 29th. TheStreet raised shares of STMicroelectronics NV from a “hold” rating to a “buy” rating in a 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 report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $8.15.
The company has a market capitalization of $6.44 billion and a price-to-earnings ratio of 86.79. The company has a 50-day moving average price of $7.15 and a 200-day moving average price of $6.10.
STMicroelectronics NV (NYSE:STM) last released its earnings results on Wednesday, July 27th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.00. During the same quarter last year, the firm posted $0.04 EPS. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $1.76 million. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts expect that STMicroelectronics NV will post $0.20 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 27th. Stockholders of record on Tuesday, September 20th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Friday, September 16th.
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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