STMicroelectronics N.V. (STM) Reaches New 52-Week High at $17.62
STMicroelectronics N.V. (NYSE:STM) reached a new 52-week high on Tuesday . The company traded as high as $17.62 and last traded at $17.60, with a volume of 4,141,532 shares. The stock had previously closed at $17.47.
A number of research firms recently weighed in on STM. Zacks Investment Research downgraded shares of STMicroelectronics N.V. from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. BidaskClub downgraded shares of STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. J P Morgan Chase & Co raised shares of STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus downgraded shares of STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $18.38.
The company’s 50 day moving average is $16.96 and its 200 day moving average is $15.96. The stock has a market capitalization of $16.00 billion, a PE ratio of 36.85 and a beta of 0.64.
STMicroelectronics N.V. (NYSE:STM) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.01. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, analysts forecast that STMicroelectronics N.V. will post $0.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Tuesday, September 19th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.33%. STMicroelectronics N.V.’s dividend payout ratio is currently 40.00%.
STMicroelectronics N.V. announced that its board has authorized a stock repurchase plan on Thursday, June 22nd that authorizes the company to repurchase $297.00 million in shares. This repurchase authorization authorizes the semiconductor producer to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of STMicroelectronics N.V. by 114.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,808 shares of the semiconductor producer’s stock valued at $121,000 after acquiring an additional 4,175 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of STMicroelectronics N.V. by 5.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 9,105 shares of the semiconductor producer’s stock valued at $127,000 after acquiring an additional 433 shares in the last quarter. Financial Architects Inc increased its stake in shares of STMicroelectronics N.V. by 14.8% in the 2nd quarter. Financial Architects Inc now owns 9,141 shares of the semiconductor producer’s stock valued at $132,000 after acquiring an additional 1,181 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of STMicroelectronics N.V. in the 2nd quarter valued at $156,000. Finally, Atria Investments LLC bought a new stake in shares of STMicroelectronics N.V. in the 2nd quarter valued at $160,000. Institutional investors own 5.29% of the company’s stock.
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STMicroelectronics N.V. Company Profile
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal 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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