STMicroelectronics N.V. (NYSE:STM) Stock Rating Upgraded by Zacks Investment Research

STMicroelectronics N.V. (NYSE:STM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday, July 29th. The firm currently has a $19.00 target price on the semiconductor producer’s stock. Zacks Investment Research‘s target price suggests a potential upside of 14.53% from the stock’s current price.

According to Zacks, “STMicroelectronics is a global independent semiconductor company which designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. “

STM has been the topic of several other research reports. Stifel Nicolaus downgraded STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. BidaskClub upgraded STMicroelectronics N.V. from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Craig Hallum reiterated a “buy” rating and set a $20.00 target price on shares of STMicroelectronics N.V. in a report on Thursday, April 27th. J P Morgan Chase & Co upgraded STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 11th. Finally, Robert W. Baird increased their target price on STMicroelectronics N.V. from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $18.38.

STMicroelectronics N.V. (NYSE STM) opened at 16.59 on Friday. The stock has a market cap of $14.73 billion, a P/E ratio of 33.93 and a beta of 0.66. The firm has a 50-day moving average price of $16.30 and a 200-day moving average price of $15.65. STMicroelectronics N.V. has a 52 week low of $7.24 and a 52 week high of $17.46.

STMicroelectronics N.V. (NYSE:STM) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. On average, equities research analysts predict that STMicroelectronics N.V. will post $0.82 EPS for the current year.

STMicroelectronics N.V. declared that its Board of Directors has authorized a stock buyback 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 board of directors believes its shares are undervalued.

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Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in shares of STMicroelectronics N.V. by 362.4% in the first quarter. Renaissance Technologies LLC now owns 5,299,919 shares of the semiconductor producer’s stock valued at $81,713,000 after buying an additional 4,153,795 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of STMicroelectronics N.V. by 629.6% in the first quarter. Acadian Asset Management LLC now owns 3,807,959 shares of the semiconductor producer’s stock valued at $58,870,000 after buying an additional 3,286,041 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of STMicroelectronics N.V. during the first quarter valued at $23,004,000. FMR LLC bought a new position in shares of STMicroelectronics N.V. during the first quarter valued at $21,932,000. Finally, JPMorgan Chase & Co. boosted its position in shares of STMicroelectronics N.V. by 1,004.2% in the second quarter. JPMorgan Chase & Co. now owns 1,301,673 shares of the semiconductor producer’s stock valued at $18,718,000 after buying an additional 1,183,788 shares during the last quarter. Institutional investors own 5.03% of the company’s stock.

About STMicroelectronics N.V.

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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