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.
TRADEMARK VIOLATION WARNING: This report was originally published by BNB Daily and is the sole property of of BNB Daily. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.baseball-news-blog.com/2017/08/19/stmicroelectronics-n-v-nysestm-upgraded-by-zacks-investment-research-to-hold-updated-updated.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for STMicroelectronics N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics N.V. and related companies with MarketBeat.com's FREE daily email newsletter.