STMicroelectronics (NYSE:STM) Shares Gap Up to $17.12

STMicroelectronics NV (NYSE:STM)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $16.85, but opened at $17.12. STMicroelectronics shares last traded at $17.46, with a volume of 90,929 shares changing hands.

STM has been the subject of a number of research reports. Bank of America raised shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $14.92 price target for the company in a report on Friday, May 31st. Craig Hallum reissued a “buy” rating and issued a $22.00 price target (up from $20.00) on shares of STMicroelectronics in a report on Wednesday, April 24th. Morgan Stanley initiated coverage on shares of STMicroelectronics in a report on Wednesday, June 19th. They issued an “overweight” rating and a $16.11 price target for the company. ValuEngine downgraded shares of STMicroelectronics from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Finally, Deutsche Bank reissued a “buy” rating and issued a $20.00 price target on shares of STMicroelectronics in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. STMicroelectronics currently has an average rating of “Buy” and an average price target of $17.68.

The firm has a market cap of $15.70 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 3.31 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.06 and a current ratio of 2.91. The company’s 50 day simple moving average is $16.24.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor producer reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). STMicroelectronics had a net margin of 12.89% and a return on equity of 19.85%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the company posted $0.28 EPS. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts forecast that STMicroelectronics NV will post 1.06 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in STM. Penserra Capital Management LLC increased its position in shares of STMicroelectronics by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 3,327 shares of the semiconductor producer’s stock worth $49,000 after purchasing an additional 1,109 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new stake in shares of STMicroelectronics during the 1st quarter worth about $81,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in shares of STMicroelectronics during the 4th quarter worth about $99,000. Cetera Investment Advisers acquired a new stake in shares of STMicroelectronics during the 4th quarter worth about $152,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of STMicroelectronics during the 1st quarter worth about $176,000. Institutional investors own 3.40% of the company’s stock.

STMicroelectronics Company Profile (NYSE:STM)

STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.

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