STMicroelectronics NV (NYSE:STM) was the recipient of a significant increase in short interest in the month of November. As of November 29th, there was short interest totalling 5,070,000 shares, an increase of 14.2% from the November 14th total of 4,440,000 shares. Based on an average trading volume of 2,020,000 shares, the short-interest ratio is presently 2.5 days. Currently, 0.6% of the shares of the company are sold short.
STM has been the topic of several research analyst reports. Cowen raised their price objective on STMicroelectronics from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Zacks Investment Research raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. STMicroelectronics has a consensus rating of “Buy” and an average target price of $19.02.
In related news, insider Ascough Graham 4,000,000 shares of the business’s stock in a transaction on Thursday, October 31st.
Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH lifted its position in STMicroelectronics by 11.9% during the second quarter. Allianz Asset Management GmbH now owns 249,755 shares of the semiconductor producer’s stock worth $4,401,000 after buying an additional 26,520 shares in the last quarter. BSW Wealth Partners purchased a new position in STMicroelectronics during the second quarter worth approximately $87,000. Janney Montgomery Scott LLC lifted its position in STMicroelectronics by 3.1% during the third quarter. Janney Montgomery Scott LLC now owns 36,280 shares of the semiconductor producer’s stock worth $702,000 after buying an additional 1,094 shares in the last quarter. Eqis Capital Management Inc. lifted its position in STMicroelectronics by 139.2% during the third quarter. Eqis Capital Management Inc. now owns 98,272 shares of the semiconductor producer’s stock worth $1,901,000 after buying an additional 57,180 shares in the last quarter. Finally, Breakline Capital LLC purchased a new position in STMicroelectronics during the second quarter worth approximately $4,405,000. Hedge funds and other institutional investors own 3.08% of the company’s stock.
Shares of STMicroelectronics stock opened at $27.15 on Friday. STMicroelectronics has a one year low of $12.00 and a one year high of $27.17. The company has a market cap of $22.75 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 4.69 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.04 and a current ratio of 2.87. The business’s 50 day moving average price is $24.02 and its 200 day moving average price is $19.58.
STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, October 24th. The semiconductor producer reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.05. STMicroelectronics had a return on equity of 16.11% and a net margin of 11.20%. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that STMicroelectronics will post 1.08 EPS for the current fiscal year.
STMicroelectronics Company Profile
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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