Trading Report: The STMicroelectronics NV (STM) Rating Increased to Outperform at Robert W. Baird

The STMicroelectronics NV (STM) Rating Increased to Outperform at Robert W. Baird

STMicroelectronics NV (NYSE:STM) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Monday. The brokerage currently has a $11.00 price objective on the stock, up from their previous price objective of $7.00. Robert W. Baird’s price objective indicates a potential upside of 36.65% from the stock’s previous close.

Several other brokerages also recently commented on STM. Zacks Investment Research upgraded shares of STMicroelectronics NV from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Bank of America Corp. downgraded shares of STMicroelectronics NV from a “neutral” rating to an “underperform” rating in a report on Friday, September 2nd. Finally, TheStreet upgraded shares of STMicroelectronics NV from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $8.88.

Shares of STMicroelectronics NV (NYSE:STM) opened at 8.05 on Monday. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 95.83 and a beta of 0.93. STMicroelectronics NV has a 52 week low of $5.11 and a 52 week high of $8.41. The firm has a 50 day moving average of $7.83 and a 200 day moving average of $6.52.

STMicroelectronics NV (NYSE:STM) last announced its earnings results on Wednesday, July 27th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.04 by $0.00. The firm earned $1.70 million during the quarter, compared to the consensus estimate of $1.76 million. STMicroelectronics NV had a return on equity of 2.55% and a net margin of 1.10%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. Equities analysts predict that STMicroelectronics NV will post $0.20 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 27th. Shareholders of record on Tuesday, September 20th were given a $0.06 dividend. The ex-dividend date was Friday, September 16th. This represents a $0.24 annualized dividend and a yield of 2.98%. STMicroelectronics NV’s dividend payout ratio is 250.03%.

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in shares of STMicroelectronics NV by 178.1% in the first quarter. Royal Bank of Canada now owns 110,312 shares of the company’s stock valued at $615,000 after buying an additional 70,648 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in shares of STMicroelectronics NV during the second quarter valued at $206,000. First Trust Advisors LP raised its stake in shares of STMicroelectronics NV by 44.6% in the second quarter. First Trust Advisors LP now owns 123,756 shares of the company’s stock valued at $729,000 after buying an additional 38,170 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of STMicroelectronics NV by 13.6% in the second quarter. Checchi Capital Advisers LLC now owns 19,213 shares of the company’s stock valued at $113,000 after buying an additional 2,302 shares during the period. Finally, Sensato Investors LLC raised its stake in shares of STMicroelectronics NV by 62.7% in the first quarter. Sensato Investors LLC now owns 2,608,731 shares of the company’s stock valued at $14,557,000 after buying an additional 1,005,411 shares during the period. Institutional investors and hedge funds own 2.07% of the company’s stock.

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