STMicroelectronics NV Rating Increased to Hold at HSBC (STM)
STMicroelectronics NV (NYSE:STM) was upgraded by research analysts at HSBC from a “reduce” rating to a “hold” rating in a report released on Friday, TheFlyOnTheWall.com reports.
Shares of STMicroelectronics NV (NYSE:STM) traded down 2.75% during mid-day trading on Friday, hitting $7.77. The stock had a trading volume of 2,367,798 shares. STMicroelectronics NV has a 52 week low of $6.27 and a 52 week high of $9.98. The stock’s 50-day moving average is $8.09 and its 200-day moving average is $8.57. The company has a market cap of $6.83 billion and a P/E ratio of 65.85.
STMicroelectronics NV (NYSE:STM) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.02. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis. Analysts expect that STMicroelectronics NV will post $0.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Friday, September 18th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. downgraded shares of STMicroelectronics NV from a “buy” rating to a “neutral” rating in a research note on Wednesday. Analysts at Zacks downgraded shares of STMicroelectronics NV from a “hold” rating to a “sell” rating in a research note on Tuesday, July 21st. Analysts at JPMorgan Chase & Co. downgraded shares of STMicroelectronics NV from a “neutral” rating to an “underweight” rating in a research note on Monday, July 13th. Analysts at Barclays upgraded shares of STMicroelectronics NV from an “underweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Finally, analysts at Banca Akros upgraded shares of STMicroelectronics NV from a “reduce” rating to an “accumulate” rating in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.69.
STMicroelectronics N.V. is a semiconductor company. The Company designs, develops, manufactures and markets a range of semiconductor products used in a variety of applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems. Its product segments include sense and power and automotive products (NYSE:STM) and embedded processing solutions (EPS). Its major customers include Apple, Blackberry, Bosch, Cisco, Conti, Hewlett-Packard, Nokia, Oberthur, Samsung, and Western Digital. It also sells its products through distributors and retailers, including Arrow Electronics, Avnet, Wintech and Yosun.