In today’s recent session, 0.91 million shares of the STMicroelectronics N.V. (NYSE:STM) have been traded, and its beta is 1.57. Most recently the company’s share price was $42.53, and it changed around -$1.8 or -4.07% from the last close, which brings the market valuation of the company to $40.00B. STM at last check was trading at a discount to its 52-week high of $53.53, offering almost -25.86% off that amount. The share price’s 52-week low was $28.35, which indicates that the recent value has risen by an impressive 33.34% since then. We note from STMicroelectronics N.V.’s average daily trading volume that its 10-day average is 3.01 million shares, with the 3-month average coming to 3.58 million.
STMicroelectronics N.V. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.40. If we narrow it down even further, the data shows that 3 out of 27 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 8 recommended STM as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. STMicroelectronics N.V. is expected to report earnings per share of $1.08 for the current quarter.
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STMicroelectronics N.V. (NYSE:STM) trade information
Instantly STM has been showing red trend so far today with a performance of -4.07% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 45.47 on Tuesday, 05/23/23 increased the stock’s daily price by 6.47%. The company’s shares are currently up 19.55% year-to-date, but still down -2.33% over the last five days. On the other hand, STMicroelectronics N.V. (NYSE:STM) is -5.79% down in the 30-day period. We can see from the shorts that 8.52 million shares have been sold at a short interest cover period of 2.25 day(s).
The consensus price target as assigned by Wall Street analysts is $57.60, which translates to bulls needing to increase their stock price by 26.16% from its current value. Analyst projections state that STM is forecast to be at a low of $35.23 and a high of $80.35. In order for the stock price to hit the forecast high, the stock would need to plunge -88.93% from its current level, while the stock would need to crash 17.16% from its current level to reach the projected low.
STMicroelectronics N.V. (STM) estimates and forecasts
STMicroelectronics N.V. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 12.77 percent over the past six months and at a 1.43% annual growth rate that is well above the industry average of 1.10%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 17.40% in revenue this quarter, and will report a decrease of -12.10% in the next quarter. The year-over-year growth rate is expected to be 7.30%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $4.27 billion in revenue for the current quarter. 8 analysts expect STMicroelectronics N.V. to make $4.35 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $3.84 billion and $4.32 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 11.30%. Forecasts for the next quarter put sales growth at 0.70%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 38.10%. STMicroelectronics N.V. earnings are expected to increase by 93.50% in 2023, but the outlook is positive 5.00% per year for the next five years.
STMicroelectronics N.V.’s next quarterly earnings report is expected to be released around November 28 and November 29. The annual dividend yield of the stock is 0.54 percent and its annual dividend per share was 0.24. It is important to note, however, that the 0.54% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
STMicroelectronics N.V. (NYSE:STM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.00% of STMicroelectronics N.V. shares, and 5.02% of them are in the hands of institutional investors. The stock currently has a share float of 5.02%. STMicroelectronics N.V. stock is held by 390 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Mar 30, 2023, it held 0.43% of the shares, which is about 3.89 million shares worth $207.82 million.
Blackrock Inc., with 0.35% or 3.14 million shares worth $168.14 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
iShares Core MSCI EAFE ETF and VanEck ETF Trust-VanEck Semiconductor ETF were the top two Mutual Funds as of Feb 27, 2023. The former held 3.64 million shares worth $175.37 million, making up 0.40% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Semiconductor ETF held roughly 3.64 million shares worth around $194.86 million, which represents about 0.40% of the total shares outstanding.