STMicroelectronics Target of Unusually Large Options Trading (STM)

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STMicroelectronics NV (NYSE:STM) was the recipient of some unusual options trading activity on Wednesday. Investors bought 3,609 put options on the stock. This represents an increase of 1,123% compared to the typical daily volume of 295 put options.

STM has been the topic of several recent analyst reports. Craig Hallum decreased their price objective on shares of STMicroelectronics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, June 27th. Stifel Nicolaus downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Finally, ValuEngine downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, June 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $26.15.

Hedge funds and other institutional investors have recently made changes to their positions in the business. PointState Capital LP purchased a new position in shares of STMicroelectronics in the 2nd quarter worth $73,538,000. Renaissance Technologies LLC grew its stake in shares of STMicroelectronics by 177.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,873,245 shares of the semiconductor producer’s stock worth $64,027,000 after buying an additional 1,837,921 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of STMicroelectronics by 6,533.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,246,613 shares of the semiconductor producer’s stock worth $27,575,000 after buying an additional 1,227,821 shares in the last quarter. Capital Fund Management S.A. grew its stake in shares of STMicroelectronics by 21.2% in the 2nd quarter. Capital Fund Management S.A. now owns 998,945 shares of the semiconductor producer’s stock worth $22,097,000 after buying an additional 174,826 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of STMicroelectronics by 14.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,335,623 shares of the semiconductor producer’s stock worth $29,771,000 after buying an additional 165,520 shares in the last quarter. Institutional investors own 4.22% of the company’s stock.

Shares of NYSE STM opened at $18.83 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.65 and a current ratio of 2.36. The firm has a market capitalization of $18.55 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 2.96 and a beta of 0.76. STMicroelectronics has a 52-week low of $18.24 and a 52-week high of $26.43.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Wednesday, July 25th. The semiconductor producer reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. STMicroelectronics had a net margin of 11.48% and a return on equity of 20.69%. The business’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. equities analysts forecast that STMicroelectronics will post 1.4 earnings per share for the current year.

About STMicroelectronics

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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