$2.93 Billion in Sales Expected for STMicroelectronics (NYSE:STM) This Quarter

Wall Street analysts expect STMicroelectronics (NYSE:STM) to post $2.93 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for STMicroelectronics’ earnings. STMicroelectronics reported sales of $2.23 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 31.4%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, April 29th.

On average, analysts expect that STMicroelectronics will report full year sales of $12.43 billion for the current year, with estimates ranging from $11.80 billion to $13.06 billion. For the next financial year, analysts forecast that the company will post sales of $13.08 billion, with estimates ranging from $12.49 billion to $13.67 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover STMicroelectronics.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, January 28th. The semiconductor producer reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.22 billion. STMicroelectronics had a net margin of 9.41% and a return on equity of 12.69%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS.

Several equities research analysts have issued reports on STM shares. Barclays reissued an “overweight” rating on shares of STMicroelectronics in a report on Friday, January 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of STMicroelectronics in a report on Friday, January 29th. Credit Suisse Group reaffirmed an “outperform” rating on shares of STMicroelectronics in a report on Wednesday, January 27th. Berenberg Bank raised shares of STMicroelectronics from a “sell” rating to a “hold” rating in a report on Thursday, February 25th. Finally, UBS Group lowered shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a report on Wednesday, January 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.50.

A number of large investors have recently modified their holdings of STM. Van ECK Associates Corp grew its holdings in STMicroelectronics by 30.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,561,282 shares of the semiconductor producer’s stock worth $78,606,000 after acquiring an additional 591,750 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in STMicroelectronics during the 4th quarter worth about $21,414,000. Amundi Pioneer Asset Management Inc. bought a new stake in STMicroelectronics during the 1st quarter worth about $7,630,000. Credit Suisse AG grew its holdings in STMicroelectronics by 509.0% during the 4th quarter. Credit Suisse AG now owns 428,736 shares of the semiconductor producer’s stock worth $15,915,000 after acquiring an additional 358,334 shares during the last quarter. Finally, Mondrian Capital Management LLC acquired a new position in STMicroelectronics during the 4th quarter valued at about $6,682,000. 3.56% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics stock traded up $0.82 on Friday, hitting $37.87. The company’s stock had a trading volume of 1,994,575 shares, compared to its average volume of 2,606,824. The firm has a market cap of $34.51 billion, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 5.14 and a beta of 1.52. The company has a quick ratio of 1.75, a current ratio of 2.37 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $37.56 and a 200-day moving average price of $37.51. STMicroelectronics has a one year low of $22.75 and a one year high of $43.02.

STMicroelectronics Company Profile

STMicroelectronics NV designs, develops, manufactures and markets products, which offers discrete and standard commodity components, application-specific integrated circuits, full custom devices and semi-custom devices for analog, digital and mixed-signal applications. It operates through the following segments: Automotive and Discrete Group, Analog and MEMS Group, and Microcontrollers and Digital ICs Group.

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