Stock Traders Buy High Volume of Call Options on STMicroelectronics (NYSE:STM)
by Michael Walen · The Markets DailySTMicroelectronics N.V. (NYSE:STM – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 32,659 call options on the company. This represents an increase of approximately 70% compared to the typical daily volume of 19,187 call options.
Institutional Investors Weigh In On STMicroelectronics
Several large investors have recently bought and sold shares of STM. Legacy Wealth Asset Management LLC grew its holdings in STMicroelectronics by 0.5% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 34,613 shares of the semiconductor producer’s stock valued at $2,592,000 after buying an additional 167 shares during the period. Eastern Bank raised its position in shares of STMicroelectronics by 2.9% in the 3rd quarter. Eastern Bank now owns 7,046 shares of the semiconductor producer’s stock worth $376,000 after buying an additional 196 shares during the period. GAMMA Investing LLC grew its position in STMicroelectronics by 8.2% during the third quarter. GAMMA Investing LLC now owns 4,559 shares of the semiconductor producer’s stock valued at $243,000 after acquiring an additional 346 shares during the period. Midwest Trust Co raised its holdings in shares of STMicroelectronics by 0.8% in the 1st quarter. Midwest Trust Co now owns 54,447 shares of the semiconductor producer’s stock worth $1,881,000 after purchasing an additional 406 shares during the period. Finally, Continuum Advisory LLC purchased a new stake in shares of STMicroelectronics during the 2nd quarter worth about $34,000. 5.05% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Barclays set a $60.00 price target on STMicroelectronics in a research note on Friday, July 24th. Wall Street Zen cut STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Mizuho dropped their price target on STMicroelectronics from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of STMicroelectronics in a research note on Tuesday, June 30th. Finally, Craig Hallum reiterated a “buy” rating and issued a $70.00 price objective on shares of STMicroelectronics in a report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and an average price target of $76.17.
Get Our Latest Analysis on STMicroelectronics
STMicroelectronics Stock Down 5.4%
NYSE:STM traded down $2.69 during trading hours on Wednesday, reaching $46.88. 5,536,409 shares of the company traded hands, compared to its average volume of 10,060,983. STMicroelectronics has a 1 year low of $21.11 and a 1 year high of $81.42. The stock has a market capitalization of $42.10 billion, a P/E ratio of 92.04 and a beta of 1.96. The business’s 50-day moving average price is $52.11 and its two-hundred day moving average price is $56.93. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.16.
STMicroelectronics (NYSE:STM – Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.46 billion. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. Analysts predict that STMicroelectronics will post 1.30 earnings per share for the current year.
STMicroelectronics Company Profile
STMicroelectronics N.V. (NYSE: STM) is a global semiconductor company that designs, develops, manufactures and markets a broad range of electronic components and solutions. Its products support applications in automotive, industrial, personal electronics, communications infrastructure and other technology markets.
The company’s portfolio includes microcontrollers, microprocessors, analog and mixed-signal integrated circuits, power semiconductors, sensors, MEMS devices, connectivity products and embedded-processing solutions.