The stock of STMicroelectronics NV (ADR) (NYSE:STM) gapped up by $0.04 today and has $11.90 target or 46.00% above today’s $8.15 share price. The 7 months technical chart setup indicates low risk for the $7.14 billion company. The gap was reported on Oct, 1 by Barchart.com. If the $11.90 price target is reached, the company will be worth $3.28 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 3.16% or $0.25 on September 30, hitting $8.15. About 2.34M shares traded hands or 2.18% up from the average. STMicroelectronics NV (ADR) (NYSE:STM) has risen 43.23% since February 29, 2016 and is uptrending. It has outperformed by 32.81% the S&P500.
Analysts await STMicroelectronics NV (ADR) (NYSE:STM) to report earnings on November, 3. They expect $0.09 EPS, down 25.00% or $0.03 from last year’s $0.12 per share. STM’s profit will be $78.85 million for 22.64 P/E if the $0.09 EPS becomes a reality. After $0.04 actual EPS reported by STMicroelectronics NV (ADR) for the previous quarter, Wall Street now forecasts 125.00% EPS growth.
STMicroelectronics NV (ADR) (NYSE:STM) Ratings Coverage
Out of 6 analysts covering STMicroelectronics (NYSE:STM), 1 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 17% are positive. STMicroelectronics has been the topic of 8 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Natixis maintained STMicroelectronics NV (ADR) (NYSE:STM) on Monday, September 14 with “Buy” rating. The firm has “Hold” rating by Craig Hallum given on Friday, October 30. As per Wednesday, August 5, the company rating was downgraded by Zacks. Bank of America downgraded the stock to “Underperform” rating in Friday, September 2 report. Kepler Cheuvreux upgraded the shares of STM in a report on Wednesday, January 27 to “Hold” rating. The stock of STMicroelectronics NV (ADR) (NYSE:STM) has “Neutral” rating given on Wednesday, July 22 by Citigroup. The stock of STMicroelectronics NV (ADR) (NYSE:STM) earned “Hold” rating by HSBC on Friday, July 24.
According to Zacks Investment Research, “STMicroelectronics is a global independent semiconductor company which designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems.”
Another recent and important STMicroelectronics NV (ADR) (NYSE:STM) news was published by Livetradingnews.com which published an article titled: “STMicroelectronics NV (ADR)(NYSE:STM) Bullish Trend” on September 07, 2016.
STM Company Profile
STMicroelectronics N.V., incorporated on May 21, 1987, is a global semiconductor company. The Firm is focused on Smart Driving, enabled by digitalization and electrification of the car, and the Internet of Things, including portable and wearable systems, as well as smart home, city and industry applications. The Company’s divisions include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others. The Firm designs, develops, makes and markets a range of semiconductor products, including discrete and standard commodity components, application-specific integrated circuits (ASICs), custom devices and semi-custom devices and application-specific standard products (ASSPs) for analog, digital and mixed-signal applications. The Firm participates in the manufacturing value chain of smartcard products, which include the production and sale of both silicon chips and smartcards.
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