Bullish Chart Formation for STMicroelectronics N.V. (STM) After Forming Double Top Chart Pattern

December 7, 2017 - By Marie Mckinney

The chart of STMicroelectronics N.V. (STM) shows a double top with $22.81 target or 7.00 % above today’s $21.32 share price. The 7 months chart pattern indicates low risk for the $18.80B company. It was reported on Dec, 8 by Finviz.com. If the $22.81 price target is reached, the company will be worth $1.32 billion more. Double tops are rare but powerful chart patterns.

The stock decreased 0.14% or $0.03 during the last trading session, reaching $21.32. About 3.87M shares traded. STMicroelectronics N.V. (NYSE:STM) has risen 191.28% since December 8, 2016 and is uptrending. It has outperformed by 174.58% the S&P500.

Analysts await STMicroelectronics N.V. (NYSE:STM) to report earnings on January, 25. They expect $0.33 earnings per share, up 106.25 % or $0.17 from last year’s $0.16 per share. STM’s profit will be $290.98M for 16.15 P/E if the $0.33 EPS becomes a reality. After $0.28 actual earnings per share reported by STMicroelectronics N.V. for the previous quarter, Wall Street now forecasts 17.86 % EPS growth.

STMicroelectronics N.V. (NYSE:STM) Ratings Coverage

Among 11 analysts covering STMicroelectronics (NYSE:STM), 6 have Buy rating, 2 Sell and 3 Hold. Therefore 55% are positive. STMicroelectronics had 21 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was maintained by Craig Hallum with “Buy” on Wednesday, September 13. Craig Hallum downgraded STMicroelectronics N.V. (NYSE:STM) on Friday, October 30 to “Hold” rating. The rating was downgraded by Morgan Stanley on Wednesday, January 4 to “Underweight”. The firm has “Buy” rating by Robert W. Baird given on Thursday, October 26. The rating was downgraded by Stifel Nicolaus to “Hold” on Monday, May 15. The stock of STMicroelectronics N.V. (NYSE:STM) earned “Buy” rating by Craig Hallum on Thursday, October 27. J.P. Morgan upgraded the shares of STM in report on Tuesday, July 11 to “Buy” rating. Natixis maintained it with “Buy” rating and $9.10 target in Monday, September 14 report. Citigroup downgraded the stock to “Neutral” rating in Wednesday, July 22 report. As per Tuesday, July 11, the company rating was upgraded by JP Morgan.

More notable recent STMicroelectronics N.V. (NYSE:STM) news were published by: Investorplace.com which released: “STMicroelectronics NV (ADR) (STM) Stock Is a Stealthy Giant” on April 07, 2017, also Investorplace.com with their article: “STMicroelectronics NV (ADR) (STM) Stock Evolves to IoT Play As Sector Expands” published on July 21, 2017, Benzinga.com published: “Jim Cramer Advises His Viewers On STMicroelectronics And Applied Materials” on August 09, 2017. More interesting news about STMicroelectronics N.V. (NYSE:STM) were released by: Investorplace.com and their article: “Make Way for STMicroelectronics NV (ADR) (STM) Stock” published on June 02, 2017 as well as Livetradingnews.com‘s news article titled: “STMicroelectronics NV (ADR) (NYSE:STM) Trading Outlook” with publication date: August 03, 2016.

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