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STMicroelectronics N.V. (STM) 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.
It also provides subsystems, and assembly and other services. The company sells its products through its distributors and retailers, as well as through sales representatives.
Shares have formed a bullish "double bottom" following the company's quarterly report on July 25th. STM reported 2nd Quarter June 2019 earnings of $0.18 per share on revenue of $2.2 billion. The consensus earnings estimate was $0.20 per share on revenue of $2.1 billion. Revenue fell 4.2% compared to the same quarter a year ago.
The company said it expects third quarter revenue of $2.43 billion to $2.58 billion. The current consensus revenue estimate is $2.51 billion for the quarter ending September 30, 2019. The company also said it now expects 2019 revenue of $9.35 billion to $9.65 billion. The company's previous guidance was revenue of $9.45 billion to $9.85 billion and the current consensus estimate is revenue of $9.50 billion for the year ending December 31, 2019. Higher share prices are expected for this stock.
Entry Point: $19.20
Trading Range: $12.00 to $19.68
Stop Loss: $18.20
Target Price: $21.10
STM closed at $21.00
