STMicroelectronics N.V. (STM)’s Stock Is Buy After Forming Double Top Pattern

December 7, 2017 - By Michael Collier

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 EPS, up 106.25 % or $0.17 from last year’s $0.16 per share. STM’s profit will be $290.98 million for 16.15 P/E if the $0.33 EPS becomes a reality. After $0.28 actual EPS 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 firm earned “Buy” rating on Tuesday, June 27 by Stifel Nicolaus. The firm has “Neutral” rating given on Wednesday, July 22 by Citigroup. The stock of STMicroelectronics N.V. (NYSE:STM) earned “Buy” rating by J.P. Morgan on Tuesday, July 11. The rating was maintained by Craig Hallum with “Buy” on Friday, April 28. The stock of STMicroelectronics N.V. (NYSE:STM) has “Buy” rating given on Thursday, October 26 by Craig Hallum. The rating was downgraded by Craig Hallum on Friday, October 30 to “Hold”. The firm earned “Underweight” rating on Wednesday, January 4 by Morgan Stanley. On Wednesday, January 27 the stock rating was upgraded by Kepler Cheuvreux to “Hold”. Zacks downgraded the stock to “Hold” rating in Wednesday, August 5 report. The stock has “Overweight” rating by JP Morgan on Tuesday, July 11.

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

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