Is Buying Stock Like STMicroelectronics N.V. (STM) After This Multiple Top Chart Pattern a Winning Strategy?

May 17, 2018 - By Paul Bridgeforth

STMicroelectronics N.V. (NYSE:STM) Logo

The stock of STMicroelectronics N.V. (STM) shows a multiple tops pattern with $25.97 target or 9.00 % above today’s $23.83 share price. The 7 months chart pattern indicates low risk for the $21.48B company. It was reported on May, 17 by Finviz.com. If the $25.97 price target is reached, the company will be worth $1.93B more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 1.81% or $0.44 during the last trading session, reaching $23.83. About 4.11M shares traded or 31.00% up from the average. STMicroelectronics N.V. (NYSE:STM) has risen 45.26% since May 17, 2017 and is uptrending. It has outperformed by 33.71% the S&P500.

Analysts await STMicroelectronics N.V. (NYSE:STM) to report earnings on July, 25. They expect $0.30 earnings per share, up 76.47 % or $0.13 from last year’s $0.17 per share. STM’s profit will be $270.38M for 19.86 P/E if the $0.30 EPS becomes a reality. After $0.28 actual earnings per share reported by STMicroelectronics N.V. for the previous quarter, Wall Street now forecasts 7.14 % EPS growth.

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

Among 3 analysts covering Stmicroelectronics NV (NYSE:STM), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Stmicroelectronics NV had 3 analyst reports since January 11, 2018 according to SRatingsIntel. Credit Suisse upgraded the stock to “Buy” rating in Thursday, January 11 report. Craig Hallum maintained the stock with “Buy” rating in Thursday, January 25 report. Kepler Cheuvreux upgraded the stock to “Hold” rating in Friday, January 26 report.

Another recent and important STMicroelectronics N.V. (NYSE:STM) news was published by Seekingalpha.com which published an article titled: “STMicroelectronics +5% on Q1 results” on April 25, 2018.

STMicroelectronics N.V., together with its subsidiaries, designs, develops, makes, and markets semiconductor products, and subsystems and modules worldwide. The company has market cap of $21.48 billion. The firm offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom devices and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards. It has a 99.29 P/E ratio. It also provides subsystems and modules, including mobile phone accessories, battery chargers, and ISDN power supplies for the telecommunications, automotive, and industrial markets; and in-vehicle equipment for electronic toll payment.

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

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