3M (NYSE:MMM) issued its quarterly earnings data on Tuesday. The conglomerate reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23, RTT News reports. 3M had a net margin of 15.65% and a return on equity of 44.77%. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the previous year, the firm earned $2.15 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. 3M updated its FY 2021
Pre-Market guidance to 9.20-9.70 EPS and its FY21 guidance to $9.20-9.70 EPS.
Shares of NYSE:MMM opened at $173.25 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.37 and a debt-to-equity ratio of 1.54. 3M has a 12-month low of $114.04 and a 12-month high of $180.59. The business has a 50 day moving average of $171.66 and a two-hundred day moving average of $166.19. The company has a market capitalization of $99.93 billion, a PE ratio of 19.98, a PEG ratio of 1.85 and a beta of 0.92.
In other 3M news, EVP Khandpur K. Ashish sold 5,760 shares of the company’s stock in a transaction dated Thursday, December 17th. The shares were sold at an average price of $176.44, for a total value of $1,016,294.40. Following the completion of the transaction, the executive vice president now owns 21,719 shares in the company, valued at $3,832,100.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey R. Lavers sold 6,219 shares of the company’s stock in a transaction dated Tuesday, December 8th. The stock was sold at an average price of $172.09, for a total transaction of $1,070,227.71. Following the completion of the transaction, the executive vice president now owns 10,643 shares of the company’s stock, valued at approximately $1,831,553.87. The disclosure for this sale can be found here. Insiders have sold a total of 27,052 shares of company stock worth $4,688,423 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.
A number of research analysts have recently issued reports on MMM shares. Bank of America downgraded shares of 3M from a “neutral” rating to an “underperform” rating and set a $170.00 price objective on the stock. in a research report on Thursday, January 7th. TheStreet raised shares of 3M from a “c+” rating to a “b” rating in a report on Tuesday, October 27th. Royal Bank of Canada reissued a “hold” rating on shares of 3M in a report on Sunday. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating and set a $174.00 target price on the stock. in a research report on Tuesday, January 19th. Finally, JPMorgan Chase & Co. lifted their price target on 3M from $159.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $172.33.
3M Company Profile
3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.
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7 Semiconductor Stocks to Power Your Portfolio
Semiconductor stocks are thought of as cyclical stocks. However as technology continues to evolve, the cycles for semiconductors have become almost indiscernible. And for the last 18 months, semiconductor stocks have been some of the most volatile stocks.
But the iShares PHLX Semiconductor ETF (NASDAQ:SOXX) is up nearly 17% (16.8%) in 2020. That far outpaces the S&P 500. And this is on the heels of 2019 when the normally “boring” index surged over 60%.
What are the catalysts for semiconductor stocks? At this point, the better question may be what isn’t a catalyst for this group. The 5G buildout looks to finally be underway despite the pandemic. Data centers keep on growing, new gaming consoles will be out later this year, and work from anywhere will continue to be the reality for many Americans.
Each of these segments will define the semiconductor industry for at least the rest of this year. And are likely to continue to dominate our national conversation long after the pandemic is over.
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View the “7 Semiconductor Stocks to Power Your Portfolio”.
