STMicroelectronics (NYSE:STM - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $24.41, but opened at $25.66. STMicroelectronics shares last traded at $26.11, with a volume of 1,108,665 shares traded.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on STM. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of STMicroelectronics in a research note on Monday, December 9th. Robert W. Baird cut their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Citigroup raised shares of STMicroelectronics to a "strong-buy" rating in a report on Thursday, October 10th. Morgan Stanley cut shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a report on Monday, November 4th. Finally, BNP Paribas began coverage on STMicroelectronics in a report on Tuesday, December 3rd. They issued a "neutral" rating and a $28.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.26.
Check Out Our Latest Research Report on STMicroelectronics
STMicroelectronics Stock Performance
The firm has a fifty day moving average of $25.84 and a 200-day moving average of $30.22. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $23.67 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 3.20 and a beta of 1.52.
STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The business's revenue was down 26.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, sell-side analysts anticipate that STMicroelectronics will post 1.64 EPS for the current year.
STMicroelectronics Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.37%. STMicroelectronics's dividend payout ratio (DPR) is 14.81%.
Institutional Investors Weigh In On STMicroelectronics
A number of institutional investors and hedge funds have recently bought and sold shares of STM. Van ECK Associates Corp raised its position in shares of STMicroelectronics by 26.5% in the third quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer's stock valued at $228,655,000 after buying an additional 1,719,257 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in STMicroelectronics by 177.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer's stock valued at $90,806,000 after acquiring an additional 1,478,213 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of STMicroelectronics by 674.2% during the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer's stock worth $41,524,000 after purchasing an additional 1,216,300 shares during the period. Federated Hermes Inc. boosted its holdings in shares of STMicroelectronics by 128.1% during the second quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer's stock worth $25,469,000 after purchasing an additional 364,184 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of STMicroelectronics by 6.5% in the second quarter. American Century Companies Inc. now owns 469,669 shares of the semiconductor producer's stock valued at $18,449,000 after purchasing an additional 28,846 shares during the period. Hedge funds and other institutional investors own 5.05% of the company's stock.
About STMicroelectronics
(
Get Free Report)
STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.
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