William Blair Analysts Decrease Earnings Estimates for STM

STMicroelectronics (NYSE:STM - Free Report) - Research analysts at William Blair lowered their FY2024 earnings per share estimates for shares of STMicroelectronics in a research note issued to investors on Monday, November 4th. William Blair analyst J. Dorsheimer now anticipates that the semiconductor producer will post earnings per share of $1.64 for the year, down from their previous estimate of $1.66. The consensus estimate for STMicroelectronics' current full-year earnings is $1.64 per share. William Blair also issued estimates for STMicroelectronics' Q4 2024 earnings at $0.35 EPS and Q3 2025 earnings at $0.39 EPS.

Other equities analysts have also recently issued reports about the company. Sanford C. Bernstein dropped their price objective on STMicroelectronics from $54.00 to $41.00 and set an "outperform" rating for the company in a report on Tuesday, July 30th. Robert W. Baird dropped their price target on STMicroelectronics from $35.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. Susquehanna reduced their price objective on shares of STMicroelectronics from $35.00 to $33.00 and set a "positive" rating on the stock in a research note on Friday, November 1st. Citigroup raised shares of STMicroelectronics to a "strong-buy" rating in a report on Thursday, October 10th. Finally, Morgan Stanley cut shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.63.

STMicroelectronics Stock Performance

Shares of STM traded down $0.20 during mid-day trading on Wednesday, hitting $26.49. 7,917,678 shares of the company's stock were exchanged, compared to its average volume of 3,980,153. 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 firm has a market cap of $23.93 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 3.16 and a beta of 1.57. The stock's 50-day simple moving average is $28.47 and its 200-day simple moving average is $35.14. STMicroelectronics has a 52 week low of $25.95 and a 52 week high of $51.27.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The company's revenue was down 26.6% on a year-over-year basis.

STMicroelectronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics's payout ratio is 12.76%.

Hedge Funds Weigh In On STMicroelectronics

A number of hedge funds have recently modified their holdings of STM. Van ECK Associates Corp grew its holdings in STMicroelectronics by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer's stock worth $228,655,000 after acquiring an additional 1,719,257 shares during the period. Dimensional Fund Advisors LP increased its holdings in STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer's stock worth $90,806,000 after purchasing an additional 1,478,213 shares in the last quarter. Lazard Asset Management LLC lifted its stake in STMicroelectronics by 1,564,831.9% in the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer's stock valued at $46,690,000 after buying an additional 1,079,734 shares during the period. Federated Hermes Inc. boosted its holdings in shares of STMicroelectronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer's stock worth $25,469,000 after buying an additional 364,184 shares in the last quarter. Finally, Delta Global Management LP boosted its holdings in shares of STMicroelectronics by 31.3% during the 1st quarter. Delta Global Management LP now owns 1,047,650 shares of the semiconductor producer's stock worth $45,300,000 after buying an additional 249,905 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.

About STMicroelectronics

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.