STMicroelectronics (NYSE:STM) Shares Down 2.2% – Here’s Why

by · The Markets Daily

Shares of STMicroelectronics N.V. (NYSE:STMGet Free Report) traded down 2.2% during trading on Tuesday . The stock traded as low as $67.73 and last traded at $73.3540. 24,081,094 shares were traded during trading, an increase of 138% from the average session volume of 10,110,138 shares. The stock had previously closed at $75.01.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley restated an “overweight” rating on shares of STMicroelectronics in a research report on Thursday, May 28th. Citigroup restated a “buy” rating on shares of STMicroelectronics in a research report on Sunday, April 26th. Craig Hallum upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research report on Friday, May 15th. Finally, TD Cowen restated a “hold” rating on shares of STMicroelectronics in a research report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.81.

Read Our Latest Stock Report on STM

STMicroelectronics Trading Down 2.2%

The company’s 50-day moving average price is $53.87 and its 200-day moving average price is $37.76. The firm has a market cap of $65.88 billion, a price-to-earnings ratio of 458.49 and a beta of 1.94. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STMGet Free Report) last announced its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share (EPS) for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. The business had revenue of $3.10 billion for the quarter. Equities analysts expect that STMicroelectronics N.V. will post 1.17 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be given a $0.09 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. STMicroelectronics’s dividend payout ratio (DPR) is 193.75%.

Institutional Trading of STMicroelectronics

Institutional investors have recently modified their holdings of the stock. Portus Wealth Advisors LLC acquired a new stake in shares of STMicroelectronics in the first quarter valued at about $32,000. CIBC Private Wealth Group LLC grew its position in shares of STMicroelectronics by 3,746.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock valued at $26,000 after purchasing an additional 974 shares during the period. Abound Wealth Management acquired a new position in STMicroelectronics during the fourth quarter worth about $26,000. Public Employees Retirement System of Ohio acquired a new position in STMicroelectronics during the first quarter worth about $45,000. Finally, Advisory Services Network LLC acquired a new position in STMicroelectronics during the third quarter worth about $52,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

About STMicroelectronics

(Get Free Report)

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.

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