STMicroelectronics (STM) Shares Gap Down to $22.13

STMicroelectronics NV (NYSE:STM) gapped down before the market opened on Thursday . The stock had previously closed at $21.86, but opened at $22.13. STMicroelectronics shares last traded at $21.28, with a volume of 4874827 shares trading hands.

STM has been the topic of a number of recent analyst reports. Craig Hallum lifted their price objective on shares of STMicroelectronics from $21.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. ValuEngine upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research cut shares of STMicroelectronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Societe Generale initiated coverage on shares of STMicroelectronics in a research note on Wednesday, January 17th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.85.

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.52 and a quick ratio of 1.86. The stock has a market cap of $19,580.00, a PE ratio of 24.10, a P/E/G ratio of 3.16 and a beta of 0.71.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, January 25th. The semiconductor producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. STMicroelectronics had a net margin of 9.62% and a return on equity of 17.55%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the business earned $0.13 earnings per share. STMicroelectronics’s revenue for the quarter was up 32.7% compared to the same quarter last year. analysts expect that STMicroelectronics NV will post 1.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 20th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Monday, March 19th. STMicroelectronics’s dividend payout ratio (DPR) is presently 22.73%.

A number of institutional investors have recently modified their holdings of the business. Baird Financial Group Inc. bought a new stake in STMicroelectronics in the fourth quarter worth about $257,000. Bank of New York Mellon Corp bought a new stake in STMicroelectronics in the fourth quarter worth about $379,000. DE Burlo Group Inc. bought a new stake in STMicroelectronics in the fourth quarter worth about $6,584,000. Wells Fargo & Company MN raised its position in STMicroelectronics by 1.7% in the fourth quarter. Wells Fargo & Company MN now owns 337,733 shares of the semiconductor producer’s stock worth $7,377,000 after acquiring an additional 5,752 shares in the last quarter. Finally, Cetera Advisor Networks LLC bought a new stake in STMicroelectronics in the fourth quarter worth about $286,000. Hedge funds and other institutional investors own 4.99% of the company’s stock.

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STMicroelectronics Company Profile

STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.

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