STMicroelectronics Declares Quarterly Dividend of $0.06 (NYSE:STM)

STMicroelectronics (NYSE:STM) announced a quarterly dividend on Thursday, March 23rd, Wall Street Journal reports. Investors of record on Tuesday, September 19th will be paid a dividend of 0.06 per share by the semiconductor producer on Tuesday, September 26th. This represents a $0.24 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, September 18th.

STMicroelectronics has a dividend payout ratio of 5.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect STMicroelectronics to earn $4.07 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 5.9%.

STMicroelectronics Price Performance

Shares of NYSE:STM opened at $43.76 on Friday. The company’s fifty day moving average price is $48.64 and its 200 day moving average price is $47.76. STMicroelectronics has a 12 month low of $29.09 and a 12 month high of $55.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.67 and a quick ratio of 1.92. The firm has a market capitalization of $39.75 billion, a P/E ratio of 9.43, a P/E/G ratio of 2.08 and a beta of 1.63.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor producer reported $1.06 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.04). STMicroelectronics had a return on equity of 33.67% and a net margin of 25.36%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. STMicroelectronics’s revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts predict that STMicroelectronics will post 4.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on STM shares. TD Cowen lifted their price objective on shares of STMicroelectronics from $56.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. StockNews.com started coverage on shares of STMicroelectronics in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group upgraded shares of STMicroelectronics from an “underperform” rating to a “hold” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

Institutional Trading of STMicroelectronics

A number of institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC boosted its holdings in STMicroelectronics by 8.3% during the first quarter. Belpointe Asset Management LLC now owns 3,092 shares of the semiconductor producer’s stock worth $165,000 after buying an additional 238 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of STMicroelectronics by 3.0% in the second quarter. Captrust Financial Advisors now owns 8,191 shares of the semiconductor producer’s stock valued at $409,000 after purchasing an additional 238 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of STMicroelectronics by 1.4% in the first quarter. Commonwealth Equity Services LLC now owns 20,182 shares of the semiconductor producer’s stock valued at $1,079,000 after purchasing an additional 284 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of STMicroelectronics by 3.1% in the first quarter. Advisory Services Network LLC now owns 12,356 shares of the semiconductor producer’s stock valued at $661,000 after purchasing an additional 366 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in shares of STMicroelectronics by 1.1% in the fourth quarter. Penserra Capital Management LLC now owns 40,039 shares of the semiconductor producer’s stock valued at $1,424,000 after purchasing an additional 423 shares in the last quarter. Hedge funds and other institutional investors own 5.62% 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.