STMicroelectronics (NYSE:STM) Shares Gap Down to $42.04

STMicroelectronics (NYSE:STM)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $42.04, but opened at $40.56. STMicroelectronics shares last traded at $40.86, with a volume of 406,240 shares traded.

Analysts Set New Price Targets

STM has been the topic of a number of research analyst reports. Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Craig Hallum lowered their target price on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Susquehanna restated a “positive” rating and set a $55.00 price objective on shares of STMicroelectronics in a research report on Monday, April 8th. Finally, HSBC started coverage on shares of STMicroelectronics in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.75.

STMicroelectronics Trading Up 3.3 %

The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.17. The stock has a market cap of $38.19 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 3.85 and a beta of 1.66. The company has a fifty day simple moving average of $41.81 and a 200-day simple moving average of $44.56.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The firm’s revenue was down 18.4% compared to the same quarter last year. On average, research analysts forecast that STMicroelectronics will post 2.13 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, June 25th. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s dividend payout ratio (DPR) is 5.13%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Thomas J. Herzfeld Advisors Inc. increased its holdings in shares of STMicroelectronics by 548.4% in the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock valued at $25,000 after purchasing an additional 499 shares during the period. Mather Group LLC. acquired a new position in STMicroelectronics in the 1st quarter valued at approximately $28,000. Huntington National Bank lifted its position in STMicroelectronics by 112.7% in the 3rd quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock worth $30,000 after buying an additional 365 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of STMicroelectronics during the 3rd quarter valued at $30,000. Finally, Spire Wealth Management grew its holdings in shares of STMicroelectronics by 125.0% during the 3rd quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock valued at $31,000 after acquiring an additional 400 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Company Profile

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.