STMicroelectronics (STM) Shares Gap Up to $26.20

STMicroelectronics NV (NYSE:STM)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $26.36, but opened at $26.20. STMicroelectronics shares last traded at $26.31, with a volume of 132734 shares changing hands.

Several equities analysts recently issued reports on the company. Stifel Nicolaus lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. ValuEngine upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Thursday, May 3rd. Zacks Investment Research lowered STMicroelectronics from a “hold” rating to a “sell” rating in a research note on Saturday, April 28th. Finally, Vetr lowered STMicroelectronics from a “buy” rating to a “hold” rating and set a $25.44 price target on the stock. in a research note on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.24.

The company has a quick ratio of 1.79, a current ratio of 2.47 and a debt-to-equity ratio of 0.28. The company has a market cap of $22.55 billion, a PE ratio of 26.74, a PEG ratio of 3.64 and a beta of 0.80.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Wednesday, April 25th. The semiconductor producer reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. STMicroelectronics had a return on equity of 19.45% and a net margin of 10.67%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the company posted $0.12 EPS. equities analysts forecast that STMicroelectronics NV will post 1.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 26th. Stockholders of record on Tuesday, June 19th will be paid a $0.06 dividend. The ex-dividend date is Monday, June 18th. This represents a $0.24 annualized dividend and a dividend yield of 0.92%. STMicroelectronics’s dividend payout ratio is currently 20.41%.

Several hedge funds have recently added to or reduced their stakes in STM. Oppenheimer & Co. Inc. grew its stake in shares of STMicroelectronics by 21.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 44,431 shares of the semiconductor producer’s stock valued at $970,000 after purchasing an additional 7,831 shares during the period. Cetera Advisors LLC boosted its holdings in shares of STMicroelectronics by 4.8% in the 4th quarter. Cetera Advisors LLC now owns 56,061 shares of the semiconductor producer’s stock worth $1,223,000 after acquiring an additional 2,577 shares in the last quarter. Cetera Advisor Networks LLC acquired a new position in shares of STMicroelectronics in the 4th quarter worth approximately $286,000. Wells Fargo & Company MN boosted its holdings in shares of STMicroelectronics by 1.7% in the 4th 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, DE Burlo Group Inc. acquired a new position in shares of STMicroelectronics in the 4th quarter worth approximately $6,584,000. Institutional investors own 4.08% of the company’s stock.

About STMicroelectronics

STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.

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