STMicroelectronics (NYSE:STM) Shares Gap Down to $28.59

STMicroelectronics (NYSE:STM)’s share price gapped down prior to trading on Monday . The stock had previously closed at $28.59, but opened at $27.92. STMicroelectronics shares last traded at $27.70, with a volume of 487,483 shares changing hands.

Wall Street Analyst Weigh In

STM has been the topic of a number of research reports. Craig Hallum decreased their price target on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their target price for the company from $35.50 to $45.80 in a research report on Tuesday, June 18th. Sanford C. Bernstein reduced their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Finally, TD Cowen dropped their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, STMicroelectronics presently has a consensus rating of “Moderate Buy” and an average price target of $43.13.

STMicroelectronics Stock Performance

The stock has a 50-day moving average price of $33.08 and a 200 day moving average price of $39.12. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $25.60 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 3.36 and a beta of 1.58.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the business posted $1.06 EPS. The firm’s revenue was down 25.3% on a year-over-year basis. On average, analysts forecast that STMicroelectronics will post 1.66 EPS for the current year.

STMicroelectronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is presently 7.69%.

Institutional Trading of STMicroelectronics

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in shares of STMicroelectronics by 16.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock worth $38,572,000 after acquiring an additional 109,477 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of STMicroelectronics by 374.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock worth $1,644,000 after buying an additional 29,999 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of STMicroelectronics by 153.8% in the 1st quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after buying an additional 108,152 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of STMicroelectronics by 5.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock valued at $118,772,000 after buying an additional 120,399 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of STMicroelectronics in the 1st quarter valued at $554,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

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.