STMicroelectronics (NYSE:STM) Shares Gap Up to $27.82

STMicroelectronics (NYSE:STM)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $27.82, but opened at $28.59. STMicroelectronics shares last traded at $28.43, with a volume of 349,518 shares changing hands.

Analysts Set New Price Targets

STM has been the subject of a number of analyst reports. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley cut shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. TD Cowen dropped their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Craig Hallum reduced their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group upgraded shares of 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 note on Tuesday, June 18th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.13.

STMicroelectronics Trading Down 0.9 %

The stock has a market cap of $25.27 billion, a P/E ratio of 7.17, a price-to-earnings-growth ratio of 3.36 and a beta of 1.58. The stock’s 50-day moving average is $32.81 and its two-hundred day moving average is $38.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56.

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

STMicroelectronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 annualized dividend and a yield of 1.29%. STMicroelectronics’s payout ratio is presently 7.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of STMicroelectronics by 11.6% in the second quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer’s stock valued at $254,388,000 after acquiring an additional 675,353 shares during the period. Capital International Investors raised its holdings in shares of STMicroelectronics by 2.4% in the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock worth $135,467,000 after buying an additional 74,519 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of STMicroelectronics by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after buying an additional 120,399 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of STMicroelectronics by 177.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after acquiring an additional 1,478,213 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in STMicroelectronics by 8.7% during the 4th quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock valued at $80,991,000 after acquiring an additional 129,772 shares during the period. 5.05% of the stock is owned by hedge funds and other institutional investors.

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.