1 week Ago By ABMN Staff
STMicroelectronics ( NYSE:STM – Get Free Report ) hit a new 52-week low on Friday . The stock traded as low as $23.94 and last traded at $24.
03, with a volume of 868981 shares trading hands. The stock had previously closed at $24.30.
Wall Street Analyst Weigh In A number of analysts recently issued reports on the company. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th.
BNP Paribas assumed coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price target on the stock.
Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Robert W. Baird decreased their target price on shares of STMicroelectronics from $35.
00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th.
One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.
26. Read Our Latest Stock Analysis on STM STMicroelectronics Price Performance STMicroelectronics ( NYSE:STM – Get Free Report ) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.
37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04.
The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion.
STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%.
The company’s revenue was down 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.
16 earnings per share. As a group, sell-side analysts predict that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.
STMicroelectronics Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a $0.09 dividend.
The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.
47%. STMicroelectronics’s dividend payout ratio (DPR) is 14.81%.
Hedge Funds Weigh In On STMicroelectronics Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in STMicroelectronics by 49.4% in the second quarter.
Allspring Global Investments Holdings LLC now owns 3,908 shares of the semiconductor producer’s stock valued at $154,000 after purchasing an additional 1,293 shares during the last quarter. Rhumbline Advisers raised its holdings in STMicroelectronics by 6.9% during the 2nd quarter.
Rhumbline Advisers now owns 19,718 shares of the semiconductor producer’s stock valued at $775,000 after buying an additional 1,275 shares during the last quarter. Gallacher Capital Management LLC boosted its position in STMicroelectronics by 4.6% during the 2nd quarter.
Gallacher Capital Management LLC now owns 9,783 shares of the semiconductor producer’s stock valued at $384,000 after buying an additional 427 shares during the period. First Foundation Advisors bought a new stake in STMicroelectronics in the 2nd quarter worth $321,000. Finally, Choreo LLC purchased a new position in shares of STMicroelectronics in the second quarter valued at about $1,029,000.
Hedge funds and other institutional investors own 5.05% of the company’s stock. About STMicroelectronics ( Get Free Report ) 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.
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