STMicroelectronics (STM) Shares Gap Down to $21.92
STMicroelectronics N.V. (NYSE:STM) gapped down before the market opened on Wednesday . The stock had previously closed at $22.58, but opened at $21.92. STMicroelectronics shares last traded at $21.35, with a volume of 6898837 shares traded.
STM has been the subject of a number of recent analyst reports. Craig Hallum increased their target price on shares of STMicroelectronics from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. ValuEngine cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $21.88.
The company has a quick ratio of 1.73, a current ratio of 2.29 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $19,942.45, a price-to-earnings ratio of 29.99, a P/E/G ratio of 4.76 and a beta of 0.78.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Tuesday, December 19th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, December 18th. STMicroelectronics’s dividend payout ratio (DPR) is presently 29.41%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of STMicroelectronics by 17.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,651 shares of the semiconductor producer’s stock valued at $111,224,000 after purchasing an additional 1,151,164 shares during the last quarter. Sensato Investors LLC boosted its stake in STMicroelectronics by 17.2% during the 2nd quarter. Sensato Investors LLC now owns 1,941,246 shares of the semiconductor producer’s stock worth $27,915,000 after acquiring an additional 285,200 shares during the last quarter. Quentec Asset Management LLC boosted its stake in STMicroelectronics by 121.7% during the 2nd quarter. Quentec Asset Management LLC now owns 1,835,373 shares of the semiconductor producer’s stock worth $26,393,000 after acquiring an additional 1,007,467 shares during the last quarter. Highbridge Capital Management LLC boosted its stake in STMicroelectronics by 154.0% during the 3rd quarter. Highbridge Capital Management LLC now owns 1,835,000 shares of the semiconductor producer’s stock worth $35,636,000 after acquiring an additional 1,112,500 shares during the last quarter. Finally, FMR LLC boosted its stake in STMicroelectronics by 2.4% during the 2nd quarter. FMR LLC now owns 1,452,766 shares of the semiconductor producer’s stock worth $20,890,000 after acquiring an additional 34,106 shares during the last quarter. 5.06% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “STMicroelectronics (STM) Shares Gap Down to $21.92” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/12/06/stmicroelectronics-stm-shares-gap-down-to-21-92.html.
STMicroelectronics Company Profile
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
Receive News & Stock Ratings for STMicroelectronics N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics N.V. and related stocks with our FREE daily email newsletter.