STMicroelectronics (NYSE:STM) Shares Down 1.1% – What’s Next?

STMicroelectronics N.V. (NYSE:STM)’s stock price dropped 1.1% during mid-day trading on Friday . The company traded as low as $76.31 and last traded at $77.2940. Approximately 11,251,635 shares traded hands during trading, an increase of 10% from the average daily volume of 10,252,589 shares. The stock had previously closed at $78.12.

Wall Street Analysts Forecast Growth

STM has been the topic of several analyst reports. Susquehanna increased their target price on STMicroelectronics from $35.00 to $40.00 and gave the stock a “positive” rating in a research report on Monday, February 23rd. Bank of America upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday. Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a research report on Sunday, April 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research report on Thursday. Finally, Mizuho raised their price target on shares of STMicroelectronics from $68.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.39.

STMicroelectronics Trading Down 1.1%

The stock has a market capitalization of $69.42 billion, a P/E ratio of 483.12 and a beta of 1.94. The business has a 50 day simple moving average of $56.34 and a 200-day simple moving average of $38.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.34 and a current ratio of 3.31.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%.The company had revenue of $3.10 billion for the quarter. On average, analysts predict that STMicroelectronics N.V. will post 1.17 EPS for the current year.

STMicroelectronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $0.36 annualized dividend and a yield of 0.5%. STMicroelectronics’s dividend payout ratio is currently 193.75%.

Institutional Investors Weigh In On STMicroelectronics

Institutional investors and hedge funds have recently modified their holdings of the stock. Portus Wealth Advisors LLC bought a new stake in shares of STMicroelectronics during the 1st quarter worth $32,000. CIBC Private Wealth Group LLC increased its stake in STMicroelectronics by 3,746.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock worth $26,000 after purchasing an additional 974 shares in the last quarter. Abound Wealth Management acquired a new stake in STMicroelectronics during the 4th quarter worth about $26,000. Public Employees Retirement System of Ohio purchased a new stake in STMicroelectronics during the first quarter valued at about $45,000. Finally, Advisory Services Network LLC purchased a new stake in STMicroelectronics during the third quarter valued at about $52,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

About STMicroelectronics

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.