STMicroelectronics (NYSE:STM) Shares Gap Up to $39.98

STMicroelectronics (NYSE:STM) shares gapped up prior to trading on Wednesday . The stock had previously closed at $39.98, but opened at $42.33. STMicroelectronics shares last traded at $42.47, with a volume of 1,623,550 shares changing hands.

Analyst Upgrades and Downgrades

STM has been the topic of several analyst reports. Craig Hallum lowered their target price on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Susquehanna restated a “positive” rating and issued a $55.00 target price on shares of STMicroelectronics in a research report on Monday, April 8th. StockNews.com cut STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. HSBC initiated coverage on STMicroelectronics in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.75.

STMicroelectronics Trading Up 5.5 %

The firm has a market cap of $38.07 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 2.62 and a beta of 1.69. The company has a 50-day moving average price of $43.94 and a 200 day moving average price of $44.61. The company has a quick ratio of 2.44, a current ratio of 3.17 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 EPS for the quarter, topping the consensus estimate of $0.95 by $0.19. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.08 billion. STMicroelectronics had a return on equity of 27.70% and a net margin of 24.36%. STMicroelectronics’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 earnings per share. As a group, research analysts anticipate that STMicroelectronics will post 2.99 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Tuesday, June 25th. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s dividend payout ratio (DPR) is 4.48%.

Institutional Trading of STMicroelectronics

Institutional investors have recently bought and sold shares of the company. Thomas J. Herzfeld Advisors Inc. boosted its position in STMicroelectronics by 548.4% during the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock valued at $25,000 after purchasing an additional 499 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of STMicroelectronics in the first quarter worth about $28,000. Huntington National Bank lifted its position in shares of STMicroelectronics by 112.7% in the third quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock worth $30,000 after buying an additional 365 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of STMicroelectronics in the third quarter worth about $30,000. Finally, Spire Wealth Management lifted its position in shares of STMicroelectronics by 125.0% in the third quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock worth $31,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

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.