STMicroelectronics (NYSE:STM) Issues Quarterly Earnings Results, Misses Estimates By $0.05 EPS

STMicroelectronics (NYSE:STM) posted its quarterly earnings data on Thursday. The semiconductor producer reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05), Briefing.com reports. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.61 billion. STMicroelectronics had a return on equity of 23.52% and a net margin of 22.30%. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. STMicroelectronics updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

STMicroelectronics Price Performance

STM stock opened at $41.34 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.17 and a quick ratio of 2.44. STMicroelectronics has a 1 year low of $37.21 and a 1 year high of $55.85. The business has a 50 day simple moving average of $43.75 and a 200-day simple moving average of $44.56. The firm has a market capitalization of $37.32 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.69.

STMicroelectronics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, June 25th. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. STMicroelectronics’s payout ratio is currently 5.13%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on STM shares. Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Friday. Craig Hallum dropped their price target on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Susquehanna reiterated a “positive” rating and issued a $55.00 price objective on shares of STMicroelectronics in a research report on Monday, April 8th. Finally, William Blair restated a “market perform” rating on shares of STMicroelectronics in a research report on Friday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.75.

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.