STMicroelectronics (NYSE:STM) Trading Down 9.8% – Time to Sell?

STMicroelectronics N.V. (NYSE:STM)’s share price fell 9.8% during mid-day trading on Friday . The stock traded as low as $69.42 and last traded at $70.6870. 19,924,392 shares were traded during mid-day trading, an increase of 100% from the average session volume of 9,946,396 shares. The stock had previously closed at $78.36.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Susquehanna upped their price target on shares of STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a report on Monday, February 23rd. Mizuho raised their price objective on shares of STMicroelectronics from $68.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday. Robert W. Baird set a $90.00 target price on STMicroelectronics in a research note on Friday, April 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of STMicroelectronics in a research note on Thursday, May 28th. Finally, Weiss Ratings raised STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, STMicroelectronics presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.81.

STMicroelectronics Stock Down 9.8%

The company’s 50 day moving average is $53.03 and its 200 day moving average is $37.29. The company has a market cap of $63.49 billion, a PE ratio of 441.82 and a beta of 1.94. The company has a current ratio of 3.31, a quick ratio of 2.34 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last issued its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. The business had revenue of $3.10 billion for the quarter. As a group, analysts predict that STMicroelectronics N.V. will post 1.17 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

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

Hedge Funds Weigh In On STMicroelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Midwest Trust Co raised its holdings in shares of STMicroelectronics by 0.8% in the first quarter. Midwest Trust Co now owns 54,447 shares of the semiconductor producer’s stock valued at $1,881,000 after acquiring an additional 406 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in STMicroelectronics by 5.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,062 shares of the semiconductor producer’s stock worth $348,000 after acquiring an additional 479 shares in the last quarter. Inspire Investing LLC increased its position in STMicroelectronics by 5.0% during the 1st quarter. Inspire Investing LLC now owns 10,261 shares of the semiconductor producer’s stock valued at $355,000 after purchasing an additional 488 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of STMicroelectronics by 13.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,405 shares of the semiconductor producer’s stock valued at $115,000 after purchasing an additional 509 shares in the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of STMicroelectronics by 3.2% in the 4th quarter. Earnest Partners LLC now owns 17,282 shares of the semiconductor producer’s stock valued at $448,000 after purchasing an additional 534 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Company Profile

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.