STMicroelectronics (NYSE:STM) Shares Gap Down to $28.59

Shares of STMicroelectronics (NYSE:STM) gapped down prior to trading on Monday . The stock had previously closed at $28.59, but opened at $27.92. STMicroelectronics shares last traded at $27.70, with a volume of 487,483 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Craig Hallum dropped their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Morgan Stanley lowered STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. The Goldman Sachs Group upgraded STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $35.50 to $45.80 in a report on Tuesday, June 18th. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, TD Cowen cut their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, STMicroelectronics currently has an average rating of “Moderate Buy” and a consensus target price of $43.13.

STMicroelectronics Stock Performance

The firm’s 50 day moving average is $33.37 and its 200 day moving average is $39.25. The stock has a market cap of $24.90 billion, a P/E ratio of 7.33, a price-to-earnings-growth ratio of 3.36 and a beta of 1.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The company’s revenue was down 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 earnings per share. Analysts anticipate that STMicroelectronics will post 1.66 EPS for the current year.

STMicroelectronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is presently 7.69%.

Institutional Trading of STMicroelectronics

Large investors have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in STMicroelectronics in the first quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. grew its stake in STMicroelectronics by 144.2% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after acquiring an additional 734 shares during the period. Ridgewood Investments LLC purchased a new stake in STMicroelectronics in the 2nd quarter worth $51,000. Principal Securities Inc. acquired a new position in STMicroelectronics during the fourth quarter worth $70,000. Finally, Denver PWM LLC purchased a new position in STMicroelectronics during the second quarter valued at $72,000. Hedge funds and other institutional investors 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.