STMicroelectronics (NYSE:STM) Shares Gap Up to $27.82

STMicroelectronics (NYSE:STM)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $27.82, but opened at $28.59. STMicroelectronics shares last traded at $28.43, with a volume of 349,518 shares trading hands.

Wall Street Analysts Forecast Growth

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

STMicroelectronics Trading Up 2.2 %

The firm has a 50-day moving average of $33.08 and a 200 day moving average of $39.12. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $25.67 billion, a price-to-earnings ratio of 7.14, a PEG ratio of 3.36 and a beta of 1.58.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.55 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The business’s revenue for the quarter was down 25.3% on a year-over-year basis. During the same period last year, the company posted $1.06 earnings per share. As a group, equities analysts predict that STMicroelectronics will post 1.66 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a yield of 1.27%. STMicroelectronics’s dividend payout ratio (DPR) is currently 7.69%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in STM. Dimensional Fund Advisors LP lifted its holdings in shares of STMicroelectronics by 16.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock worth $38,572,000 after buying an additional 109,477 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of STMicroelectronics by 374.5% in the first quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock valued at $1,644,000 after buying an additional 29,999 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of STMicroelectronics by 153.8% in the first quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after buying an additional 108,152 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in STMicroelectronics by 5.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after buying an additional 120,399 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in STMicroelectronics during the 1st quarter worth about $554,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

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.