STMicroelectronics (NYSE:STM) Stock Price Down 1.1% – Here’s What Happened

STMicroelectronics N.V. (NYSE:STM)’s share price was down 1.1% on Friday . The company traded as low as $76.31 and last traded at $77.2940. Approximately 11,251,635 shares changed hands during trading, an increase of 10% from the average daily volume of 10,252,589 shares. The stock had previously closed at $78.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Bank of America upgraded STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday. Mizuho increased their price objective on shares of STMicroelectronics from $68.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Craig Hallum upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, April 23rd. Weiss Ratings raised shares of STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of STMicroelectronics in a report on Thursday, May 28th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.39.

STMicroelectronics Price Performance

The company’s 50-day moving average price is $56.34 and its two-hundred day moving average price is $38.87. The company has a market cap of $69.42 billion, a P/E ratio of 483.12 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 quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The business had revenue of $3.10 billion for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. As a group, sell-side analysts expect that STMicroelectronics N.V. will post 1.17 earnings per share for the current year.

STMicroelectronics Dividend Announcement

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

Hedge Funds Weigh In On STMicroelectronics

Several large investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in STMicroelectronics by 40.6% during the fourth quarter. Morgan Stanley now owns 6,156,161 shares of the semiconductor producer’s stock valued at $159,691,000 after purchasing an additional 1,778,113 shares during the last quarter. Marshall Wace LLP bought a new position in shares of STMicroelectronics in the 4th quarter worth about $42,731,000. Invesco Ltd. boosted its holdings in shares of STMicroelectronics by 67.1% in the 3rd quarter. Invesco Ltd. now owns 4,003,933 shares of the semiconductor producer’s stock valued at $113,151,000 after buying an additional 1,608,029 shares during the period. Defiance ETFs LLC bought a new stake in shares of STMicroelectronics during the 4th quarter valued at about $39,545,000. Finally, Two Sigma Investments LP grew its position in shares of STMicroelectronics by 135.0% during the 3rd quarter. Two Sigma Investments LP now owns 2,322,540 shares of the semiconductor producer’s stock valued at $65,635,000 after buying an additional 1,334,192 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors.

About STMicroelectronics

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.