STMicroelectronics (NYSE:STM) Stock Price Down 5.6% – What’s Next?

STMicroelectronics N.V. (NYSE:STM)’s share price dropped 5.6% during mid-day trading on Tuesday . The stock traded as low as $74.39 and last traded at $74.5390. Approximately 12,623,926 shares changed hands during trading, an increase of 23% from the average daily volume of 10,259,685 shares. The stock had previously closed at $78.95.

Wall Street Analyst Weigh In

Several research firms have commented on STM. Morgan Stanley reissued an “overweight” rating on shares of STMicroelectronics in a research note on Thursday, May 28th. Robert W. Baird set a $90.00 price target on shares of STMicroelectronics in a research note on Friday, April 24th. Bank of America raised shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Wednesday, June 10th. Citigroup reissued a “buy” rating on shares of STMicroelectronics in a research note on Sunday, April 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a research note on Thursday. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, STMicroelectronics has a consensus rating of “Moderate Buy” and an average price target of $64.39.

STMicroelectronics Trading Down 5.6%

The stock has a market cap of $66.95 billion, a P/E ratio of 465.90 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. The stock’s fifty day moving average price is $58.09 and its 200 day moving average price is $39.65.

STMicroelectronics (NYSE:STM) last announced its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The firm 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%. Equities research analysts expect that STMicroelectronics N.V. will post 1.17 earnings per share for the current year.

STMicroelectronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd will be paid a $0.09 dividend. The ex-dividend date 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 presently 193.75%.

Hedge Funds Weigh In On STMicroelectronics

Hedge funds have recently bought and sold shares of the business. Amundi purchased a new position in shares of STMicroelectronics in the first quarter worth approximately $947,000. AQR Capital Management LLC increased its holdings in STMicroelectronics by 182.8% in the 1st quarter. AQR Capital Management LLC now owns 32,094 shares of the semiconductor producer’s stock worth $705,000 after acquiring an additional 20,745 shares in the last quarter. Legal & General Group Plc purchased a new stake in STMicroelectronics during the 2nd quarter valued at approximately $119,000. M&T Bank Corp purchased a new stake in STMicroelectronics during the 2nd quarter valued at approximately $303,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of STMicroelectronics by 79.1% in the second quarter. EverSource Wealth Advisors LLC now owns 4,883 shares of the semiconductor producer’s stock valued at $148,000 after purchasing an additional 2,156 shares in the last quarter. Hedge funds and other 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.