STMicroelectronics (NYSE:STM) Issues Earnings Results

STMicroelectronics (NYSE:STM) posted its quarterly earnings data on Thursday. The semiconductor producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05), Briefing.com reports. STMicroelectronics had a net margin of 24.36% and a return on equity of 27.70%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the company earned $1.10 earnings per share. The company’s revenue was down 18.4% compared to the same quarter last year. STMicroelectronics updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

STMicroelectronics Price Performance

STMicroelectronics stock traded down $1.10 during trading hours on Friday, hitting $41.50. 1,920,580 shares of the company traded hands, compared to its average volume of 3,627,231. The firm has a market cap of $37.46 billion, a P/E ratio of 9.34, a P/E/G ratio of 2.82 and a beta of 1.69. The company has a quick ratio of 2.44, a current ratio of 3.17 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $43.83 and its two-hundred day simple moving average is $44.58. STMicroelectronics has a 1-year low of $37.21 and a 1-year high of $55.85.

STMicroelectronics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be paid a dividend of $0.09 per share. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, June 25th. This represents a $0.36 annualized dividend and a yield of 0.87%. STMicroelectronics’s dividend payout ratio (DPR) is presently 4.48%.

Analyst Ratings Changes

A number of research firms have recently issued reports on STM. Susquehanna restated a “positive” rating and issued a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. HSBC began coverage on shares of STMicroelectronics in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock. Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday. StockNews.com downgraded shares of STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Finally, Craig Hallum dropped their price objective on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.75.

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.