STMicroelectronics (NYSE:STM) Shares Up 1.6% – Here’s What Happened

STMicroelectronics N.V. (NYSE:STM) shares shot up 1.6% during mid-day trading on Monday . The company traded as high as $81.17 and last traded at $79.6250. Approximately 10,388,553 shares traded hands during mid-day trading, an increase of 0% from the average daily volume of 10,351,854 shares. The stock had previously closed at $78.39.

Analyst Ratings Changes

STM has been the topic of a number of analyst reports. Susquehanna upped their price target on STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a research report on Monday, February 23rd. TD Cowen restated a “hold” rating on shares of STMicroelectronics in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of STMicroelectronics in a report on Thursday, June 11th. Robert W. Baird set a $90.00 target price on shares of STMicroelectronics in a research report on Friday, April 24th. Finally, Weiss Ratings raised shares of STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.39.

STMicroelectronics Stock Up 1.6%

The stock has a market cap of $71.52 billion, a price-to-earnings ratio of 497.69 and a beta of 1.94. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.34 and a current ratio of 3.31. The firm’s 50-day simple moving average is $61.32 and its two-hundred day simple moving average is $41.16.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share (EPS) for the quarter. The firm had revenue of $3.10 billion for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%. On average, sell-side analysts expect that STMicroelectronics N.V. will post 1.17 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

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

Institutional Investors Weigh In On STMicroelectronics

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of STMicroelectronics by 19.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,990,874 shares of the semiconductor producer’s stock valued at $112,782,000 after acquiring an additional 641,327 shares during the last quarter. Maxi Investments CY Ltd bought a new position in shares of STMicroelectronics in the 4th quarter worth $2,335,000. M&T Bank Corp boosted its position in shares of STMicroelectronics by 243.1% in the 4th quarter. M&T Bank Corp now owns 33,299 shares of the semiconductor producer’s stock worth $864,000 after purchasing an additional 23,593 shares during the last quarter. Diversified Management Inc. acquired a new stake in shares of STMicroelectronics during the fourth quarter worth $648,000. Finally, Analog Century Management LP increased its holdings in STMicroelectronics by 27.4% in the third quarter. Analog Century Management LP now owns 2,780,953 shares of the semiconductor producer’s stock valued at $78,590,000 after purchasing an additional 598,550 shares during the last quarter. Institutional investors and hedge funds 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.