STMicroelectronics (NYSE:STM) Hits New 12-Month Low – Here’s What Happened

Shares of STMicroelectronics (NYSE:STM) hit a new 52-week low on Friday . The company traded as low as $23.94 and last traded at $24.03, with a volume of 868981 shares traded. The stock had previously closed at $24.30.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Robert W. Baird decreased their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. BNP Paribas assumed coverage on shares of STMicroelectronics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price target on the stock. Susquehanna restated a “positive” rating and issued a $33.00 price objective on shares of STMicroelectronics in a report on Thursday, November 21st. Finally, Morgan Stanley downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.26.

STMicroelectronics Stock Up 0.5 %

The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The company’s fifty day moving average price is $25.84 and its 200-day moving average price is $30.31. The stock has a market capitalization of $22.05 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 3.20 and a beta of 1.53.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The firm’s quarterly revenue was down 26.6% compared to the same quarter last year. Analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 dividend on an annualized basis and a yield of 1.47%. STMicroelectronics’s dividend payout ratio is currently 14.81%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in STMicroelectronics by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock worth $228,655,000 after acquiring an additional 1,719,257 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after purchasing an additional 1,478,213 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of STMicroelectronics by 674.2% during the third quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock valued at $41,524,000 after purchasing an additional 1,216,300 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of STMicroelectronics by 128.1% during the second quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock valued at $25,469,000 after buying an additional 364,184 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in STMicroelectronics in the 3rd quarter worth about $7,642,000. Institutional investors 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.