STMicroelectronics (NYSE:STM) Shares Gap Up – What’s Next?

STMicroelectronics (NYSE:STM) gapped up before the market opened on Monday . The stock had previously closed at $24.41, but opened at $25.66. STMicroelectronics shares last traded at $26.11, with a volume of 1,108,665 shares traded.

Analysts Set New Price Targets

STM has been the topic of a number of recent research reports. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Susquehanna restated a “positive” rating and issued a $33.00 target price on shares of STMicroelectronics in a research report on Thursday, November 21st. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Robert W. Baird reduced their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Morgan Stanley downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.26.

STMicroelectronics Trading Up 8.0 %

The company has a fifty day simple moving average of $25.84 and a two-hundred day simple moving average of $30.22. The company has a market cap of $23.82 billion, a PE ratio of 10.85, a P/E/G ratio of 3.20 and a beta of 1.52. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12.

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

STMicroelectronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be given 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 1.37%. STMicroelectronics’s payout ratio is 14.81%.

Hedge Funds Weigh In On STMicroelectronics

Large investors have recently modified their holdings of the business. Truvestments Capital LLC purchased a new position in STMicroelectronics in the 3rd quarter valued at approximately $25,000. Archer Investment Corp acquired a new stake in STMicroelectronics during the 3rd quarter valued at $30,000. GAMMA Investing LLC grew its holdings in STMicroelectronics by 81.4% during the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after buying an additional 531 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of STMicroelectronics during the third quarter worth $34,000. Finally, TD Private Client Wealth LLC boosted its holdings in shares of STMicroelectronics by 108.3% during the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after purchasing an additional 809 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

About STMicroelectronics

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.