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

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Susquehanna reissued a “positive” rating and issued a $33.00 target price on shares of STMicroelectronics in a report on Thursday, November 21st. Robert W. Baird lowered their price target on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Craig Hallum decreased their target price on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.26.

STMicroelectronics Trading Up 0.0 %

The firm has a market capitalization of $21.96 billion, a P/E ratio of 10.00, a P/E/G ratio of 3.20 and a beta of 1.53. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $25.92 and a 200-day simple moving average of $30.53.

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

STMicroelectronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s payout ratio is 14.81%.

Institutional Trading of STMicroelectronics

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

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.