STMicroelectronics (NYSE:STM) Announces $0.06 Quarterly Dividend

STMicroelectronics (NYSE:STM) declared a quarterly dividend on Monday, September 13th, Wall Street Journal reports. Investors of record on Tuesday, September 21st will be paid a dividend of 0.06 per share by the semiconductor producer on Tuesday, September 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, September 20th.

STMicroelectronics has decreased its dividend by 22.5% over the last three years.

Shares of STM stock opened at $45.40 on Tuesday. The company has a 50 day simple moving average of $41.51 and a two-hundred day simple moving average of $38.72. The stock has a market cap of $41.37 billion, a P/E ratio of 26.40 and a beta of 1.46. STMicroelectronics has a 12 month low of $28.80 and a 12 month high of $45.54. The company has a current ratio of 2.43, a quick ratio of 1.86 and a debt-to-equity ratio of 0.26.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, July 29th. The semiconductor producer reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.06. STMicroelectronics had a return on equity of 19.06% and a net margin of 13.44%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business earned $0.10 earnings per share. As a group, equities analysts forecast that STMicroelectronics will post 1.91 earnings per share for the current year.

Several brokerages have weighed in on STM. raised shares of STMicroelectronics to a “buy” rating and set a $39.00 price target on the stock in a report on Friday, July 9th. Zacks Investment Research raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Saturday, July 31st. Citigroup raised STMicroelectronics from a “neutral” rating to a “buy” rating in a research note on Friday, July 9th. Morgan Stanley reissued an “overweight” rating on shares of STMicroelectronics in a report on Monday, August 9th. Finally, The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and set a $41.00 price objective for the company in a report on Wednesday, July 21st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $45.29.

A hedge fund recently raised its stake in STMicroelectronics stock. Morgan Stanley boosted its stake in shares of STMicroelectronics (NYSE:STM) by 29.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 716,121 shares of the semiconductor producer’s stock after acquiring an additional 162,778 shares during the quarter. Morgan Stanley owned about 0.08% of STMicroelectronics worth $26,053,000 as of its most recent SEC filing. Institutional investors own 3.29% of the company’s stock.

STMicroelectronics Company Profile

STMicroelectronics NV designs, develops, manufactures and markets products, which offers discrete and standard commodity components, application-specific integrated circuits, full custom devices and semi-custom devices for analog, digital and mixed-signal applications. It operates through the following segments: Automotive and Discrete Group, Analog and MEMS Group, and Microcontrollers and Digital ICs Group.

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Dividend History for STMicroelectronics (NYSE:STM)

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