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

STMicroelectronics (NYSE:STM) shares gapped down before the market opened on Monday . The stock had previously closed at $26.29, but opened at $25.45. STMicroelectronics shares last traded at $25.35, with a volume of 744,993 shares changing hands.

Wall Street Analysts Forecast Growth

STM has been the subject of several research reports. Susquehanna reissued a “positive” rating and set a $33.00 price objective on shares of STMicroelectronics in a report on Thursday, November 21st. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Robert W. Baird cut their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Finally, StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given 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 Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. The stock’s 50-day moving average is $26.65 and its two-hundred day moving average is $32.15. The stock has a market cap of $23.17 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 3.20 and a beta of 1.53.

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

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s payout ratio is 12.76%.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in STM. Envestnet Portfolio Solutions Inc. raised its stake in shares of STMicroelectronics by 6.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 8,967 shares of the semiconductor producer’s stock valued at $352,000 after acquiring an additional 564 shares during the period. Blue Trust Inc. raised its stake in shares of STMicroelectronics by 22.7% in the second quarter. Blue Trust Inc. now owns 5,854 shares of the semiconductor producer’s stock valued at $253,000 after acquiring an additional 1,084 shares during the period. Private Advisory Group LLC bought a new position in shares of STMicroelectronics in the second quarter worth about $5,341,000. Allspring Global Investments Holdings LLC grew its holdings in shares of STMicroelectronics by 49.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,908 shares of the semiconductor producer’s stock worth $154,000 after purchasing an additional 1,293 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of STMicroelectronics by 10.4% in the second quarter. Whittier Trust Co. now owns 8,819 shares of the semiconductor producer’s stock worth $346,000 after purchasing an additional 831 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.