STMicroelectronics (NYSE:STM) Shares Gap Up to $48.63

STMicroelectronics (NYSE:STM)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $48.63, but opened at $50.56. STMicroelectronics shares last traded at $51.16, with a volume of 71,808 shares changing hands.

A number of analysts have recently weighed in on STM shares. Barclays restated an “overweight” rating on shares of STMicroelectronics in a report on Friday, October 29th. Zacks Investment Research upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday. lifted their target price on shares of STMicroelectronics from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 29th. Craig Hallum lifted their target price on shares of STMicroelectronics from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, October 28th. Finally, Societe Generale reiterated a “buy” rating on shares of STMicroelectronics in a research note on Tuesday, November 2nd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $49.25.

The company has a current ratio of 2.67, a quick ratio of 1.98 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $45.06 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 3.60 and a beta of 1.46. The firm’s fifty day moving average price is $49.27 and its two-hundred day moving average price is $44.94.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, October 28th. The semiconductor producer reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.21 billion. STMicroelectronics had a net margin of 14.73% and a return on equity of 21.30%. STMicroelectronics’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned $0.26 earnings per share. As a group, sell-side analysts anticipate that STMicroelectronics will post 2.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 21st. Stockholders of record on Tuesday, December 14th were issued a dividend of $0.066 per share. This represents a $0.26 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, December 13th. STMicroelectronics’s dividend payout ratio (DPR) is 10.15%.

Several large investors have recently bought and sold shares of STM. Amundi Pioneer Asset Management Inc. purchased a new position in shares of STMicroelectronics during the 1st quarter valued at approximately $7,630,000. Ethic Inc. increased its holdings in STMicroelectronics by 13.6% in the 2nd quarter. Ethic Inc. now owns 6,064 shares of the semiconductor producer’s stock worth $221,000 after acquiring an additional 724 shares in the last quarter. Cresset Asset Management LLC increased its holdings in STMicroelectronics by 9.5% in the 2nd quarter. Cresset Asset Management LLC now owns 6,660 shares of the semiconductor producer’s stock worth $242,000 after acquiring an additional 579 shares in the last quarter. CWM Advisors LLC increased its holdings in STMicroelectronics by 7.4% in the 2nd quarter. CWM Advisors LLC now owns 32,475 shares of the semiconductor producer’s stock worth $1,181,000 after acquiring an additional 2,246 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in STMicroelectronics in the 2nd quarter worth $3,147,000. 3.43% of the stock is owned by hedge funds and other institutional investors.

About STMicroelectronics (NYSE:STM)

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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