STMicroelectronics (NYSE:STM) Shares Gap Up – Here’s What Happened

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 changing hands.

Analysts Set New Price Targets

Several equities research analysts have commented on STM shares. Susquehanna restated a “positive” rating and issued a $33.00 price objective on shares of STMicroelectronics in a research report on Thursday, November 21st. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. BNP Paribas initiated coverage on shares of STMicroelectronics in a report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price objective for the company. Robert W. Baird decreased their price objective 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. Finally, Morgan Stanley cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.26.

STMicroelectronics Stock Performance

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 company has a market cap of $22.83 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 3.20 and a beta of 1.52. The firm has a 50 day simple moving average of $25.75 and a 200-day simple moving average of $30.02.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share 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 last year, the business earned $1.16 earnings per share. The business’s revenue for the quarter was down 26.6% on a year-over-year basis. As a group, analysts predict that STMicroelectronics will post 1.64 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 25th. This represents a $0.36 dividend on an annualized basis and a yield of 1.42%. STMicroelectronics’s dividend payout ratio (DPR) is presently 14.81%.

Hedge Funds Weigh In On STMicroelectronics

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

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.