STMicroelectronics (NYSE:STM) Stock Price Up 1.6% – Here’s What Happened

STMicroelectronics N.V. (NYSE:STM)’s stock price shot up 1.6% on Monday . The company traded as high as $81.17 and last traded at $79.6250. 10,388,553 shares were traded during mid-day trading, an increase of 0% from the average session volume of 10,351,854 shares. The stock had previously closed at $78.39.

Analyst Ratings Changes

A number of brokerages recently issued reports on STM. Morgan Stanley restated an “overweight” rating on shares of STMicroelectronics in a report on Thursday, May 28th. Craig Hallum upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, April 23rd. Mizuho lifted their price target on shares of STMicroelectronics from $68.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. UBS Group set a $100.00 price target on shares of STMicroelectronics in a report on Wednesday, June 10th. Finally, Citigroup restated a “buy” rating on shares of STMicroelectronics in a research report on Sunday, April 26th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.39.

STMicroelectronics Price Performance

The company’s fifty day moving average price is $61.32 and its two-hundred day moving average price is $41.16. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The company has a market cap of $71.52 billion, a price-to-earnings ratio of 497.69 and a beta of 1.94.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The business had revenue of $3.10 billion for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. On average, equities research analysts forecast that STMicroelectronics N.V. will post 1.17 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 22nd. STMicroelectronics’s payout ratio is 193.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STM. Van ECK Associates Corp raised its position in STMicroelectronics by 12.2% in the 4th quarter. Van ECK Associates Corp now owns 10,532,428 shares of the semiconductor producer’s stock valued at $273,211,000 after buying an additional 1,145,426 shares during the last quarter. Morgan Stanley grew its stake in shares of STMicroelectronics by 40.6% during the 4th quarter. Morgan Stanley now owns 6,156,161 shares of the semiconductor producer’s stock worth $159,691,000 after acquiring an additional 1,778,113 shares in the last quarter. Invesco Ltd. raised its holdings in shares of STMicroelectronics by 29.9% in the fourth quarter. Invesco Ltd. now owns 5,199,951 shares of the semiconductor producer’s stock valued at $134,887,000 after purchasing an additional 1,196,018 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of STMicroelectronics by 43.9% in the second quarter. Bank of America Corp DE now owns 4,348,569 shares of the semiconductor producer’s stock valued at $132,240,000 after purchasing an additional 1,326,020 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of STMicroelectronics by 19.1% in the third quarter. JPMorgan Chase & Co. now owns 3,990,874 shares of the semiconductor producer’s stock worth $112,782,000 after purchasing an additional 641,327 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Company Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.