STMicroelectronics (NYSE:STM) Stock Price Up 5.9% – Here’s What Happened

STMicroelectronics (NYSE:STM) shares traded up 5.9% during trading on Thursday . The stock traded as high as $28.06 and last traded at $28.04. 12,665,903 shares were traded during mid-day trading, an increase of 80% from the average session volume of 7,024,324 shares. The stock had previously closed at $26.47.

Analyst Upgrades and Downgrades

Several analysts have weighed in on STM shares. Robert W. Baird cut their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. TD Cowen cut shares of STMicroelectronics from a “buy” rating to a “hold” rating and cut their price objective for the company from $32.00 to $25.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Morgan Stanley upgraded shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. Finally, Craig Hallum reduced their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, STMicroelectronics presently has a consensus rating of “Hold” and a consensus target price of $31.26.

STMicroelectronics Price Performance

The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The company has a market cap of $24.91 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.16 and a beta of 1.51. The business has a 50-day moving average price of $24.70 and a 200 day moving average price of $26.85.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. As a group, research analysts expect that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

STMicroelectronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.31%. STMicroelectronics’s dividend payout ratio is 18.67%.

Institutional Trading of STMicroelectronics

Institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its stake in STMicroelectronics by 14.5% during the fourth quarter. Deutsche Bank AG now owns 3,682 shares of the semiconductor producer’s stock worth $92,000 after purchasing an additional 466 shares during the period. Stifel Financial Corp lifted its holdings in STMicroelectronics by 0.7% during the 3rd quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer’s stock worth $2,048,000 after buying an additional 493 shares in the last quarter. GAMMA Investing LLC boosted its position in STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after buying an additional 531 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in STMicroelectronics by 4.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,280 shares of the semiconductor producer’s stock valued at $307,000 after acquiring an additional 539 shares during the last quarter. Finally, Moran Wealth Management LLC increased its position in STMicroelectronics by 0.9% in the third quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer’s stock worth $2,039,000 after purchasing an additional 634 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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.