STMicroelectronics NV (STM) Trading Down 3.3%
STMicroelectronics NV (NYSE:STM)’s share price traded down 3.3% during mid-day trading on Friday . The company traded as low as $7.24 and last traded at $7.29, with a volume of 1,599,500 shares. The stock had previously closed at $7.54.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded STMicroelectronics NV from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Bank of America Corp. downgraded STMicroelectronics NV from a “neutral” rating to an “underperform” rating in a research note on Friday. Finally, TheStreet upgraded STMicroelectronics NV from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $8.15.
The company has a market cap of $6.44 billion and a P/E ratio of 86.79. The firm’s 50-day moving average is $7.19 and its 200-day moving average is $6.10.
STMicroelectronics NV (NYSE:STM) last posted its earnings results on Wednesday, July 27th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by $0.00. During the same period in the prior year, the company posted $0.04 EPS. The business earned $1.70 million during the quarter, compared to the consensus estimate of $1.76 million. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts anticipate that STMicroelectronics NV will post $0.20 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 27th. Stockholders of record on Tuesday, September 20th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 16th. This represents a $0.24 annualized dividend and a dividend yield of 3.29%.
STMicroelectronics N.V. is a global semiconductor company. The Company is focused on Smart Driving, enabled by digitalization and electrification of the car, and the Internet of Things, including portable and wearable systems, as well as smart home, city and industry applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG) and Others.
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