STMicroelectronics (STM) Shares Gap Down to $14.73
STMicroelectronics NV (NYSE:STM)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $14.13, but opened at $14.73. STMicroelectronics shares last traded at $13.92, with a volume of 309670 shares trading hands.
STM has been the topic of several research reports. Zacks Investment Research lowered STMicroelectronics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. ValuEngine lowered STMicroelectronics from a “sell” rating to a “strong sell” rating in a research note on Monday, September 17th. Deutsche Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 26th. Craig Hallum cut their price target on STMicroelectronics from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Finally, Bank of America raised STMicroelectronics from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. STMicroelectronics presently has an average rating of “Hold” and a consensus target price of $23.48.
The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 2.01 and a beta of 1.07. The company has a quick ratio of 1.81, a current ratio of 2.54 and a debt-to-equity ratio of 0.27.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Tuesday, December 18th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Monday, December 17th. STMicroelectronics’s payout ratio is currently 20.41%.
Hedge funds have recently modified their holdings of the stock. Centaurus Financial Inc. bought a new stake in STMicroelectronics during the second quarter valued at about $125,000. Cornerstone Wealth Management LLC bought a new stake in STMicroelectronics during the second quarter valued at about $343,000. Marietta Investment Partners LLC bought a new stake in STMicroelectronics during the second quarter valued at about $202,000. BB&T Securities LLC bought a new stake in STMicroelectronics during the second quarter valued at about $214,000. Finally, Advent Capital Management DE bought a new stake in STMicroelectronics during the third quarter valued at about $183,000. 3.73% of the stock is currently owned by institutional investors.
STMicroelectronics Company Profile (NYSE:STM)
STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.
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