STMicroelectronics (NYSE:STM) Posts Earnings Results

STMicroelectronics (NYSE:STM) issued its quarterly earnings results on Thursday. The semiconductor producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05), Briefing.com reports. STMicroelectronics had a return on equity of 23.52% and a net margin of 22.30%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. STMicroelectronics updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

STMicroelectronics Trading Down 3.0 %

Shares of NYSE:STM opened at $41.33 on Friday. The stock’s 50-day simple moving average is $43.75 and its two-hundred day simple moving average is $44.56. The stock has a market capitalization of $37.31 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 2.76 and a beta of 1.69. STMicroelectronics has a 52-week low of $37.21 and a 52-week high of $55.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.44 and a current ratio of 3.17.

STMicroelectronics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, June 25th. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s dividend payout ratio is 5.13%.

Analysts Set New Price Targets

STM has been the topic of a number of recent research reports. William Blair reissued a “market perform” rating on shares of STMicroelectronics in a research note on Friday. Susquehanna reaffirmed a “positive” rating and issued a $55.00 target price on shares of STMicroelectronics in a report on Monday, April 8th. HSBC started coverage on STMicroelectronics in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday. Finally, Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.75.

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.