STMicroelectronics (NYSE:STM) announced a quarterly dividend on Monday, September 13th, Wall Street Journal reports. Stockholders of record on Tuesday, September 21st will be given a dividend of 0.06 per share by the semiconductor producer on Tuesday, September 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, September 20th.
STMicroelectronics has decreased its dividend by 22.5% over the last three years.
NYSE:STM opened at $46.62 on Wednesday. The firm has a market capitalization of $42.48 billion, a P/E ratio of 27.10 and a beta of 1.46. STMicroelectronics has a 1-year low of $28.80 and a 1-year high of $46.90. The company’s fifty day moving average price is $41.70 and its 200-day moving average price is $38.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.43 and a quick ratio of 1.86.
A hedge fund recently raised its stake in STMicroelectronics stock. Morgan Stanley raised its stake in shares of STMicroelectronics (NYSE:STM) by 29.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 716,121 shares of the semiconductor producer’s stock after purchasing an additional 162,778 shares during the period. Morgan Stanley owned 0.08% of STMicroelectronics worth $26,053,000 at the end of the most recent quarter. 3.29% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on STM shares. upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Friday, July 9th. Barclays restated an “overweight” rating on shares of STMicroelectronics in a research report on Friday, July 30th. Morgan Stanley restated an “overweight” rating on shares of STMicroelectronics in a research report on Monday, August 9th. Cowen raised their price target on shares of STMicroelectronics from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Finally, Societe Generale restated a “buy” rating on shares of STMicroelectronics in a research report on Monday, August 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, STMicroelectronics currently has a consensus rating of “Buy” and an average target price of $45.29.
STMicroelectronics NV designs, develops, manufactures and markets products, which offers discrete and standard commodity components, application-specific integrated circuits, full custom devices and semi-custom devices for analog, digital and mixed-signal applications. It operates through the following segments: Automotive and Discrete Group, Analog and MEMS Group, and Microcontrollers and Digital ICs Group.
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