STMicroelectronics (NYSE:STM) Issues Earnings Results

STMicroelectronics (NYSE:STM - Get Free Report) posted its quarterly earnings data 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 27.70% and a net margin of 24.36%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. The company's quarterly revenue was down 18.4% on a year-over-year basis. STMicroelectronics updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

STMicroelectronics Stock Performance

STMicroelectronics stock traded down $1.27 during trading hours on Friday, hitting $41.34. The company had a trading volume of 3,775,997 shares, compared to its average volume of 3,651,137. The firm has a market cap of $37.32 billion, a PE ratio of 9.27, a PEG ratio of 2.82 and a beta of 1.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.17 and a quick ratio of 2.44. STMicroelectronics has a one year low of $37.21 and a one year high of $55.85. The firm has a 50-day moving average of $43.75 and a 200 day moving average of $44.56.

STMicroelectronics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from STMicroelectronics's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, June 25th. STMicroelectronics's dividend payout ratio is presently 4.48%.

Analyst Upgrades and Downgrades

STM has been the subject of a number of recent research reports. HSBC initiated coverage on shares of STMicroelectronics in a research note on Thursday, February 22nd. They set a "buy" rating for the company. William Blair restated a "market perform" rating on shares of STMicroelectronics in a research note on Friday. Susquehanna restated a "positive" rating and set a $55.00 price objective on shares of STMicroelectronics in a research note on Monday, April 8th. StockNews.com downgraded shares of STMicroelectronics from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 31st. Finally, Berenberg Bank upgraded shares of STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, STMicroelectronics presently has an average rating of "Moderate Buy" and a consensus target price of $50.75.

STMicroelectronics Company Profile

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.