STMicroelectronics Declares Quarterly Dividend of $0.09 (NYSE:STM)

STMicroelectronics (NYSE:STM - Get Free Report) announced a quarterly dividend on Thursday, May 29th, Wall Street Journal reports. Investors of record on Tuesday, March 24th will be given a dividend of 0.09 per share by the semiconductor producer on Tuesday, March 31st. This represents a $0.36 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, March 24th.

STMicroelectronics has raised its dividend payment by an average of 14.1% per year over the last three years. STMicroelectronics has a dividend payout ratio of 23.4% meaning its dividend is sufficiently covered by earnings. Analysts expect STMicroelectronics to earn $1.87 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 19.3%.

STMicroelectronics Trading Down 1.6%

STMicroelectronics stock traded down $0.40 during midday trading on Friday, reaching $25.02. The stock had a trading volume of 6,653,327 shares, compared to its average volume of 5,786,412. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 52-week low of $17.25 and a 52-week high of $45.39. The firm has a market cap of $22.47 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. The company has a fifty day moving average of $22.62 and a 200 day moving average of $24.18.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.55 billion. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. On average, analysts anticipate that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on STM. Morgan Stanley raised shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a research report on Thursday, February 13th. Sanford C. Bernstein lowered shares of STMicroelectronics from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $33.00 to $26.00 in a research report on Wednesday, February 5th. Dbs Bank downgraded shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Bank of America downgraded shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Finally, TD Cowen increased their price objective on shares of STMicroelectronics from $18.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $30.97.

Institutional Investors Weigh In On STMicroelectronics

A hedge fund recently bought a new stake in STMicroelectronics stock. Amundi bought a new stake in STMicroelectronics (NYSE:STM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 43,105 shares of the semiconductor producer's stock, valued at approximately $947,000. Institutional investors own 5.05% of the company's stock.

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.