STMicroelectronics (NYSE:STM) Shares Down 16.2% - Time to Sell?

STMicroelectronics N.V. (NYSE:STM - Get Free Report)'s stock price was down 16.2% on Thursday . The company traded as low as $26.06 and last traded at $26.64. Approximately 8,902,746 shares traded hands during trading, an increase of 18% from the average daily volume of 7,557,135 shares. The stock had previously closed at $31.77.

Wall Street Analysts Forecast Growth

Several research firms have commented on STM. Craig Hallum reiterated a "hold" rating and set a $28.00 price objective on shares of STMicroelectronics in a research report on Thursday. Susquehanna raised their price target on shares of STMicroelectronics from $30.00 to $40.00 and gave the stock a "positive" rating in a research note on Tuesday. Oddo Bhf raised shares of STMicroelectronics to an "outperform" rating in a research note on Wednesday, July 2nd. Robert W. Baird raised shares of STMicroelectronics from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $23.00 to $50.00 in a research note on Tuesday. Finally, Dbs Bank downgraded shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $33.67.

STMicroelectronics Stock Performance

The company has a market cap of $24.10 billion, a PE ratio of 22.74, a P/E/G ratio of 1.96 and a beta of 1.60. The company has a current ratio of 3.05, a quick ratio of 2.24 and a debt-to-equity ratio of 0.11. The firm's 50-day simple moving average is $29.07 and its two-hundred day simple moving average is $25.45.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The semiconductor producer reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. STMicroelectronics had a net margin of 8.94% and a return on equity of 6.28%. The business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.55 billion. As a group, research analysts anticipate that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, March 24th. STMicroelectronics's dividend payout ratio is currently 26.27%.

Institutional Investors Weigh In On STMicroelectronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in STM. Farther Finance Advisors LLC grew its holdings in shares of STMicroelectronics by 139.6% in the first quarter. Farther Finance Advisors LLC now owns 1,862 shares of the semiconductor producer's stock valued at $41,000 after purchasing an additional 1,085 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of STMicroelectronics by 63.1% during the first quarter. Smartleaf Asset Management LLC now owns 2,167 shares of the semiconductor producer's stock worth $48,000 after purchasing an additional 838 shares in the last quarter. IFP Advisors Inc increased its stake in shares of STMicroelectronics by 85.4% during the second quarter. IFP Advisors Inc now owns 2,269 shares of the semiconductor producer's stock worth $69,000 after buying an additional 1,045 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of STMicroelectronics by 396.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,197 shares of the semiconductor producer's stock worth $70,000 after buying an additional 2,553 shares during the period. Finally, SBI Securities Co. Ltd. increased its stake in shares of STMicroelectronics by 57.2% during the first quarter. SBI Securities Co. Ltd. now owns 3,322 shares of the semiconductor producer's stock worth $73,000 after buying an additional 1,209 shares during the period. Hedge funds and other institutional investors own 5.05% of the company's stock.

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.

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