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

STMicroelectronics (NYSE:STM - Get Free Report) declared a quarterly dividend on Friday, May 23rd, Wall Street Journal reports. Stockholders of record on Tuesday, June 24th will be paid a dividend of 0.09 per share by the semiconductor producer on Tuesday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Tuesday, June 24th.

STMicroelectronics has increased its dividend payment by an average of 14.1% annually over the last three years. STMicroelectronics has a 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 Stock Performance

Shares of STM traded up $0.98 during mid-day trading on Tuesday, reaching $25.39. 7,116,502 shares of the company's stock were exchanged, compared to its average volume of 5,745,083. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. The stock has a market capitalization of $22.80 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. The business's fifty day simple moving average is $22.56 and its 200-day simple moving average is $24.21. STMicroelectronics has a 52-week low of $17.25 and a 52-week high of $45.39.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein downgraded STMicroelectronics from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. Morgan Stanley raised STMicroelectronics from an "underweight" rating to an "equal weight" rating in a report on Thursday, February 13th. TD Cowen increased their price target on STMicroelectronics from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Friday, April 25th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of STMicroelectronics in a research report on Friday, April 25th. Finally, Bank of America lowered shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $30.97.

Institutional Investors Weigh In On STMicroelectronics

An institutional investor recently raised its position in STMicroelectronics stock. AQR Capital Management LLC increased its holdings in STMicroelectronics (NYSE:STM - Free Report) by 182.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,094 shares of the semiconductor producer's stock after buying an additional 20,745 shares during the period. AQR Capital Management LLC's holdings in STMicroelectronics were worth $705,000 as of its most recent SEC filing. 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.