STMicroelectronics (NYSE:STM) to Issue Quarterly Dividend of $0.09

STMicroelectronics (NYSE:STM - Get Free Report) announced a quarterly dividend on Friday, May 30th, 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% annually over the last three years. STMicroelectronics has a payout ratio of 23.4% indicating that 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%

Shares of NYSE STM traded down $0.40 during midday trading on Friday, hitting $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 debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $45.39. The company's 50-day simple moving average is $22.62 and its 200 day simple moving average is $24.18. The firm has a market cap of $22.47 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53.

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, topping analysts' consensus estimates of $0.05 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. The business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.55 billion. Research analysts anticipate that STMicroelectronics will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in STMicroelectronics stock. Amundi purchased a new position in shares of STMicroelectronics (NYSE:STM - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 43,105 shares of the semiconductor producer's stock, valued at approximately $947,000. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STM has been the topic of several recent analyst reports. Sanford C. Bernstein lowered 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 report on Wednesday, February 5th. Morgan Stanley upgraded STMicroelectronics from an "underweight" rating to an "equal weight" rating in a report on Thursday, February 13th. TD Cowen upped their price objective on STMicroelectronics from $18.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, April 25th. Bank of America downgraded STMicroelectronics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. Finally, Dbs Bank downgraded STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, STMicroelectronics presently has an average rating of "Hold" and a consensus price target of $30.97.

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.