STMicroelectronics (NYSE:STM) Issues Earnings Results

STMicroelectronics (NYSE:STM) issued its quarterly earnings data on Thursday. The semiconductor producer reported $0.37 EPS for the quarter, topping the consensus estimate of $0.33 by $0.04, Briefing.com reports. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The company’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. STMicroelectronics updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

STMicroelectronics Stock Performance

NYSE STM traded down $0.46 on Friday, hitting $26.68. 6,813,271 shares of the stock traded hands, compared to its average volume of 3,951,737. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35. The business’s fifty day moving average is $28.76 and its two-hundred day moving average is $35.49. STMicroelectronics has a 12 month low of $26.44 and a 12 month high of $51.27. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 3.39 and a beta of 1.57.

STMicroelectronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.35%. STMicroelectronics’s dividend payout ratio (DPR) is presently 9.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on STM shares. Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Craig Hallum dropped their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Susquehanna decreased their price objective on shares of STMicroelectronics from $35.00 to $33.00 and set a “positive” rating for the company in a research note on Friday. Finally, Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, STMicroelectronics currently has an average rating of “Moderate Buy” and a consensus target price of $37.63.

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.