STMicroelectronics (NYSE:STM) Announces Quarterly Earnings Results

STMicroelectronics (NYSE:STM) issued its quarterly earnings data on Thursday. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.05), Briefing.com reports. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.61 billion. STMicroelectronics had a return on equity of 27.70% and a net margin of 24.36%. The firm’s revenue was down 18.4% on a year-over-year basis. During the same period last year, the company earned $1.10 earnings per share. STMicroelectronics updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

STMicroelectronics Price Performance

Shares of NYSE STM traded down $1.27 during trading on Friday, hitting $41.33. The company had a trading volume of 3,775,949 shares, compared to its average volume of 3,636,699. The company has a market cap of $37.31 billion, a P/E ratio of 9.30, a PEG ratio of 2.82 and a beta of 1.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.44 and a current ratio of 3.17. The business’s 50-day moving average is $43.83 and its 200 day moving average is $44.58. STMicroelectronics has a 52 week low of $37.21 and a 52 week high of $55.85.

STMicroelectronics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, June 25th. STMicroelectronics’s dividend payout ratio (DPR) is presently 4.48%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on STM shares. StockNews.com cut shares of STMicroelectronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 31st. William Blair restated a “market perform” rating on shares of STMicroelectronics in a research note on Friday. Susquehanna reissued a “positive” rating and set a $55.00 target price on shares of STMicroelectronics in a research report on Monday, April 8th. Berenberg Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, HSBC began coverage on shares of STMicroelectronics in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, STMicroelectronics has an average rating of “Moderate Buy” and a consensus target price of $50.75.

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.