STMicroelectronics N.V. (NYSE:STM) declared that its Board of Directors has authorized a share buyback plan, which authorizes the company to repurchase $297.00 million in outstanding shares on Thursday, June 22nd, EventVestor reports. This repurchase authorization authorizes the semiconductor producer to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of equities analysts have weighed in on STM shares. Craig Hallum reiterated a “buy” rating and issued a $20.00 price target on shares of STMicroelectronics N.V. in a report on Thursday, April 27th. Robert W. Baird lifted their price target on shares of STMicroelectronics N.V. from $15.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Stifel Nicolaus lowered shares of STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Zacks Investment Research lowered shares of STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. Finally, BidaskClub lowered shares of STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. STMicroelectronics N.V. presently has a consensus rating of “Buy” and an average price target of $18.38.
STMicroelectronics N.V. (NYSE STM) opened at 17.37 on Friday. STMicroelectronics N.V. has a 12-month low of $6.97 and a 12-month high of $17.44. The firm has a market cap of $15.82 billion, a price-to-earnings ratio of 91.42 and a beta of 0.66. The company’s 50 day moving average is $15.60 and its 200 day moving average is $15.28.
STMicroelectronics N.V. (NYSE:STM) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. On average, equities analysts anticipate that STMicroelectronics N.V. will post $0.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Tuesday, June 27th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, June 23rd. This represents a $0.24 annualized dividend and a dividend yield of 1.38%. STMicroelectronics N.V.’s dividend payout ratio (DPR) is 40.00%.
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STMicroelectronics N.V. Company Profile
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
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