STMicroelectronics NV Trading 4.3% Higher Following Dividend Announcement (STM)
STMicroelectronics NV (NYSE:STM) shares traded up 4.3% during mid-day trading on Wednesday after the company announced a dividend, Stock Ratings Network.com reports. The company traded as high as $9.22 and last traded at $9.15, with a volume of 413,653 shares trading hands. The stock had previously closed at $8.77.
The newly announced dividend is scheduled for Tuesday, September 30th. Stockholders of record on Wednesday, September 24th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Monday, September 22nd.
A number of analysts have recently weighed in on STM shares. Analysts at Citigroup Inc. downgraded shares of STMicroelectronics NV from a “neutral” rating to a “sell” rating in a research note on Monday, June 2nd. Separately, analysts at HSBC downgraded shares of STMicroelectronics NV from a “neutral” rating to an “underweight” rating in a research note on Thursday, May 22nd. Finally, analysts at Natixis raised their price target on shares of STMicroelectronics NV from $10.20 to $10.60 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $9.68.
The stock’s 50-day moving average is $9.37 and its 200-day moving average is $8.92. The company’s market cap is $8.150 billion.
STMicroelectronics NV (NYSE:STM) last issued its quarterly earnings data on Monday, April 28th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.03) by $0.02. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. On average, analysts predict that STMicroelectronics NV will post $0.22 earnings per share for the current fiscal year.
STMicroelectronics NV is a global independent semiconductor company that designs, develops, manufactures and markets a range of semiconductor products used in a variety of microelectronic applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems.
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