STMicroelectronics Declares Quarterly Dividend of $0.09 (NYSE:STM)

STMicroelectronics (NYSE:STM) declared a quarterly dividend on Monday, December 9th,Wall Street Journal reports. Investors of record on Tuesday, March 25th will be paid a dividend of 0.09 per share by the semiconductor producer on Tuesday, April 1st. This represents a $0.36 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, March 25th.

STMicroelectronics has raised its dividend payment by an average of 8.9% annually over the last three years. STMicroelectronics has a payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect STMicroelectronics to earn $1.24 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 29.0%.

STMicroelectronics Trading Up 0.4 %

STMicroelectronics stock traded up $0.11 during trading hours on Monday, reaching $26.54. 6,187,069 shares of the company’s stock were exchanged, compared to its average volume of 4,085,942. The firm’s 50 day simple moving average is $26.90 and its 200 day simple moving average is $32.69. STMicroelectronics has a twelve month low of $23.95 and a twelve month high of $51.27. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $23.98 billion, a PE ratio of 10.88, a PEG ratio of 3.21 and a beta of 1.53.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. STMicroelectronics’s revenue was down 26.6% on a year-over-year basis. Research analysts predict that STMicroelectronics will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Robert W. Baird cut their price target on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Susquehanna reaffirmed a “positive” rating and issued a $33.00 price objective on shares of STMicroelectronics in a research note on Thursday, November 21st. StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, BNP Paribas began coverage on STMicroelectronics in a research note on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.26.

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.