STMicroelectronics (NYSE:STM – Get Free Report) announced 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. STMicroelectronics had a net margin of 24.36% and a return on equity of 27.70%. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the prior year, the company posted $1.10 EPS. The firm’s revenue was down 18.4% on a year-over-year basis. STMicroelectronics updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.
STMicroelectronics Stock Down 2.6 %
NYSE:STM traded down $1.10 during midday trading on Friday, hitting $41.50. 1,920,580 shares of the company were exchanged, compared to its average volume of 3,627,231. The company has a fifty day simple moving average of $43.83 and a 200 day simple moving average of $44.58. STMicroelectronics has a fifty-two week low of $37.21 and a fifty-two week high of $55.85. The company has a current ratio of 3.17, a quick ratio of 2.44 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $37.46 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 2.82 and a beta of 1.69.
STMicroelectronics Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be given a dividend of $0.09 per share. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, June 25th. STMicroelectronics’s payout ratio is 4.48%.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on STM
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.
See Also
- Five stocks we like better than STMicroelectronics
- The How and Why of Investing in Gold Stocks
- 3 Stocks Leading the U.S. Agriculture Comeback
- How to Use the MarketBeat Stock Screener
- How to Use Put Debit Spreads to Profit From Falling Stocks
- 5 discounted opportunities for dividend growth investors
- Alphabet Changes the Narrative with Its First-Ever Dividend
Receive News & Ratings for STMicroelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics and related companies with MarketBeat.com's FREE daily email newsletter.