STMicroelectronics (NYSE:STM) Issues Quarterly Earnings Results

STMicroelectronics (NYSE:STM) announced its quarterly earnings data on Thursday. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04, Briefing.com reports. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.55 billion. STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The firm’s quarterly revenue was down 25.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. STMicroelectronics updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

STMicroelectronics Trading Up 1.5 %

Shares of NYSE:STM traded up $0.52 during trading on Friday, reaching $33.99. 5,583,824 shares of the company were exchanged, compared to its average volume of 3,536,262. The firm has a market capitalization of $30.70 billion, a PE ratio of 8.71, a P/E/G ratio of 3.71 and a beta of 1.59. The business’s fifty day simple moving average is $41.52 and its 200-day simple moving average is $42.83. STMicroelectronics has a 12-month low of $33.16 and a 12-month high of $55.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 2.58.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Cowen decreased their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday. Berenberg Bank raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Craig Hallum decreased their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday. Susquehanna reissued a “positive” rating and issued a $55.00 price objective on shares of STMicroelectronics in a research note on Monday, April 8th. Finally, William Blair reissued a “market perform” rating on shares of STMicroelectronics in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.56.

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.