STMicroelectronics Plans Quarterly Dividend of $0.10 (STM)

STMicroelectronics (NYSE:STM) announced a quarterly dividend on Friday, May 31st, Analyst Ratings Network reports. Stockholders of record on Wednesday, June 26th will be paid a dividend of $0.10 per share on Tuesday, July 2nd. This represents a $0.40 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Monday, June 24th.

A number of research firms have also recently commented on STM. Analysts at JPMorgan Chase initiated coverage on shares of STMicroelectronics in a research note to investors on Monday, May 20th. They set an “overweight” rating on the stock. On a related note, analysts at JP Morgan Cazenove initiated coverage on shares of STMicroelectronics in a research note to investors on Monday, May 20th. They set an “outperform” rating on the stock. Finally, analysts at Zacks upgraded shares of STMicroelectronics from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, April 29th. They now have a $9.30 price target on the stock.

Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $16.83.

Shares of STMicroelectronics (NYSE: STM) opened at 9.30 on Monday. STMicroelectronics has a 52 week low of $4.51 and a 52 week high of $9.90. The stock’s 50-day moving average is currently $8.70. The company’s market cap is $8.258 billion.

STMicroelectronics (NYSE: STM) last released its earnings data on Monday, April 22nd. The company reported ($0.14) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.10) by $0.04. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts predict that STMicroelectronics will post $-0.01 earnings per share for the current fiscal year.

STMicroelectronics N.V. 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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