STMicroelectronics buys back shares worth EUR 5.8 million

EditorIsmeta Mujdragic
Published 04/08/2024, 10:29 AM

AMSTERDAM - STMicroelectronics N.V., a key player in the semiconductor industry, has completed a share repurchase, buying back 148,522 of its own shares between April 2, 2024, and April 5, 2024. The transactions were carried out on Euronext Paris and are part of a program initially announced on July 1, 2021, following approval by shareholders and the supervisory board on May 27, 2021.

The company, which is listed on Euronext under the symbol EPA:STM, acquired these shares at an average price of EUR 39.3354 per share, amounting to a total expenditure of EUR 5,842,179.31. This recent buyback represents 0.02% of STMicroelectronics' issued share capital.

STMicroelectronics has stated that the repurchase was conducted to meet obligations from debt financial instruments that can be converted into equity. The acquired shares may be kept in treasury until they are needed for this purpose. If not used for such obligations, the shares may be utilized for any other lawful purpose as permitted under article 5(2) of the Market Abuse Regulation.

Following this repurchase, STMicroelectronics holds approximately 1.2% of its issued share capital in treasury shares, totaling 10,581,907 shares. The detailed transactions of the share buyback have been made available on the company's website, as required by regulatory obligations.

STMicroelectronics is a global semiconductor company with over 50,000 employees, involved in the design and production of a wide range of semiconductor technologies. They serve a diverse spectrum of electronics applications and are committed to becoming carbon neutral by 2027 for scopes 1, 2, and partially scope 3 emissions.

This information is based on a press release statement from STMicroelectronics.

InvestingPro Insights

STMicroelectronics N.V. (STM), a prominent player in the semiconductor industry, not only manages its finances prudently but also demonstrates a strong market position. According to InvestingPro, one of the InvestingPro Tips for STM indicates that the company holds more cash than debt on its balance sheet, providing it with financial flexibility. Additionally, with a history of maintaining dividend payments for 26 consecutive years, STM shows a commitment to returning value to its shareholders.

From a financial standpoint, InvestingPro Data reflects STM's solid performance. The company boasts a Price/Earnings (P/E) Ratio of 9.54, which further adjusts to 9.09 when looking at the last twelve months as of Q4 2023. This suggests that the stock may be reasonably valued compared to earnings. Moreover, the company's revenue growth over the last twelve months has been positive at 7.18%, indicating a robust top-line performance.

For investors looking for deeper insights and additional InvestingPro Tips, STM is covered extensively with additional tips available on InvestingPro. Currently, there are 11 more tips listed, providing a comprehensive analysis of the company's financial health and market position. Investors interested in these insights can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

The company's next earnings date is scheduled for April 25, 2024, which will provide further information on its financial trajectory. As STMicroelectronics continues to innovate and expand within the semiconductor industry, these financial metrics and insights from InvestingPro provide investors with a clearer picture of the company's current state and potential future performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.