STMicroelectronics Launches $1.1B Buyback Plan
Ticker: STMEF · Form: 6-K · Filed: Jun 21, 2024 · CIK: 932787
| Field | Detail |
|---|---|
| Company | Stmicroelectronics N.V. (STMEF) |
| Form Type | 6-K |
| Filed Date | Jun 21, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $1,100 million, $1,040 million, $989 million, $111 m, $43.08 |
| Sentiment | bullish |
Sentiment: bullish
Topics: share-buyback, capital-return, financial-update
Related Tickers: STM
TL;DR
STM just finished old buybacks and is launching a new $1.1B plan over 3 years. Buy time?
AI Summary
STMicroelectronics N.V. announced on June 21, 2024, the completion of its 2021 Share Buy-back Programs. Concurrently, the company launched a new 3-year Share Buy-Back Plan valued at $1,100 million, commencing in 2024.
Why It Matters
This significant share buyback program indicates management's confidence in the company's financial health and future prospects, potentially boosting shareholder value.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a share buyback program, which is a common corporate financial action.
Key Numbers
- $1,100 million — New Share Buy-Back Plan (Amount authorized for repurchase over three years.)
Key Players & Entities
- STMicroelectronics N.V. (company) — Registrant
- $1,100 million (dollar_amount) — New Share Buy-Back Plan value
- June 21, 2024 (date) — Announcement date
- 2021 (date) — Completion of prior buyback programs
- 2024 (date) — Start of new buyback plan
FAQ
What is the total value of the new Share Buy-Back Plan?
The new 3-year Share Buy-Back Plan is valued at $1,100 million.
When does the new Share Buy-Back Plan commence?
The new Share Buy-Back Plan commences in 2024.
What action was completed prior to the launch of the new plan?
The company announced the completion of its 2021 Share Buy-back Programs.
What is the duration of the new Share Buy-Back Plan?
The new Share Buy-Back Plan is a 3-year plan.
What form is this filing?
This filing is a Form 6-K, Report of Foreign Private Issuer.
Filing Stats: 1,320 words · 5 min read · ~4 pages · Grade level 12.1 · Accepted 2024-06-21 16:15:23
Key Financial Figures
- $1,100 million — ack Programs and launch of a new 3 Year $1,100 million Share Buy-Back Plan in 2024. PR N°
- $1,040 million — on of the 3Y share buy-back programs of $1,040 million (the "Completed Buy-Backs") i
- $989 million — oyee stock award plans, totalling up to $989 million; and (2) supporting the potential settl
- $111 m — ng convertible bonds, for approximately $111 million, at the NYSE closing price of Jun
- $43.08 — tock Exchange on June 18 th , 2024, was $43.08 and, at such price the current maximum
Filing Documents
- ss3540560_6k.htm (6-K) — 28KB
- image_001.jpg (GRAPHIC) — 45KB
- 0000947871-24-000575.txt ( ) — 91KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. STMicroelectronics N.V. Date: June 21, 2024 By: /s/ Lorenzo Grandi Name: Lorenzo Grandi Title: Chief Financial Officer President, Finance, Purchasing, ERM and Resilience