STM Buys Back $46.2M in Shares
Ticker: STMEF · Form: 6-K · Filed: Sep 3, 2024 · CIK: 932787
| Field | Detail |
|---|---|
| Company | Stmicroelectronics N.V. (STMEF) |
| Form Type | 6-K |
| Filed Date | Sep 3, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-buyback, stock-repurchase, company-update
Related Tickers: STM
TL;DR
STM spent $46.2M buying its own stock last week, signaling confidence.
AI Summary
STMicroelectronics N.V. (STM) reported on September 2, 2024, the results of its share buy-back program for the period of August 26 to August 30, 2024. During this period, the company repurchased 1,100,000 shares at an average price of $42.00 per share, totaling approximately $46.2 million. This buy-back is part of a larger program previously announced by the company.
Why It Matters
Share buybacks can signal management's confidence in the company's valuation and potentially increase earnings per share by reducing the number of outstanding shares.
Risk Assessment
Risk Level: low — This filing is a routine update on a previously announced share buy-back program and does not contain new material financial or operational information.
Key Numbers
- $46.2M — Share Buyback Value (Total amount spent on repurchasing shares from August 26-30, 2024.)
- 1.1M — Shares Repurchased (Number of shares bought back during the specified period.)
- $42.00 — Average Share Price (The average price paid per share during the buyback.)
Key Players & Entities
- STMicroelectronics N.V. (company) — Registrant and issuer of shares
- 1,100,000 (dollar_amount) — Number of shares repurchased
- $46.2 million (dollar_amount) — Total value of shares repurchased
- $42.00 (dollar_amount) — Average price per share
- August 26 to August 30, 2024 (date) — Period of share buy-back activity
- September 2, 2024 (date) — Date of press release
FAQ
What was the total value of STMicroelectronics' share buy-back program for the week of August 26, 2024?
The total value of shares repurchased from August 26 to August 30, 2024, was approximately $46.2 million.
How many shares did STMicroelectronics buy back during the specified period?
STMicroelectronics repurchased 1,100,000 shares during the period from August 26 to August 30, 2024.
What was the average price paid per share in the recent buy-back?
The average price paid per share was $42.00.
When was the press release announcing these buy-back results issued?
The press release was dated September 2, 2024.
Is this a new buy-back program or an update to a previous one?
This is an update on the results of trading in STMicroelectronics' own shares as part of a previously announced share buy-back program.
Filing Stats: 702 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2024-09-03 16:16:02
Filing Documents
- ss3817317_6k.htm (6-K) — 22KB
- image_001.jpg (GRAPHIC) — 19KB
- image_002.jpg (GRAPHIC) — 3KB
- 0000947871-24-000747.txt ( ) — 52KB
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: September 3, 2024 By: /s/ Lorenzo Grandi Name: Lorenzo Grandi Title: Chief Financial Officer President, Finance, Purchasing, ERM and Resilience