STMicroelectronics (NYSE:STM) Stock Sees Heavy Call Option Buying

STMicroelectronics N.V. (NYSE:STM) was the target of some unusual options trading activity on Friday. Stock traders bought 35,790 call options on the stock. This is an increase of 115% compared to the average daily volume of 16,663 call options.

Analysts Set New Price Targets

Several research analysts have issued reports on STM shares. Susquehanna lifted their price target on shares of STMicroelectronics from $60.00 to $75.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. UBS Group reiterated a “buy” rating on shares of STMicroelectronics in a research report on Friday, October 30th. Berenberg Bank reissued a “buy” rating on shares of STMicroelectronics in a research note on Wednesday, September 9th. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a report on Wednesday, October 21st. Finally, Mizuho set a $70.00 target price on STMicroelectronics in a research report on Thursday, October 29th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $75.06.

Institutional Investors Weigh In On STMicroelectronics

Hedge funds have recently bought and sold shares of the business. Continuum Advisory LLC purchased a new position in STMicroelectronics during the 2nd quarter valued at about $34,000. REAP Financial Group LLC lifted its position in shares of STMicroelectronics by 171.4% in the third quarter. REAP Financial Group LLC now owns 475 shares of the semiconductor producer’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of STMicroelectronics in the second quarter worth approximately $37,000. Bogart Wealth LLC boosted its holdings in shares of STMicroelectronics by 6,000.0% during the third quarter. Bogart Wealth LLC now owns 610 shares of the semiconductor producer’s stock worth $33,000 after purchasing an additional 600 shares during the period. Finally, MCF Advisors LLC acquired a new stake in shares of STMicroelectronics during the second quarter worth approximately $57,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Stock Up 0.6%

NYSE:STM traded up $0.29 during trading hours on Friday, hitting $46.75. 9,681,385 shares of the stock traded hands, compared to its average volume of 10,213,138. The firm has a 50 day moving average price of $49.39 and a 200 day moving average price of $50.59. The firm has a market cap of $41.99 billion, a price-to-earnings ratio of 83.47 and a beta of 2.00. STMicroelectronics has a fifty-two week low of $21.11 and a fifty-two week high of $81.42. The company has a current ratio of 3.13, a quick ratio of 2.30 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, October 29th. The semiconductor producer reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). STMicroelectronics had a return on equity of 4.71% and a net margin of 3.80%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.72 billion. Equities research analysts anticipate that STMicroelectronics will post 1.25 earnings per share for the current year.

STMicroelectronics Company Profile

STMicroelectronics is a global semiconductor company that designs, develops and manufactures chips and related products for customers in a range of industries. Its portfolio includes microcontrollers, analog and mixed-signal integrated circuits, power semiconductors, sensors, and microelectromechanical systems (MEMS). The company’s products are used in automotive systems, industrial equipment, communications devices, computers and consumer electronics. Its offerings support applications such as vehicle control and safety, factory automation, power management, and motion and environmental sensing.