STMicroelectronics (NYSE:STM) Trading Up 4% – Here’s Why

STMicroelectronics N.V. (NYSE:STM) was up 4% during mid-day trading on Thursday . The company traded as high as $75.87 and last traded at $74.7220. Approximately 10,996,370 shares traded hands during trading, an increase of 6% from the average session volume of 10,363,470 shares. The stock had previously closed at $71.84.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Cowen reiterated a “hold” rating on shares of STMicroelectronics in a research report on Friday, April 24th. UBS Group set a $100.00 target price on STMicroelectronics in a research note on Wednesday, June 10th. Robert W. Baird set a $90.00 target price on STMicroelectronics in a report on Friday, April 24th. Bank of America raised STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, June 10th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of STMicroelectronics in a research report on Thursday, May 28th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, STMicroelectronics currently has a consensus rating of “Moderate Buy” and an average price target of $64.39.

STMicroelectronics Stock Performance

The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The stock has a market cap of $67.11 billion, a price-to-earnings ratio of 467.04 and a beta of 1.94. The company’s 50-day simple moving average is $63.41 and its 200-day simple moving average is $42.20.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $3.10 billion for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%. Analysts predict that STMicroelectronics N.V. will post 1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Portus Wealth Advisors LLC acquired a new stake in STMicroelectronics during the 1st quarter worth about $32,000. CIBC Private Wealth Group LLC boosted its holdings in shares of STMicroelectronics by 3,746.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock worth $26,000 after buying an additional 974 shares during the period. Abound Wealth Management acquired a new position in shares of STMicroelectronics in the fourth quarter worth about $26,000. Public Employees Retirement System of Ohio purchased a new position in shares of STMicroelectronics in the first quarter worth approximately $45,000. Finally, Advisory Services Network LLC purchased a new position in shares of STMicroelectronics in the third quarter worth approximately $52,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Company Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.