STMicroelectronics (NYSE:STM) Trading Up 9.6% – Still a Buy?

STMicroelectronics N.V. (NYSE:STM)’s stock price was up 9.6% during trading on Wednesday . The company traded as high as $63.73 and last traded at $63.4960. Approximately 16,806,486 shares changed hands during trading, an increase of 77% from the average daily volume of 9,486,521 shares. The stock had previously closed at $57.93.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on STM shares. Craig Hallum raised shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Thursday, April 23rd. Mizuho set a $48.00 price target on shares of STMicroelectronics and gave the stock an “outperform” rating in a report on Thursday, April 16th. Citigroup reaffirmed a “buy” rating on shares of STMicroelectronics in a report on Sunday, April 26th. Weiss Ratings cut shares of STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Finally, TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.07.

STMicroelectronics Trading Down 4.7%

The stock’s fifty day simple moving average is $41.48 and its 200-day simple moving average is $32.34. The firm has a market cap of $55.11 billion, a PE ratio of 383.52 and a beta of 1.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 2.34.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share for the quarter. The firm had revenue of $3.10 billion for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. On average, sell-side analysts forecast that STMicroelectronics N.V. will post 1.09 earnings per share for the current year.

Institutional Trading of STMicroelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the business. ABC Arbitrage SA increased its stake in shares of STMicroelectronics by 378.6% in the third quarter. ABC Arbitrage SA now owns 620,238 shares of the semiconductor producer’s stock worth $17,528,000 after acquiring an additional 490,652 shares during the period. JPMorgan Chase & Co. increased its stake in shares of STMicroelectronics by 19.1% in the third quarter. JPMorgan Chase & Co. now owns 3,990,874 shares of the semiconductor producer’s stock worth $112,782,000 after acquiring an additional 641,327 shares during the period. Ingalls & Snyder LLC increased its stake in shares of STMicroelectronics by 38.1% in the third quarter. Ingalls & Snyder LLC now owns 337,427 shares of the semiconductor producer’s stock worth $9,536,000 after acquiring an additional 93,111 shares during the period. Penserra Capital Management LLC increased its stake in shares of STMicroelectronics by 43.4% in the third quarter. Penserra Capital Management LLC now owns 927,695 shares of the semiconductor producer’s stock worth $26,216,000 after acquiring an additional 280,615 shares during the period. Finally, Maxi Investments CY Ltd acquired a new stake in shares of STMicroelectronics in the fourth quarter worth $2,335,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

About STMicroelectronics

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.