STMicroelectronics (NYSE:STM) Trading Up 6.2% Following Analyst Upgrade

Shares of STMicroelectronics N.V. (NYSE:STM) shot up 6.2% during trading on Wednesday after Mizuho raised their price target on the stock from $56.00 to $68.00. Mizuho currently has an outperform rating on the stock. STMicroelectronics traded as high as $65.06 and last traded at $65.0230. 10,173,729 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 9,594,368 shares. The stock had previously closed at $61.23.

Several other equities research analysts have also weighed in on the stock. Weiss Ratings lowered shares of STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of STMicroelectronics in a report on Friday. Robert W. Baird set a $90.00 target price on STMicroelectronics in a report on Friday, April 24th. Citigroup reissued a “buy” rating on shares of STMicroelectronics in a research report on Sunday, April 26th. Finally, Morgan Stanley raised STMicroelectronics from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 26th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.93.

Hedge Funds Weigh In On STMicroelectronics

Several hedge funds have recently modified their holdings of the stock. Midwest Trust Co grew its holdings in shares of STMicroelectronics by 0.8% in the 1st quarter. Midwest Trust Co now owns 54,447 shares of the semiconductor producer’s stock valued at $1,881,000 after acquiring an additional 406 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of STMicroelectronics by 5.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,062 shares of the semiconductor producer’s stock worth $348,000 after purchasing an additional 479 shares during the last quarter. Inspire Investing LLC increased its position in shares of STMicroelectronics by 5.0% during the 1st quarter. Inspire Investing LLC now owns 10,261 shares of the semiconductor producer’s stock worth $355,000 after purchasing an additional 488 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of STMicroelectronics by 13.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,405 shares of the semiconductor producer’s stock worth $115,000 after purchasing an additional 509 shares during the last quarter. Finally, Earnest Partners LLC increased its position in shares of STMicroelectronics by 3.2% during the 4th quarter. Earnest Partners LLC now owns 17,282 shares of the semiconductor producer’s stock worth $448,000 after purchasing an additional 534 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.34 and a current ratio of 3.31. The company has a 50-day simple moving average of $43.19 and a two-hundred day simple moving average of $33.10. The stock has a market cap of $58.40 billion, a price-to-earnings ratio of 406.42 and a beta of 1.89.

STMicroelectronics (NYSE:STM) last issued its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The company had revenue of $3.10 billion during the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%. As a group, equities research analysts forecast that STMicroelectronics N.V. will post 1.09 EPS for the current year.

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.