STMicroelectronics (NYSE:STM) Stock Price Up 1.7% – Here’s Why

STMicroelectronics N.V. (NYSE:STM) shares rose 1.7% on Thursday . The company traded as high as $65.31 and last traded at $64.4650. Approximately 11,712,945 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 9,530,153 shares. The stock had previously closed at $63.39.

Analysts Set New Price Targets

STM has been the subject of several research analyst reports. Morgan Stanley upgraded shares of STMicroelectronics from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 26th. Susquehanna upped their price objective on STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a research note on Monday, February 23rd. TD Cowen reissued a “hold” rating on shares of STMicroelectronics in a research report on Friday, April 24th. Weiss Ratings lowered STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Finally, Craig Hallum raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, April 23rd. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.07.

STMicroelectronics Stock Up 1.7%

The stock has a fifty day moving average price of $40.83 and a 200 day moving average price of $32.06. The stock has a market capitalization of $57.90 billion, a P/E ratio of 402.93 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 issued its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The business 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%. On average, research analysts forecast that STMicroelectronics N.V. will post 1.09 earnings per share for the current year.

Institutional Trading of STMicroelectronics

Several institutional investors and hedge funds have recently modified their holdings of the business. Amundi purchased a new position in shares of STMicroelectronics during the first quarter worth about $947,000. AQR Capital Management LLC lifted its position in STMicroelectronics by 182.8% during the first quarter. AQR Capital Management LLC now owns 32,094 shares of the semiconductor producer’s stock valued at $705,000 after purchasing an additional 20,745 shares during the last quarter. Legal & General Group Plc bought a new stake in STMicroelectronics during the second quarter valued at approximately $119,000. M&T Bank Corp purchased a new position in STMicroelectronics in the 2nd quarter worth approximately $303,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of STMicroelectronics by 79.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,883 shares of the semiconductor producer’s stock worth $148,000 after buying an additional 2,156 shares during the last quarter. Hedge funds and other institutional investors 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.