STMicroelectronics (NYSE:STM) Hits New 52-Week High – Here’s Why

Shares of STMicroelectronics N.V. (NYSE:STM) hit a new 52-week high on Wednesday . The stock traded as high as $71.07 and last traded at $70.81, with a volume of 15485126 shares traded. The stock had previously closed at $66.86.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Mizuho boosted their target price on STMicroelectronics from $56.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Morgan Stanley raised STMicroelectronics from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 26th. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a research report on Friday, April 24th. Weiss Ratings cut STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Finally, Craig Hallum raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Thursday, April 23rd. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.93.

STMicroelectronics Stock Up 5.9%

The company has a current ratio of 3.31, a quick ratio of 2.34 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $63.60 billion, a PE ratio of 442.59 and a beta of 1.89. The business’s 50-day simple moving average is $46.56 and its 200-day simple moving average is $34.61.

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. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. The company had revenue of $3.10 billion during the quarter. As a group, equities research analysts anticipate that STMicroelectronics N.V. will post 1.09 EPS for the current fiscal year.

Institutional Trading of STMicroelectronics

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in STMicroelectronics by 82.3% during the first quarter. EverSource Wealth Advisors LLC now owns 5,293 shares of the semiconductor producer’s stock valued at $183,000 after acquiring an additional 2,390 shares in the last quarter. Empowered Funds LLC lifted its holdings in STMicroelectronics by 5.6% in the first quarter. Empowered Funds LLC now owns 26,157 shares of the semiconductor producer’s stock valued at $904,000 after acquiring an additional 1,394 shares during the period. The Manufacturers Life Insurance Company acquired a new position in STMicroelectronics in the first quarter valued at approximately $19,132,000. Quantinno Capital Management LP grew its stake in shares of STMicroelectronics by 29.9% during the 1st quarter. Quantinno Capital Management LP now owns 277,370 shares of the semiconductor producer’s stock worth $9,583,000 after purchasing an additional 63,786 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of STMicroelectronics during the 1st quarter worth approximately $2,600,000. 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.