STMicroelectronics (NYSE:STM) Shares Up 9.6% – Here’s Why

STMicroelectronics N.V. (NYSE:STM) rose 9.6% during mid-day trading on Wednesday . The stock 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.

Analysts Set New Price Targets

STM has been the subject of several recent analyst reports. TD Cowen reiterated a “hold” rating on shares of STMicroelectronics in a report on Friday, April 24th. Mizuho set a $48.00 price target on shares of STMicroelectronics and gave the company an “outperform” rating in a report on Thursday, April 16th. Weiss Ratings downgraded shares of STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Susquehanna lifted their price objective on shares of STMicroelectronics from $35.00 to $40.00 and gave the stock a “positive” rating in a research report on Monday, February 23rd. Finally, Robert W. Baird set a $90.00 target price on shares of STMicroelectronics in a research note on Friday, April 24th. Ten 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.07.

STMicroelectronics Stock Up 9.6%

The business has a fifty day moving average price of $40.23 and a two-hundred day moving average price of $31.79. 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 cap of $57.03 billion, a price-to-earnings ratio of 396.87 and a beta of 1.89.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. The business had revenue of $3.10 billion during the quarter. On average, equities analysts predict that STMicroelectronics N.V. will post 1.09 earnings per share for the current year.

Hedge Funds Weigh In On STMicroelectronics

Several institutional investors and hedge funds have recently modified their holdings of STM. Portus Wealth Advisors LLC purchased a new stake in shares of STMicroelectronics during the first quarter worth $32,000. CIBC Private Wealth Group LLC increased its position in STMicroelectronics by 3,746.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock worth $26,000 after purchasing an additional 974 shares during the last quarter. Abound Wealth Management acquired a new position in STMicroelectronics in the 4th quarter worth about $26,000. Peterson Wealth Services raised its stake in shares of STMicroelectronics by 3,086.5% during the 3rd quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock worth $33,000 after purchasing an additional 1,142 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of STMicroelectronics during the 3rd quarter worth about $52,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

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.