STMicroelectronics (NYSE:STM) Trading Up 1.7% – Still a Buy?

STMicroelectronics N.V. (NYSE:STM) was up 1.7% during trading on Thursday . The company traded as high as $65.31 and last traded at $64.4650. Approximately 11,712,945 shares traded 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.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on STM. Morgan Stanley upgraded STMicroelectronics from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of STMicroelectronics in a research report on Friday. Mizuho set a $48.00 price target on STMicroelectronics and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a research report on Sunday, April 26th. Finally, Weiss Ratings cut STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.07.

STMicroelectronics Stock Down 4.7%

The business has a fifty day simple moving average of $42.04 and a 200 day simple moving average of $32.54. The firm has a market cap of $55.11 billion, a price-to-earnings 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 announced its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%.The business had revenue of $3.10 billion during the quarter. As a group, equities analysts forecast that STMicroelectronics N.V. will post 1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in shares of STMicroelectronics by 12.2% in the fourth quarter. Van ECK Associates Corp now owns 10,532,428 shares of the semiconductor producer’s stock valued at $273,211,000 after purchasing an additional 1,145,426 shares during the last quarter. Morgan Stanley boosted its position in shares of STMicroelectronics by 40.6% during the fourth quarter. Morgan Stanley now owns 6,156,161 shares of the semiconductor producer’s stock worth $159,691,000 after buying an additional 1,778,113 shares during the period. Invesco Ltd. boosted its position in shares of STMicroelectronics by 29.9% during the fourth quarter. Invesco Ltd. now owns 5,199,951 shares of the semiconductor producer’s stock worth $134,887,000 after buying an additional 1,196,018 shares during the period. Bank of America Corp DE boosted its position in shares of STMicroelectronics by 43.9% during the second quarter. Bank of America Corp DE now owns 4,348,569 shares of the semiconductor producer’s stock worth $132,240,000 after buying an additional 1,326,020 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in STMicroelectronics by 19.1% in the third quarter. JPMorgan Chase & Co. now owns 3,990,874 shares of the semiconductor producer’s stock valued at $112,782,000 after purchasing an additional 641,327 shares during the period. 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.