STMicroelectronics (NYSE:STM) Shares Gap Up Following Analyst Upgrade

STMicroelectronics N.V. (NYSE:STM)’s stock price gapped up prior to trading on Wednesday after Mizuho raised their price target on the stock from $56.00 to $68.00. The stock had previously closed at $61.23, but opened at $63.77. Mizuho currently has an outperform rating on the stock. STMicroelectronics shares last traded at $63.6280, with a volume of 2,002,480 shares trading hands.

STM has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of STMicroelectronics in a research report on Friday. Citigroup reissued a “buy” rating on shares of STMicroelectronics in a research note on Sunday, April 26th. Morgan Stanley upgraded STMicroelectronics from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 26th. Robert W. Baird set a $90.00 target price on STMicroelectronics in a research note on Friday, April 24th. Finally, Susquehanna boosted their price target on STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a research note on Monday, February 23rd. Ten 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.93.

Hedge Funds Weigh In On STMicroelectronics

A number of institutional investors have recently modified their holdings of the company. Abound Wealth Management acquired a new stake in STMicroelectronics in the 4th quarter valued at $26,000. CIBC Private Wealth Group LLC raised its holdings in STMicroelectronics by 3,746.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock worth $26,000 after buying an additional 974 shares during the last quarter. Portus Wealth Advisors LLC acquired a new position in STMicroelectronics during the first quarter worth $32,000. Peterson Wealth Services lifted its stake in shares of STMicroelectronics by 3,086.5% in the third quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock valued at $33,000 after buying an additional 1,142 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of STMicroelectronics during the first quarter valued at about $45,000. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 2.34. The business’s fifty day moving average price is $43.19 and its 200-day moving average price is $33.10. The stock has a market capitalization of $57.16 billion, a price-to-earnings ratio of 395.89 and a beta of 1.89.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share for the quarter. The business had revenue of $3.10 billion for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. On average, 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.