STMicroelectronics (NYSE:STM) Trading Up 10.5% After Analyst Upgrade

STMicroelectronics N.V. (NYSE:STM)’s stock price was up 10.5% during trading on Thursday after Bank of America upgraded the stock from a neutral rating to a buy rating. Bank of America now has a $100.00 price target on the stock. STMicroelectronics traded as high as $78.25 and last traded at $78.1580. Approximately 17,551,440 shares traded hands during trading, an increase of 71% from the average daily volume of 10,241,349 shares. The stock had previously closed at $70.74.

A number of other equities research analysts have also recently commented on STM. TD Cowen reiterated a “hold” rating on shares of STMicroelectronics in a report on Friday, April 24th. UBS Group set a $100.00 price target on shares of STMicroelectronics in a report on Wednesday. Robert W. Baird set a $90.00 price target on shares of STMicroelectronics in a report on Friday, April 24th. Weiss Ratings upgraded shares of STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Finally, Susquehanna increased their price target on shares of STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a report on Monday, February 23rd. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.39.

Institutional Investors Weigh In On STMicroelectronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in shares of STMicroelectronics by 12.2% during the 4th quarter. Van ECK Associates Corp now owns 10,532,428 shares of the semiconductor producer’s stock worth $273,211,000 after acquiring an additional 1,145,426 shares during the last quarter. Morgan Stanley boosted its stake in shares of STMicroelectronics by 40.6% during the 4th quarter. Morgan Stanley now owns 6,156,161 shares of the semiconductor producer’s stock worth $159,691,000 after acquiring an additional 1,778,113 shares during the last quarter. Invesco Ltd. boosted its stake in shares of STMicroelectronics by 29.9% during the 4th quarter. Invesco Ltd. now owns 5,199,951 shares of the semiconductor producer’s stock worth $134,887,000 after acquiring an additional 1,196,018 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of STMicroelectronics by 43.9% during the 2nd quarter. Bank of America Corp DE now owns 4,348,569 shares of the semiconductor producer’s stock worth $132,240,000 after acquiring an additional 1,326,020 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of STMicroelectronics by 19.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,990,874 shares of the semiconductor producer’s stock worth $112,782,000 after acquiring an additional 641,327 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Up 10.5%

The company’s 50 day moving average price is $55.47 and its two-hundred day moving average price is $38.47. The firm has a market cap of $70.20 billion, a PE ratio of 488.52 and a beta of 1.94. The company has a current ratio of 3.31, a quick ratio of 2.34 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last issued 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, equities research analysts expect that STMicroelectronics N.V. will post 1.17 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 22nd. STMicroelectronics’s dividend payout ratio (DPR) is currently 187.50%.

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.