STMicroelectronics (NYSE:STM) Shares Up 2.6% – Still a Buy?

STMicroelectronics N.V. (NYSE:STM)’s stock price shot up 2.6% during trading on Thursday . The company traded as high as $70.20 and last traded at $69.4810. 10,065,098 shares traded hands during trading, an increase of 4% from the average session volume of 9,662,513 shares. The stock had previously closed at $67.75.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on STM. Robert W. Baird set a $90.00 target price on shares of STMicroelectronics in a research report on Friday, April 24th. Morgan Stanley restated an “overweight” rating on shares of STMicroelectronics in a research note on Thursday. Weiss Ratings upgraded shares of STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Citigroup restated a “buy” rating on shares of STMicroelectronics in a research note on Sunday, April 26th. Finally, Craig Hallum upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Thursday, April 23rd. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.93.

STMicroelectronics Trading Up 2.6%

The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The company has a market cap of $62.41 billion, a price-to-earnings ratio of 434.28 and a beta of 1.89. The company’s 50-day moving average is $47.25 and its 200 day moving average is $34.92.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share (EPS) 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%. Research analysts predict that STMicroelectronics N.V. will post 1.09 EPS for the current year.

Institutional Investors Weigh In On STMicroelectronics

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

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.