STMicroelectronics (NYSE:STM) Trading Up 4% – Here’s Why

STMicroelectronics N.V. (NYSE:STM)’s stock price was up 4% during mid-day trading on Thursday . The company traded as high as $75.87 and last traded at $74.7220. Approximately 10,996,370 shares changed hands during trading, an increase of 6% from the average daily volume of 10,363,470 shares. The stock had previously closed at $71.84.

Analyst Upgrades and Downgrades

STM has been the topic of several analyst reports. Craig Hallum raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a report on Thursday, June 11th. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a report on Friday, April 24th. Morgan Stanley reiterated an “overweight” rating on shares of STMicroelectronics in a research report on Thursday, May 28th. Finally, UBS Group set a $100.00 target price on shares of STMicroelectronics in a research note on Wednesday, June 10th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.39.

STMicroelectronics Stock Performance

The company has a market cap of $64.11 billion, a P/E ratio of 446.12 and a beta of 1.94. The company has a 50 day moving average price of $64.70 and a 200-day moving average price of $42.74. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data 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%. Equities analysts expect that STMicroelectronics N.V. will post 1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STM. Morgan Stanley boosted its stake in STMicroelectronics by 40.6% during the 4th quarter. Morgan Stanley now owns 6,156,161 shares of the semiconductor producer’s stock valued at $159,691,000 after purchasing an additional 1,778,113 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of STMicroelectronics in the fourth quarter valued at $42,731,000. Invesco Ltd. lifted its holdings in shares of STMicroelectronics by 67.1% in the third quarter. Invesco Ltd. now owns 4,003,933 shares of the semiconductor producer’s stock valued at $113,151,000 after buying an additional 1,608,029 shares during the period. Defiance ETFs LLC bought a new position in STMicroelectronics during the fourth quarter valued at about $39,545,000. Finally, Two Sigma Investments LP grew its holdings in STMicroelectronics by 135.0% during the third quarter. Two Sigma Investments LP now owns 2,322,540 shares of the semiconductor producer’s stock worth $65,635,000 after acquiring an additional 1,334,192 shares during the period. Institutional investors own 5.05% of the company’s stock.

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.