STMicroelectronics (NYSE:STM) Shares Up 9.6% – Here’s Why

STMicroelectronics N.V. (NYSE:STM)’s stock price was up 9.6% during trading on Wednesday . The company traded as high as $63.73 and last traded at $63.4960. Approximately 16,806,486 shares traded hands during mid-day trading, an increase of 77% from the average daily volume of 9,486,521 shares. The stock had previously closed at $57.93.

Analysts Set New Price Targets

A number of analysts have issued reports on STM shares. TD Cowen reiterated a “hold” rating on shares of STMicroelectronics in a research note on Friday, April 24th. Citigroup restated a “buy” rating on shares of STMicroelectronics in a research note on Sunday, April 26th. Mizuho set a $48.00 price objective on shares of STMicroelectronics and gave the company an “outperform” rating in a research note on Thursday, April 16th. Weiss Ratings cut shares of STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Finally, Susquehanna increased their target price on shares of STMicroelectronics from $35.00 to $40.00 and gave the stock a “positive” rating in a research report on Monday, February 23rd. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, STMicroelectronics currently has an average rating of “Moderate Buy” and a consensus price target of $49.07.

STMicroelectronics Stock Performance

The stock’s 50-day moving average price is $40.23 and its 200 day moving average price is $31.79. 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 $57.03 billion, a P/E ratio of 396.87 and a beta of 1.89.

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. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. The business had revenue of $3.10 billion during the quarter. As a group, research analysts expect 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 STM. Morgan Stanley lifted its position 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 purchasing an additional 1,778,113 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of STMicroelectronics during the fourth quarter worth approximately $42,731,000. Invesco Ltd. lifted its holdings in shares of STMicroelectronics by 67.1% during the third quarter. Invesco Ltd. now owns 4,003,933 shares of the semiconductor producer’s stock worth $113,151,000 after buying an additional 1,608,029 shares during the last quarter. Defiance ETFs LLC bought a new stake in shares of STMicroelectronics in the fourth quarter valued at approximately $39,545,000. Finally, Two Sigma Investments LP grew its stake in shares of STMicroelectronics by 135.0% in 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 last quarter. 5.05% of the stock is 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.