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

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

Analyst Ratings Changes

STM has been the subject of a number of recent research reports. Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a research note on Sunday, April 26th. Weiss Ratings upgraded STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Craig Hallum upgraded STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, April 23rd. Morgan Stanley reissued an “overweight” rating on shares of STMicroelectronics in a report on Thursday. Finally, TD Cowen reissued a “hold” rating on shares of STMicroelectronics in a report on Friday, April 24th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.93.

STMicroelectronics Trading Down 0.4%

The stock has a fifty day moving average of $48.68 and a 200 day moving average of $35.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.34 and a current ratio of 3.31. The company has a market capitalization of $62.16 billion, a PE ratio of 432.55 and a beta of 1.89.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The company had revenue of $3.10 billion for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%. As a group, sell-side analysts predict that STMicroelectronics N.V. will post 1.09 earnings per share for the current fiscal year.

STMicroelectronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. STMicroelectronics’s dividend payout ratio (DPR) is 225.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in shares of STMicroelectronics by 82.3% in the first quarter. EverSource Wealth Advisors LLC now owns 5,293 shares of the semiconductor producer’s stock valued at $183,000 after purchasing an additional 2,390 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of STMicroelectronics by 5.6% in the first quarter. Empowered Funds LLC now owns 26,157 shares of the semiconductor producer’s stock valued at $904,000 after purchasing an additional 1,394 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of STMicroelectronics in the first quarter valued at $19,132,000. Quantinno Capital Management LP grew its holdings in shares of STMicroelectronics by 29.9% in the first quarter. Quantinno Capital Management LP now owns 277,370 shares of the semiconductor producer’s stock valued at $9,583,000 after purchasing an additional 63,786 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of STMicroelectronics in the first quarter valued at $2,600,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

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.