STMicroelectronics (NYSE:STM) Stock Price Up 2% – Here’s What Happened

STMicroelectronics N.V. (NYSE:STM)’s share price rose 2% during mid-day trading on Friday . The stock traded as high as $68.14 and last traded at $66.9880. Approximately 7,539,156 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 9,557,570 shares. The stock had previously closed at $65.66.

Analysts Set New Price Targets

STM has been the subject of several recent research reports. Robert W. Baird set a $90.00 price objective on STMicroelectronics in a research note on Friday, April 24th. Mizuho increased their target price on shares of STMicroelectronics from $56.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday. Susquehanna increased their target price on shares of STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a research report on Monday, February 23rd. Citigroup reissued a “buy” rating on shares of STMicroelectronics in a research report on Sunday, April 26th. Finally, TD Cowen reissued a “hold” rating on shares of STMicroelectronics in a research report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.93.

STMicroelectronics Price Performance

The firm has a market cap of $60.17 billion, a price-to-earnings ratio of 418.70 and a beta of 1.89. The business’s 50-day simple moving average is $44.47 and its two-hundred day simple moving average is $33.67. 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 released its 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 during the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. As a group, research analysts expect that STMicroelectronics N.V. will post 1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

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

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.