STMicroelectronics (NYSE:STM) Hits New 52-Week High – Here’s Why

STMicroelectronics N.V. (NYSE:STM) hit a new 52-week high during trading on Wednesday . The company traded as high as $71.07 and last traded at $70.81, with a volume of 15485126 shares traded. The stock had previously closed at $66.86.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Susquehanna raised their price objective on shares of STMicroelectronics from $35.00 to $40.00 and gave the stock a “positive” rating in a research note on Monday, February 23rd. Morgan Stanley raised shares of STMicroelectronics from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 26th. Weiss Ratings cut shares of STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Mizuho increased their price target on STMicroelectronics from $56.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Finally, Craig Hallum upgraded STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Thursday, April 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’s stock. Based on data from MarketBeat.com, STMicroelectronics has a consensus rating of “Moderate Buy” and a consensus price target of $51.93.

STMicroelectronics Stock Up 5.9%

The company has a market cap of $63.60 billion, a PE ratio of 442.59 and a beta of 1.89. The business has a 50-day simple moving average of $46.56 and a 200-day simple moving average of $34.61. 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 released its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%.The business had revenue of $3.10 billion for the quarter. Equities research analysts anticipate that STMicroelectronics N.V. will post 1.09 EPS for the current year.

Hedge Funds Weigh In On STMicroelectronics

Institutional investors have recently added to or reduced their stakes in the stock. ABC Arbitrage SA lifted its position in STMicroelectronics by 378.6% during the third quarter. ABC Arbitrage SA now owns 620,238 shares of the semiconductor producer’s stock worth $17,528,000 after buying an additional 490,652 shares in the last quarter. JPMorgan Chase & Co. lifted its position in STMicroelectronics by 19.1% during the third quarter. JPMorgan Chase & Co. now owns 3,990,874 shares of the semiconductor producer’s stock worth $112,782,000 after buying an additional 641,327 shares in the last quarter. Ingalls & Snyder LLC lifted its position in STMicroelectronics by 38.1% during the third quarter. Ingalls & Snyder LLC now owns 337,427 shares of the semiconductor producer’s stock worth $9,536,000 after buying an additional 93,111 shares in the last quarter. Penserra Capital Management LLC lifted its position in STMicroelectronics by 43.4% during the third quarter. Penserra Capital Management LLC now owns 927,695 shares of the semiconductor producer’s stock worth $26,216,000 after buying an additional 280,615 shares in the last quarter. Finally, Maxi Investments CY Ltd purchased a new position in STMicroelectronics during the fourth quarter worth approximately $2,335,000. Hedge funds and other 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.