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

STMicroelectronics N.V. (NYSE:STM)’s share price was up 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 changed hands during mid-day trading, an increase of 4% from the average daily volume of 9,662,513 shares. The stock had previously closed at $67.75.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Susquehanna boosted their price objective 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research report on Friday, May 15th. Robert W. Baird set a $90.00 price objective on shares of STMicroelectronics in a research report on Friday, April 24th. Morgan Stanley restated an “overweight” rating on shares of STMicroelectronics in a research report on Thursday. Finally, TD Cowen restated 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, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, STMicroelectronics has an average rating of “Moderate Buy” and an average price target of $51.93.

STMicroelectronics Stock Up 2.6%

The company has a current ratio of 3.31, a quick ratio of 2.34 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $62.41 billion, a price-to-earnings ratio of 434.28 and a beta of 1.89. The firm’s 50 day simple moving average is $47.25 and its 200-day simple moving average is $34.92.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share 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 for the quarter. On average, sell-side analysts anticipate that STMicroelectronics N.V. will post 1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

A number of large investors have recently added to or reduced their stakes in STM. ABC Arbitrage SA grew its position in shares of 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. grew its position in shares of 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 grew its position in shares of 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 grew its position in shares of 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 acquired a new stake in shares of STMicroelectronics during the fourth quarter worth approximately $2,335,000. 5.05% of the stock is owned by institutional investors and hedge funds.

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.