STMicroelectronics (NYSE:STM) Trading Up 6.2% Following Analyst Upgrade

Shares of STMicroelectronics N.V. (NYSE:STM) were up 6.2% during trading on Wednesday after Mizuho raised their price target on the stock from $56.00 to $68.00. Mizuho currently has an outperform rating on the stock. STMicroelectronics traded as high as $65.06 and last traded at $65.0230. Approximately 10,173,729 shares changed hands during trading, an increase of 6% from the average daily volume of 9,594,368 shares. The stock had previously closed at $61.23.

Several other equities analysts have also recently commented on the stock. Susquehanna boosted their price target on shares of STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of STMicroelectronics in a research report on Friday. Robert W. Baird set a $90.00 target price on STMicroelectronics in a research report on Friday, April 24th. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a research report on Friday, April 24th. Finally, Weiss Ratings lowered STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, STMicroelectronics presently has an average rating of “Moderate Buy” and an average target price of $51.93.

Hedge Funds Weigh In On STMicroelectronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abound Wealth Management acquired a new position in shares of STMicroelectronics in the fourth quarter valued at $26,000. CIBC Private Wealth Group LLC raised its stake in shares of STMicroelectronics by 3,746.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock valued at $26,000 after acquiring an additional 974 shares during the last quarter. Portus Wealth Advisors LLC bought a new stake in STMicroelectronics during the 1st quarter worth about $32,000. Peterson Wealth Services grew its holdings in STMicroelectronics by 3,086.5% during the 3rd quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock worth $33,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of STMicroelectronics during the first quarter worth $45,000. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Trading Up 6.2%

The company has a market capitalization of $58.40 billion, a price-to-earnings ratio of 406.42 and a beta of 1.89. 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 business’s 50-day simple moving average is $43.19 and its 200-day simple moving average is $33.10.

STMicroelectronics (NYSE:STM) last announced 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 firm had revenue of $3.10 billion for the quarter. On average, research analysts expect that STMicroelectronics N.V. will post 1.09 earnings per share for the current fiscal year.

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.