STMicroelectronics (NYSE:STM) Stock Price Up 4.5% on Analyst Upgrade

STMicroelectronics N.V. (NYSE:STM)’s stock price traded up 4.5% during mid-day trading on Monday after Barclays upgraded the stock from an underweight rating to an equal weight rating. The company traded as high as $74.83 and last traded at $74.6260. 9,984,066 shares traded hands during trading, a decline of 3% from the average daily volume of 10,340,122 shares. The stock had previously closed at $71.42.

A number of other equities research analysts have also issued reports on the stock. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a report on Friday, April 24th. UBS Group set a $100.00 price objective on shares of STMicroelectronics in a research report on Wednesday, June 10th. Bank of America raised shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, June 10th. Morgan Stanley restated an “overweight” rating on shares of STMicroelectronics in a research report on Thursday, May 28th. Finally, Mizuho increased their target price on shares of STMicroelectronics from $68.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.39.

Hedge Funds Weigh In On STMicroelectronics

Large investors have recently added to or reduced their stakes in the company. Abound Wealth Management bought a new position in shares of STMicroelectronics during the 4th quarter worth approximately $26,000. CIBC Private Wealth Group LLC raised its stake in STMicroelectronics by 3,746.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock worth $26,000 after acquiring an additional 974 shares during the last quarter. Portus Wealth Advisors LLC acquired a new stake in STMicroelectronics during the 1st quarter worth about $32,000. Public Employees Retirement System of Ohio acquired a new stake in STMicroelectronics during the 1st quarter worth about $45,000. Finally, Advisory Services Network LLC purchased a new stake in STMicroelectronics during the 3rd quarter valued at about $52,000. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Stock Up 4.5%

The business has a fifty day moving average price of $64.70 and a two-hundred day moving average price of $42.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 2.34. The firm has a market capitalization of $67.03 billion, a price-to-earnings ratio of 466.44 and a beta of 1.94.

STMicroelectronics (NYSE:STM) last released its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%.The firm had revenue of $3.10 billion during the quarter. On average, equities analysts expect that STMicroelectronics N.V. will post 1.17 earnings per share for the current year.

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.