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

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

Analyst Ratings Changes

A number of research firms have issued reports on STM. Morgan Stanley upgraded STMicroelectronics from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 26th. Susquehanna increased their price target on STMicroelectronics from $35.00 to $40.00 and gave the stock a “positive” rating in a report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of STMicroelectronics in a report on Friday, May 15th. Weiss Ratings cut STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Finally, Craig Hallum upgraded STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, April 23rd. Ten equities 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.93.

STMicroelectronics Trading Up 2.0%

The business has a fifty day moving average of $44.47 and a 200-day moving average of $33.67. 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 company has a market capitalization of $60.17 billion, a P/E ratio of 418.70 and a beta of 1.89.

STMicroelectronics (NYSE:STM) last issued its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share (EPS) for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%.The company had revenue of $3.10 billion for the quarter. Analysts anticipate that STMicroelectronics N.V. will post 1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On STMicroelectronics

Several large investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in STMicroelectronics by 12.2% during the 4th quarter. Van ECK Associates Corp now owns 10,532,428 shares of the semiconductor producer’s stock valued at $273,211,000 after acquiring an additional 1,145,426 shares in the last quarter. Morgan Stanley lifted its stake in STMicroelectronics by 40.6% during the 4th quarter. Morgan Stanley now owns 6,156,161 shares of the semiconductor producer’s stock valued at $159,691,000 after acquiring an additional 1,778,113 shares in the last quarter. Invesco Ltd. lifted its stake in STMicroelectronics by 29.9% during the 4th quarter. Invesco Ltd. now owns 5,199,951 shares of the semiconductor producer’s stock valued at $134,887,000 after acquiring an additional 1,196,018 shares in the last quarter. Bank of America Corp DE lifted its stake in STMicroelectronics by 43.9% during the 2nd quarter. Bank of America Corp DE now owns 4,348,569 shares of the semiconductor producer’s stock valued at $132,240,000 after acquiring an additional 1,326,020 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in STMicroelectronics by 19.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,990,874 shares of the semiconductor producer’s stock valued at $112,782,000 after acquiring an additional 641,327 shares in the last quarter. 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.