STMicroelectronics (NYSE:STM) Stock Sees Unusually High Call Option Buying

STMicroelectronics N.V. (NYSE:STM) was the target of some unusual options trading activity on Friday. Traders acquired 35,790 call options on the stock. This represents an increase of approximately 115% compared to the average volume of 16,663 call options.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a report on Wednesday, September 2nd. Barclays set a $60.00 target price on STMicroelectronics in a research report on Friday, July 24th. Wall Street Zen lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Morningstar upgraded STMicroelectronics to a “buy” rating in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of STMicroelectronics in a research report on Wednesday, October 21st. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.06.

STMicroelectronics Stock Performance

NYSE:STM traded up $0.29 during trading hours on Friday, reaching $46.75. 9,681,385 shares of the stock were exchanged, compared to its average volume of 10,213,138. The stock has a market capitalization of $41.99 billion, a P/E ratio of 83.47 and a beta of 2.00. The firm has a 50 day simple moving average of $49.39 and a 200-day simple moving average of $50.59. The company has a quick ratio of 2.30, a current ratio of 3.13 and a debt-to-equity ratio of 0.16. STMicroelectronics has a 52 week low of $21.11 and a 52 week high of $81.42.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, October 29th. The semiconductor producer reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). STMicroelectronics had a net margin of 3.80% and a return on equity of 4.71%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.72 billion. As a group, sell-side analysts forecast that STMicroelectronics will post 1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On STMicroelectronics

Large investors have recently added to or reduced their stakes in the stock. Situational Awareness LP acquired a new stake in shares of STMicroelectronics in the second quarter valued at $584,344,000. Militia Capital Management LLC bought a new stake in STMicroelectronics in the first quarter worth about $3,455,000. Engineers Gate Manager LP bought a new stake in STMicroelectronics in the second quarter worth about $7,407,000. Generate Investment Management Ltd acquired a new stake in STMicroelectronics in the 3rd quarter valued at about $15,857,000. Finally, QRG Capital Management Inc. lifted its holdings in STMicroelectronics by 173.0% in the 2nd quarter. QRG Capital Management Inc. now owns 39,103 shares of the semiconductor producer’s stock valued at $2,928,000 after acquiring an additional 24,780 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

About STMicroelectronics

STMicroelectronics is a global semiconductor company that designs, develops and manufactures chips and related products for customers in a range of industries. Its portfolio includes microcontrollers, analog and mixed-signal integrated circuits, power semiconductors, sensors, and microelectromechanical systems (MEMS). The company’s products are used in automotive systems, industrial equipment, communications devices, computers and consumer electronics. Its offerings support applications such as vehicle control and safety, factory automation, power management, and motion and environmental sensing.