STMicroelectronics (NYSE:STM) Shares Gap Up Following Analyst Upgrade

STMicroelectronics N.V. (NYSE:STM) shares gapped up before the market opened on Wednesday after Mizuho raised their price target on the stock from $56.00 to $68.00. The stock had previously closed at $61.23, but opened at $63.77. Mizuho currently has an outperform rating on the stock. STMicroelectronics shares last traded at $63.6280, with a volume of 2,002,480 shares.

STM has been the subject of a number of other research reports. Citigroup reaffirmed a “buy” rating on shares of STMicroelectronics in a report on Sunday, April 26th. Robert W. Baird set a $90.00 price objective on shares of STMicroelectronics in a research report on Friday, April 24th. Weiss Ratings cut STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. TD Cowen reiterated a “hold” rating on shares of STMicroelectronics in a research note on Friday, April 24th. Finally, Morgan Stanley raised STMicroelectronics from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 26th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and an average target price of $51.93.

Institutional Investors Weigh In On STMicroelectronics

A number of institutional investors have recently added to or reduced their stakes in STM. Abound Wealth Management bought a new position in shares of STMicroelectronics during the fourth quarter valued at $26,000. CIBC Private Wealth Group LLC increased its holdings in 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 purchasing an additional 974 shares during the period. Portus Wealth Advisors LLC acquired a new stake in STMicroelectronics in the first quarter valued at $32,000. Peterson Wealth Services raised its position 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 purchasing an additional 1,142 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in STMicroelectronics during the 1st quarter worth $45,000. 5.05% of the stock is owned by institutional investors.

STMicroelectronics Price Performance

The company has a fifty day simple moving average of $43.19 and a 200 day simple moving average of $33.10. The stock has a market capitalization of $57.16 billion, a price-to-earnings ratio of 395.89 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.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data 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 during the quarter. Equities research analysts forecast that STMicroelectronics N.V. will post 1.09 EPS for the current fiscal 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.