STMicroelectronics (NYSE:STM) Trading Up 10.5% After Analyst Upgrade

STMicroelectronics N.V. (NYSE:STM) was up 10.5% during mid-day trading on Thursday after Bank of America upgraded the stock from a neutral rating to a buy rating. Bank of America now has a $100.00 price target on the stock. STMicroelectronics traded as high as $78.25 and last traded at $78.1580. Approximately 17,551,440 shares changed hands during trading, an increase of 71% from the average daily volume of 10,241,349 shares. The stock had previously closed at $70.74.

Several other analysts have also issued reports on STM. Susquehanna upped their price target on shares of STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a research report on Monday, February 23rd. Mizuho upped their price objective 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. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a research note on Friday, April 24th. UBS Group set a $100.00 price objective on shares of STMicroelectronics in a research note on Wednesday. Finally, Weiss Ratings raised shares of STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and a consensus target price of $64.39.

Hedge Funds Weigh In On STMicroelectronics

Institutional investors have recently bought and sold shares of the stock. Amundi bought a new position in shares of STMicroelectronics during the first quarter valued at approximately $947,000. AQR Capital Management LLC increased its stake in shares of STMicroelectronics by 182.8% during the first quarter. AQR Capital Management LLC now owns 32,094 shares of the semiconductor producer’s stock valued at $705,000 after purchasing an additional 20,745 shares in the last quarter. Legal & General Group Plc bought a new position in shares of STMicroelectronics during the second quarter valued at approximately $119,000. M&T Bank Corp bought a new position in shares of STMicroelectronics during the second quarter valued at approximately $303,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of STMicroelectronics by 79.1% during the second quarter. EverSource Wealth Advisors LLC now owns 4,883 shares of the semiconductor producer’s stock valued at $148,000 after purchasing an additional 2,156 shares in the last quarter. 5.05% of the stock is owned by institutional investors.

STMicroelectronics Stock Up 10.5%

The stock’s 50 day simple moving average is $55.47 and its two-hundred day simple moving average is $38.47. The firm has a market cap of $70.20 billion, a P/E ratio of 488.52 and a beta of 1.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 2.34.

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

STMicroelectronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 22nd will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. STMicroelectronics’s dividend payout ratio (DPR) is currently 187.50%.

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.