STMicroelectronics (NYSE:STM) Sets New 12-Month High at $24.91

STMicroelectronics NV (NYSE:STM)’s share price reached a new 52-week high on Thursday . The stock traded as high as $24.91 and last traded at $24.85, with a volume of 175818 shares. The stock had previously closed at $24.65.

A number of equities research analysts have recently issued reports on STM shares. Zacks Investment Research raised shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, October 30th. Cowen raised their target price on shares of STMicroelectronics from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Goldman Sachs Group upgraded STMicroelectronics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.60 to $19.20 in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $19.02.

The stock has a market capitalization of $22.20 billion, a P/E ratio of 17.38, a PEG ratio of 4.50 and a beta of 1.41. The stock’s 50-day simple moving average is $23.30 and its 200 day simple moving average is $19.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.87 and a quick ratio of 2.04.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, October 24th. The semiconductor producer reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.48 billion. STMicroelectronics had a net margin of 11.20% and a return on equity of 16.11%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, analysts expect that STMicroelectronics NV will post 1.08 earnings per share for the current fiscal year.

In related news, insider Ascough Graham 4,000,000 shares of STMicroelectronics stock in a transaction that occurred on Thursday, October 31st.

Institutional investors have recently added to or reduced their stakes in the business. Boston Partners acquired a new position in shares of STMicroelectronics in the second quarter valued at approximately $38,000. Parallel Advisors LLC boosted its stake in STMicroelectronics by 555.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,361 shares of the semiconductor producer’s stock valued at $42,000 after purchasing an additional 2,001 shares during the period. Whittier Trust Co. bought a new stake in STMicroelectronics in the 3rd quarter valued at $49,000. AdvisorNet Financial Inc bought a new stake in STMicroelectronics in the 3rd quarter valued at $49,000. Finally, Stonebridge Capital Advisors LLC acquired a new position in STMicroelectronics in the 2nd quarter valued at $62,000. 3.08% of the stock is currently owned by hedge funds and other institutional investors.

About STMicroelectronics (NYSE:STM)

STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.

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