STMicroelectronics N.V. (NYSE:STM – Get Free Report) shares traded down 4.2% during trading on Wednesday . The stock traded as low as $66.13 and last traded at $67.7320. 13,370,026 shares were traded during mid-day trading, an increase of 38% from the average session volume of 9,658,764 shares. The stock had previously closed at $70.69.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Robert W. Baird set a $90.00 price objective on shares of STMicroelectronics in a report on Friday, April 24th. Mizuho raised their price objective on shares of STMicroelectronics from $56.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a report on Friday, April 24th. Susquehanna raised their price target on shares of STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a report on Monday, February 23rd. Finally, Weiss Ratings downgraded shares of STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, STMicroelectronics currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.93.
STMicroelectronics Stock Performance
STMicroelectronics (NYSE:STM – Get Free Report) last issued its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The company had revenue of $3.10 billion for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. On average, equities research analysts forecast that STMicroelectronics N.V. will post 1.09 EPS for the current year.
Hedge Funds Weigh In On STMicroelectronics
A number of hedge funds have recently modified their holdings of STM. Amundi purchased a new position in shares of STMicroelectronics in the first quarter valued at about $947,000. AQR Capital Management LLC increased its position in shares of STMicroelectronics by 182.8% in the first quarter. AQR Capital Management LLC now owns 32,094 shares of the semiconductor producer’s stock valued at $705,000 after acquiring an additional 20,745 shares during the period. Legal & General Group Plc purchased a new position in shares of STMicroelectronics in the second quarter valued at about $119,000. M&T Bank Corp purchased a new position in shares of STMicroelectronics in the second quarter valued at about $303,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of STMicroelectronics by 79.1% in the second quarter. EverSource Wealth Advisors LLC now owns 4,883 shares of the semiconductor producer’s stock valued at $148,000 after acquiring an additional 2,156 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.
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.
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