STMicroelectronics (NYSE:STM) Shares Gap Up to $41.12

STMicroelectronics (NYSE:STM) shares gapped up before the market opened on Friday . The stock had previously closed at $41.12, but opened at $42.57. STMicroelectronics shares last traded at $42.22, with a volume of 317,076 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STM. The Goldman Sachs Group upgraded STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $35.50 to $45.80 in a research report on Tuesday, June 18th. Susquehanna reiterated a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. StockNews.com upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. William Blair reaffirmed a “market perform” rating on shares of STMicroelectronics in a report on Friday, April 26th. Finally, Berenberg Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.76.

STMicroelectronics Trading Up 2.5 %

The company has a market capitalization of $38.04 billion, a P/E ratio of 10.54, a PEG ratio of 3.86 and a beta of 1.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 2.58. The business’s 50-day moving average price is $41.53 and its two-hundred day moving average price is $43.75.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.05). STMicroelectronics had a return on equity of 22.95% and a net margin of 22.30%. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The business’s revenue was down 18.4% on a year-over-year basis. As a group, analysts forecast that STMicroelectronics will post 2.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mather Group LLC. acquired a new stake in shares of STMicroelectronics during the first quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of STMicroelectronics in the fourth quarter valued at about $40,000. GAMMA Investing LLC acquired a new stake in STMicroelectronics in the 4th quarter valued at approximately $48,000. Headlands Technologies LLC lifted its stake in STMicroelectronics by 74.9% in the 4th quarter. Headlands Technologies LLC now owns 1,221 shares of the semiconductor producer’s stock valued at $61,000 after acquiring an additional 523 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in STMicroelectronics in the 4th quarter valued at approximately $70,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

About STMicroelectronics

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.