Jefferies upgraded STM to "buy" from "hold"
Netherlands-based chip stock STMicroelectronics NV (NYSE:STM) is up 5.2% at $23.71 at last glance, after an upgrade from Jefferies to "buy" from "hold," with a price-target hike to €34 from €23. The firm expects growth in the second half of 2025, driven by several factors, including content within Apple’s upcoming iPhone 17 lineup. Separately, the company has been repurchasing its shares: 287,561 ordinary shares between Feb. 10 and Feb. 14.
On the charts, STMicroelectronics stock has been climbing since its Feb. 3 four-year low of $21.36, though long-term pressure at the 100-day moving average appears to be keeping a cap on gains today. Year-over-year, the equity is down 42%.
Call traders are targeting STM at triple the intraday average volume. The March 27 call is the most popular, followed by the 26 call in the same series. This represents a shift in sentiment, as the stock's 50-day put/call volume ratio of 1.28 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 90% of readings from the past year.