Published on 2 Feb 2023 on Zacks via Yahoo Finance

STMicroelectronics N.V. (STM) Hits Fresh High: Is There Still Room to Run?

Have you been paying attention to shares of STMicroelectronics (STM)? Shares have been on the move with the stock up 35% over the past month. The stock hit a new 52-week high of $49.79 in the previous session. STMicroelectronics has gained 38.5% since the start of the year compared to the 14% move for the Zacks Computer and Technology sector and the 30.1% return for the Zacks Semiconductor - General industry.

What's Driving the Outperformance?

The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on January 26, 2023, STMicroelectronics reported EPS of $1.32 versus consensus estimate of $1.13 while it beat the consensus revenue estimate by 0.45%.