Published on 30 Mar 2023 on Zacks via Yahoo Finance
Shares of STMicroelectronics (STM) have been strong performers lately, with the stock up 5.4% over the past month. The stock hit a new 52-week high of $52.11 in the previous session. STMicroelectronics has gained 45% since the start of the year compared to the 18.1% move for the Zacks Computer and Technology sector and the 54.5% return for the Zacks Semiconductor - General industry.
What's Driving the Outperformance?
The stock has a great 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%.