NEW YORK ( TheStreet) -- STMicroelectronics (NYSE: STM) hit a new 52-week high Wednesday as it traded at $12.53 compared with its previous 52-Week high of $12.50. STMicroelectronics is changing hands at $12.53 with 415,956 shares traded as of 10:38 a.m. ET. Average volume has been 1.7 million shares over the past 30 days. STMicroelectronics has a market cap of $10.5 billion and is part of the technology sector and electronics industry. Shares are up 16.9% year to date as of the close of trading on Tuesday.

STMicroelectronics N.V., an independent semiconductor company, designs, develops, manufactures, and markets a range of semiconductor integrated circuits (ICs) and discrete devices. The company has a P/E ratio of 12.9, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 23.4.

TheStreet Ratings rates STMicroelectronics as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full STMicroelectronics Ratings Report.

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