Benzinga | Oct 1, 2020 11:01AM EDT

Why STMicroelectronics Stock Is Trading Higher Today

STMicroelectronics (NYSE:STM) shares are trading higher on Thursday after the company reported third-quarter preliminary sales of $2.67 billion, versus the $2.47 billion estimate.

A merger between Italian firm SGS Microelettronica and the nonmilitary business of Thomson Semiconductors in France formed STMicroelectronics in 1987. STMicro is a leader in a variety of semiconductor products, including analog chips, discrete power semiconductors, microcontrollers, and sensors. STMicro is an especially prominent chip supplier into the industrial and automotive industries.

STMicroelectronics shares traded up 7.43% to $32.97 on Thursday. The stock has a 52-week high of $33.30 and a 52-week low of $14.67.