Bank of New York Mellon Corp reduced its stake in shares of STMicroelectronics (NYSE:STM - Free Report) by 44.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,867 shares of the semiconductor producer's stock after selling 125,446 shares during the quarter. Bank of New York Mellon Corp's holdings in STMicroelectronics were worth $3,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in STM. Truvestments Capital LLC purchased a new position in shares of STMicroelectronics in the third quarter valued at $25,000. GAMMA Investing LLC lifted its position in STMicroelectronics by 81.4% in the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer's stock worth $30,000 after buying an additional 531 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in STMicroelectronics in the fourth quarter worth $31,000. TD Private Client Wealth LLC lifted its position in STMicroelectronics by 108.3% in the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer's stock worth $46,000 after buying an additional 809 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in STMicroelectronics in the fourth quarter worth $70,000. 5.05% of the stock is owned by hedge funds and other institutional investors.
STMicroelectronics Stock Down 1.5 %
Shares of STM stock traded down $0.37 on Friday, hitting $24.04. The stock had a trading volume of 5,511,890 shares, compared to its average volume of 4,801,289. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $24.69 and a 200 day moving average price of $26.11. The company has a market cap of $21.59 billion, a PE ratio of 14.48, a P/E/G ratio of 1.16 and a beta of 1.56. STMicroelectronics has a one year low of $21.36 and a one year high of $45.39.
STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Research analysts anticipate that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on STM shares. BNP Paribas started coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They issued a "neutral" rating and a $28.00 price target for the company. Susquehanna lowered their price target on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating for the company in a research report on Friday, January 31st. Bank of America downgraded STMicroelectronics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. restated a "neutral" rating on shares of STMicroelectronics in a research report on Monday, December 9th. Finally, Jefferies Financial Group upgraded STMicroelectronics from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, STMicroelectronics has an average rating of "Hold" and a consensus target price of $31.26.
Read Our Latest Report on STM
STMicroelectronics Profile
(
Free Report)
STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.
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