Exencial Wealth Advisors LLC Lowers Stock Position in STMicroelectronics (NYSE:STM)

Exencial Wealth Advisors LLC trimmed its holdings in shares of STMicroelectronics (NYSE:STM - Free Report) by 87.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,562 shares of the semiconductor producer's stock after selling 246,698 shares during the quarter. Exencial Wealth Advisors LLC's holdings in STMicroelectronics were worth $863,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP raised its position in shares of STMicroelectronics by 674.2% during the third quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer's stock worth $41,524,000 after acquiring an additional 1,216,300 shares during the last quarter. Point72 Asset Management L.P. bought a new position in STMicroelectronics during the 3rd quarter worth approximately $1,924,000. Shariaportfolio Inc. acquired a new position in shares of STMicroelectronics in the 4th quarter worth approximately $1,584,000. ABC Arbitrage SA acquired a new position in shares of STMicroelectronics in the 4th quarter worth approximately $1,543,000. Finally, Quantbot Technologies LP boosted its stake in shares of STMicroelectronics by 174.3% in the 3rd quarter. Quantbot Technologies LP now owns 97,063 shares of the semiconductor producer's stock valued at $2,886,000 after purchasing an additional 61,682 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STM. Barclays lowered shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a report on Wednesday, January 22nd. Sanford C. Bernstein downgraded STMicroelectronics from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $33.00 to $26.00 in a research note on Wednesday, February 5th. BNP Paribas started coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They set a "neutral" rating and a $28.00 target price on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of STMicroelectronics in a report on Monday, December 9th. Finally, Bank of America cut STMicroelectronics from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $31.26.

Remove Ads

STMicroelectronics Stock Up 2.1 %

Shares of STM traded up $0.55 during trading hours on Friday, reaching $26.46. The stock had a trading volume of 9,180,875 shares, compared to its average volume of 7,540,910. The firm has a 50-day simple moving average of $24.75 and a 200 day simple moving average of $26.53. STMicroelectronics has a 12 month low of $21.36 and a 12 month high of $48.75. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $23.90 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.16 and a beta of 1.56.

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 analysts' consensus estimates of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. Equities research analysts predict that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

STMicroelectronics Company Profile

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.