STMicroelectronics (NYSE:STM) Sees Large Decrease in Short Interest

STMicroelectronics (NYSE:STM - Get Free Report) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 14,330,000 shares, a decrease of 14.4% from the February 13th total of 16,740,000 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,890,000 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Investors Weigh In On STMicroelectronics

Large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG increased its holdings in shares of STMicroelectronics by 14.5% during the fourth quarter. Deutsche Bank AG now owns 3,682 shares of the semiconductor producer's stock valued at $92,000 after acquiring an additional 466 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of STMicroelectronics by 0.7% during the third quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer's stock valued at $2,048,000 after acquiring an additional 493 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer's stock valued at $30,000 after acquiring an additional 531 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of STMicroelectronics by 4.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,280 shares of the semiconductor producer's stock valued at $307,000 after acquiring an additional 539 shares in the last quarter. Finally, Moran Wealth Management LLC increased its holdings in shares of STMicroelectronics by 0.9% during the third quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer's stock valued at $2,039,000 after acquiring an additional 634 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STM shares. Susquehanna dropped their price objective on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating for the company in a research report on Friday, January 31st. Barclays downgraded STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 22nd. Jefferies Financial Group upgraded STMicroelectronics from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. TD Cowen downgraded STMicroelectronics from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $32.00 to $25.00 in a research report on Monday, January 13th. Finally, BNP Paribas initiated coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They set a "neutral" rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $31.26.

STMicroelectronics Trading Down 1.5 %

Shares of STM stock traded down $0.37 on Friday, hitting $24.04. The company had a trading volume of 5,511,890 shares, compared to its average volume of 4,812,660. The firm has a market cap of $21.59 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.16 and a beta of 1.56. The stock's 50-day moving average is $24.69 and its two-hundred day moving average is $26.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. STMicroelectronics has a twelve month low of $21.36 and a twelve month high of $45.39.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings results 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%. On average, equities research analysts anticipate 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.