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

STMicroelectronics (NYSE:STM - Get Free Report) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totalling 7,320,000 shares, a drop of 27.2% from the November 30th total of 10,050,000 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 5,090,000 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Trading of STMicroelectronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aigen Investment Management LP bought a new stake in shares of STMicroelectronics during the 3rd quarter valued at $1,157,000. Washington Capital Management Inc. bought a new position in STMicroelectronics during the third quarter worth about $1,112,000. Point72 Asset Management L.P. acquired a new position in shares of STMicroelectronics during the 3rd quarter worth about $1,924,000. Point72 Hong Kong Ltd acquired a new stake in shares of STMicroelectronics in the 3rd quarter valued at approximately $1,424,000. Finally, American Century Companies Inc. boosted its stake in STMicroelectronics by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 469,669 shares of the semiconductor producer's stock worth $18,449,000 after acquiring an additional 28,846 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

STMicroelectronics Price Performance

NYSE:STM traded down $0.05 during mid-day trading on Friday, reaching $25.48. 3,678,163 shares of the company were exchanged, compared to its average volume of 4,155,539. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The stock has a market cap of $23.02 billion, a PE ratio of 10.49, a PEG ratio of 3.20 and a beta of 1.53. STMicroelectronics has a 12 month low of $23.95 and a 12 month high of $50.70. The company has a fifty day moving average of $26.16 and a 200 day moving average of $30.97.

STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.27 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. STMicroelectronics's revenue was down 26.6% compared to the same quarter last year. On average, research analysts anticipate that STMicroelectronics will post 1.64 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics's dividend payout ratio (DPR) is presently 14.81%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STM. Citigroup upgraded shares of STMicroelectronics to a "strong-buy" rating in a research note on Thursday, October 10th. Morgan Stanley lowered shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research report on Monday, November 4th. Craig Hallum decreased their price objective on STMicroelectronics from $42.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. reissued a "neutral" rating on shares of STMicroelectronics in a report on Monday, December 9th. Finally, Robert W. Baird cut their target price on STMicroelectronics from $35.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.26.

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.