Wells Fargo & Company MN Sells 109,148 Shares of STMicroelectronics (NYSE:STM)

Wells Fargo & Company MN lessened its stake in STMicroelectronics (NYSE:STM - Free Report) by 40.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,522 shares of the semiconductor producer's stock after selling 109,148 shares during the quarter. Wells Fargo & Company MN's holdings in STMicroelectronics were worth $4,033,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of STMicroelectronics by 131.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer's stock worth $85,232,000 after buying an additional 1,939,088 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of STMicroelectronics by 576.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer's stock valued at $47,962,000 after acquiring an additional 1,636,707 shares during the last quarter. Brandes Investment Partners LP bought a new stake in STMicroelectronics during the fourth quarter worth $15,570,000. Sei Investments Co. boosted its position in STMicroelectronics by 982.0% in the fourth quarter. Sei Investments Co. now owns 262,088 shares of the semiconductor producer's stock worth $6,543,000 after purchasing an additional 237,865 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in STMicroelectronics in the fourth quarter worth $1,738,000. Hedge funds and other institutional investors own 5.05% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on STM shares. Sanford C. Bernstein cut STMicroelectronics from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $33.00 to $26.00 in a research note on Wednesday, February 5th. Susquehanna dropped their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a "positive" rating on the stock in a research note on Friday, January 31st. TD Cowen lowered shares of STMicroelectronics from a "buy" rating to a "hold" rating and decreased their price target for the stock from $32.00 to $25.00 in a research note on Monday, January 13th. Jefferies Financial Group upgraded STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Finally, Barclays cut STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $31.26.

STMicroelectronics Price Performance

Shares of STM traded up $0.93 during midday trading on Wednesday, hitting $21.79. 10,257,184 shares of the company traded hands, compared to its average volume of 5,475,822. STMicroelectronics has a one year low of $17.25 and a one year high of $45.39. The firm has a market cap of $19.57 billion, a P/E ratio of 13.13, a PEG ratio of 1.16 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. The stock has a 50-day moving average of $23.12 and a 200-day moving average of $24.78.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, topping 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%. As a group, sell-side analysts predict that STMicroelectronics will post 0.85 EPS for the current fiscal year.

About STMicroelectronics

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.