Bank of New York Mellon Corp Lowers Stake in STMicroelectronics (NYSE:STM)

Bank of New York Mellon Corp lessened its holdings in STMicroelectronics (NYSE:STM) by 44.3% in the 4th quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of STM. Two Sigma Advisers LP increased its position in shares of STMicroelectronics by 674.2% in the third quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock valued at $41,524,000 after buying an additional 1,216,300 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in STMicroelectronics in the 3rd quarter valued at $1,924,000. Shariaportfolio Inc. purchased a new stake in STMicroelectronics in the 4th quarter worth $1,584,000. ABC Arbitrage SA acquired a new position in STMicroelectronics during the fourth quarter worth $1,543,000. Finally, Quantbot Technologies LP lifted its holdings in STMicroelectronics by 174.3% during the third 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 in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Ratings Changes

STM has been the subject of a number of research reports. Jefferies Financial Group raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein cut STMicroelectronics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $33.00 to $26.00 in a report on Wednesday, February 5th. TD Cowen lowered STMicroelectronics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $32.00 to $25.00 in a research note on Monday, January 13th. Morgan Stanley upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. Finally, Bank of America lowered STMicroelectronics from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.26.

STMicroelectronics Stock Up 0.9 %

NYSE STM opened at $25.61 on Wednesday. The business’s fifty day simple moving average is $24.71 and its 200-day simple moving average is $26.18. The firm has a market cap of $23.00 billion, a PE ratio of 15.42, a P/E/G ratio of 1.16 and a beta of 1.56. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 52 week low of $21.36 and a 52 week high of $45.39.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. As a group, equities analysts anticipate that STMicroelectronics will post 0.85 earnings per share for the current year.

STMicroelectronics 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.