Wells Fargo & Company MN Reduces Holdings in STMicroelectronics (NYSE:STM)

Wells Fargo & Company MN reduced its holdings in shares of STMicroelectronics (NYSE:STM) by 40.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,522 shares of the semiconductor producer’s stock after selling 109,148 shares during the period. Wells Fargo & Company MN’s holdings in STMicroelectronics were worth $4,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC raised its holdings in STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 531 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of STMicroelectronics during the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its holdings in STMicroelectronics by 225.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock worth $33,000 after acquiring an additional 921 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in STMicroelectronics by 197.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock valued at $44,000 after purchasing an additional 1,180 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of STMicroelectronics in the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Performance

NYSE:STM opened at $20.00 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The stock’s fifty day moving average is $23.24 and its 200 day moving average is $24.83. The firm has a market capitalization of $17.96 billion, a PE ratio of 12.05, a PEG ratio of 1.16 and a beta of 1.56. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $45.39.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. On average, sell-side analysts anticipate that STMicroelectronics will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Sanford C. Bernstein downgraded shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. TD Cowen downgraded STMicroelectronics from a “buy” rating to a “hold” rating and decreased their target price for the company from $32.00 to $25.00 in a research note on Monday, January 13th. Barclays lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 22nd. Susquehanna dropped their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research report on Friday, January 31st. Finally, Bank of America cut shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.26.

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.