Rhumbline Advisers Sells 1,983 Shares of STMicroelectronics (NYSE:STM)

Rhumbline Advisers lessened its stake in shares of STMicroelectronics (NYSE:STM) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,525 shares of the semiconductor producer’s stock after selling 1,983 shares during the quarter. Rhumbline Advisers’ holdings in STMicroelectronics were worth $463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Two Sigma Advisers LP lifted its position in shares of STMicroelectronics by 674.2% during the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock worth $41,524,000 after buying an additional 1,216,300 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of STMicroelectronics by 174.3% during the 3rd quarter. Quantbot Technologies LP now owns 97,063 shares of the semiconductor producer’s stock worth $2,886,000 after buying an additional 61,682 shares in the last quarter. Stifel Financial Corp lifted its position in shares of STMicroelectronics by 0.7% during the 3rd quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer’s stock worth $2,048,000 after buying an additional 493 shares in the last quarter. Moran Wealth Management LLC lifted its position in shares of STMicroelectronics by 0.9% during the 3rd quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer’s stock worth $2,039,000 after buying an additional 634 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of STMicroelectronics by 1.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 65,561 shares of the semiconductor producer’s stock worth $1,637,000 after buying an additional 749 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

STM stock opened at $26.46 on Friday. STMicroelectronics has a 12-month low of $21.36 and a 12-month high of $48.75. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $24.75 and its two-hundred day moving average price is $26.53. The stock has a market capitalization of $23.90 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.16 and a beta of 1.56.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that STMicroelectronics will post 0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on STM shares. BNP Paribas started coverage on shares of STMicroelectronics in a research note on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price target for the company. Jefferies Financial Group upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Barclays lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 22nd. Bank of America lowered shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Finally, Sanford C. Bernstein downgraded shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their price target for the company from $33.00 to $26.00 in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.26.

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.