Earnest Partners LLC Has $371,000 Stake in STMicroelectronics (NYSE:STM)

Earnest Partners LLC lowered its stake in shares of STMicroelectronics (NYSE:STM) by 6.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,844 shares of the semiconductor producer’s stock after selling 1,107 shares during the quarter. Earnest Partners LLC’s holdings in STMicroelectronics were worth $371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in STMicroelectronics by 131.5% during the fourth 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 during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in STMicroelectronics by 576.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer’s stock worth $47,962,000 after buying an additional 1,636,707 shares during the last quarter. Invesco Ltd. boosted its holdings in STMicroelectronics by 94.4% during the fourth quarter. Invesco Ltd. now owns 1,767,787 shares of the semiconductor producer’s stock worth $44,142,000 after buying an additional 858,624 shares during the last quarter. Barclays PLC boosted its holdings in STMicroelectronics by 22.1% during the fourth quarter. Barclays PLC now owns 1,281,006 shares of the semiconductor producer’s stock worth $31,987,000 after buying an additional 231,668 shares during the last quarter. Finally, Brandes Investment Partners LP bought a new position in STMicroelectronics during the fourth quarter worth about $15,570,000. Institutional investors own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STM. Bank of America cut STMicroelectronics from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Barclays cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 22nd. Jefferies Financial Group upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Sanford C. Bernstein cut STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $33.00 to $26.00 in a report on Wednesday, February 5th. Finally, TD Cowen lifted their price objective on STMicroelectronics from $18.00 to $23.00 and gave the company a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.97.

STMicroelectronics Stock Down 0.5 %

Shares of STMicroelectronics stock opened at $23.16 on Tuesday. The business’s 50 day simple moving average is $23.01 and its 200 day simple moving average is $24.63. STMicroelectronics has a 52-week low of $17.25 and a 52-week high of $45.39. The firm has a market cap of $20.80 billion, a PE ratio of 13.95, a P/E/G ratio of 1.16 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.55 billion. On average, analysts predict that STMicroelectronics will post 0.85 earnings per share for the current fiscal 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.