Lighthouse Investment Partners LLC Sells 10,000 Shares of STMicroelectronics (NYSE:STM)

Lighthouse Investment Partners LLC cut its position in shares of STMicroelectronics (NYSE:STM) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the semiconductor producer’s stock after selling 10,000 shares during the period. Lighthouse Investment Partners LLC’s holdings in STMicroelectronics were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Clear Creek Financial Management LLC acquired a new position in shares of STMicroelectronics during the fourth quarter worth $468,000. Callan Family Office LLC acquired a new stake in STMicroelectronics during the 4th quarter worth about $486,000. Raymond James Financial Inc. acquired a new position in STMicroelectronics in the fourth quarter valued at approximately $1,738,000. Schechter Investment Advisors LLC acquired a new position in shares of STMicroelectronics in the 4th quarter valued at $758,000. Finally, J2 Capital Management Inc acquired a new position in shares of STMicroelectronics in the fourth quarter worth about $295,000. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Trading Down 0.5%

NYSE:STM opened at $25.95 on Friday. The stock has a fifty day simple moving average of $22.50 and a 200-day simple moving average of $24.33. The company has a market capitalization of $23.31 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. STMicroelectronics has a 52-week low of $17.25 and a 52-week high of $45.39. 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 (NYSE:STM) last posted its quarterly earnings data on Thursday, April 24th. The semiconductor producer reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.55 billion. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, equities research analysts expect that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on STM shares. Sanford C. Bernstein cut shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $33.00 to $26.00 in a research note on Wednesday, February 5th. TD Cowen raised their target price on STMicroelectronics from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a research note on Friday, April 25th. Bank of America cut STMicroelectronics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Finally, Jefferies Financial Group upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.97.

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.