Laird Norton Wetherby Wealth Management LLC Has $844,000 Stock Position in STMicroelectronics (NYSE:STM)

Laird Norton Wetherby Wealth Management LLC reduced its position in shares of STMicroelectronics (NYSE:STM) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,796 shares of the semiconductor producer’s stock after selling 693 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in STMicroelectronics were worth $844,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 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 position in shares of STMicroelectronics during the fourth quarter worth $486,000. Raymond James Financial Inc. acquired a new position in shares of STMicroelectronics during the fourth quarter worth $1,738,000. Schechter Investment Advisors LLC acquired a new position in shares of STMicroelectronics during the fourth quarter worth $758,000. Finally, J2 Capital Management Inc acquired a new position in shares of STMicroelectronics during the fourth quarter worth $295,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Stock Performance

Shares of STM opened at $26.00 on Thursday. 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 stock has a market capitalization of $23.35 billion, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. The firm’s fifty day simple moving average is $22.48 and its two-hundred day simple moving average is $24.35. STMicroelectronics has a 12 month low of $17.25 and a 12 month high of $45.39.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results 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 analysts’ expectations of $2.55 billion. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. As a group, analysts predict that STMicroelectronics will post 0.85 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein downgraded shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. Susquehanna lowered their price target on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a report on Friday, January 31st. Jefferies Financial Group upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. TD Cowen increased their price objective on STMicroelectronics from $18.00 to $23.00 and gave the company a “hold” rating in a report on Friday, April 25th. Finally, Dbs Bank downgraded STMicroelectronics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.97.

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.