QRG Capital Management Inc. Lowers Stake in STMicroelectronics (NYSE:STM)

QRG Capital Management Inc. lessened its stake in shares of STMicroelectronics (NYSE:STM) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,017 shares of the semiconductor producer’s stock after selling 14,737 shares during the quarter. QRG Capital Management Inc.’s holdings in STMicroelectronics were worth $1,723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stifel Financial Corp lifted its stake in shares of STMicroelectronics by 0.7% during the third quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer’s stock worth $2,048,000 after purchasing an additional 493 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 531 shares in the last quarter. Moran Wealth Management LLC lifted its stake in shares of STMicroelectronics by 0.9% during the third quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer’s stock worth $2,039,000 after purchasing an additional 634 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of STMicroelectronics by 1.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 65,561 shares of the semiconductor producer’s stock worth $1,637,000 after purchasing an additional 749 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of STMicroelectronics by 108.3% during the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after purchasing an additional 809 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Ratings Changes

STM has been the topic of a number of recent research reports. Jefferies Financial Group upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Bank of America cut STMicroelectronics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. BNP Paribas assumed coverage on STMicroelectronics in a research note on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price target on the stock. Finally, Sanford C. Bernstein cut STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $33.00 to $26.00 in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.26.

STMicroelectronics Trading Up 1.0 %

Shares of NYSE STM opened at $24.71 on Monday. The stock’s 50 day moving average price is $24.78 and its two-hundred day moving average price is $26.70. STMicroelectronics has a 52-week low of $21.36 and a 52-week high of $49.05. The stock has a market capitalization of $22.32 billion, a P/E ratio of 14.89, a PEG ratio of 1.16 and a beta of 1.51. 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 announced its quarterly earnings data 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 return on equity of 8.92% and a net margin of 11.74%. On average, analysts anticipate that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

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.