Quantbot Technologies LP Cuts Stock Position in STMicroelectronics (NYSE:STM)

Quantbot Technologies LP cut its holdings in STMicroelectronics (NYSE:STM) by 9.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 87,716 shares of the semiconductor producer’s stock after selling 9,347 shares during the quarter. Quantbot Technologies LP’s holdings in STMicroelectronics were worth $2,190,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in STM. Signaturefd LLC increased its position in shares of STMicroelectronics by 27.6% during the fourth quarter. Signaturefd LLC now owns 20,580 shares of the semiconductor producer’s stock worth $514,000 after purchasing an additional 4,448 shares in the last quarter. Copperwynd Financial LLC purchased a new stake in shares of STMicroelectronics during the fourth quarter worth approximately $207,000. Brandes Investment Partners LP purchased a new stake in shares of STMicroelectronics during the fourth quarter worth approximately $15,570,000. Rakuten Securities Inc. increased its position in shares of STMicroelectronics by 197.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 1,180 shares in the last quarter. Finally, Inspire Advisors LLC increased its position in shares of STMicroelectronics by 30.3% during the fourth quarter. Inspire Advisors LLC now owns 20,529 shares of the semiconductor producer’s stock worth $513,000 after purchasing an additional 4,769 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics Stock Performance

Shares of STMicroelectronics stock opened at $24.04 on Monday. STMicroelectronics has a 52 week low of $21.36 and a 52 week high of $45.39. The business’s fifty day simple moving average is $24.69 and its 200-day simple moving average is $26.06. The firm has a market cap of $21.59 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. 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 results on Thursday, January 30th. The semiconductor producer reported $0.37 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%. Equities analysts forecast that STMicroelectronics will post 0.85 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on STM. TD Cowen lowered STMicroelectronics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $32.00 to $25.00 in a research note on Monday, January 13th. Susquehanna lowered their price objective on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a research note on Friday, January 31st. BNP Paribas began coverage on STMicroelectronics in a research note on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price objective on the stock. Morgan Stanley raised STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, STMicroelectronics has a consensus rating of “Hold” and an average target price of $31.26.

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.