STMicroelectronics (NYSE:STM) Short Interest Down 37.6% in April

STMicroelectronics (NYSE:STMGet Rating) was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totalling 3,570,000 shares, a decline of 37.6% from the April 15th total of 5,720,000 shares. Based on an average daily volume of 4,170,000 shares, the short-interest ratio is currently 0.9 days. Currently, 0.4% of the shares of the company are short sold.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of STMicroelectronics by 33.0% during the 1st quarter. Van ECK Associates Corp now owns 4,824,022 shares of the semiconductor producer’s stock valued at $208,494,000 after buying an additional 1,197,001 shares in the last quarter. BlackRock Inc. raised its position in shares of STMicroelectronics by 9.9% during the 1st quarter. BlackRock Inc. now owns 3,530,155 shares of the semiconductor producer’s stock valued at $152,573,000 after buying an additional 318,347 shares in the last quarter. Capital International Investors raised its position in shares of STMicroelectronics by 5.6% during the 4th quarter. Capital International Investors now owns 2,773,707 shares of the semiconductor producer’s stock valued at $136,439,000 after buying an additional 147,924 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in STMicroelectronics by 120.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,733,455 shares of the semiconductor producer’s stock valued at $133,612,000 after purchasing an additional 1,492,053 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in STMicroelectronics by 393.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,530,679 shares of the semiconductor producer’s stock valued at $75,787,000 after purchasing an additional 1,220,355 shares during the last quarter. Hedge funds and other institutional investors own 11.49% of the company’s stock.

A number of brokerages have recently issued reports on STM. Craig Hallum cut their price objective on shares of STMicroelectronics from $65.00 to $55.00 in a research report on Wednesday, April 27th. Jefferies Financial Group began coverage on shares of STMicroelectronics in a research report on Thursday, February 17th. They set an “underperform” rating for the company. UBS Group cut their price objective on shares of STMicroelectronics from €44.00 ($46.32) to €38.00 ($40.00) and set a “neutral” rating for the company in a research report on Thursday, April 28th. Cowen cut their price objective on shares of STMicroelectronics from $66.00 to $60.00 in a research report on Thursday, April 28th. Finally, StockNews.com began coverage on shares of STMicroelectronics in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $50.91.

Shares of STM stock opened at $39.53 on Friday. The stock has a market cap of $35.91 billion, a P/E ratio of 15.44, a PEG ratio of 2.12 and a beta of 1.46. STMicroelectronics has a 52 week low of $34.65 and a 52 week high of $52.15. The company has a quick ratio of 1.90, a current ratio of 2.60 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $39.36 and its two-hundred day simple moving average is $44.49.

STMicroelectronics (NYSE:STMGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The semiconductor producer reported $0.79 EPS for the quarter, topping the consensus estimate of $0.71 by $0.08. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.49 billion. STMicroelectronics had a net margin of 17.93% and a return on equity of 26.20%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. On average, analysts anticipate that STMicroelectronics will post 3.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 29th. Stockholders of record on Tuesday, March 22nd were given a dividend of $0.051 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, March 21st. STMicroelectronics’s dividend payout ratio is 7.81%.

STMicroelectronics Company Profile (Get Rating)

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.

Featured Articles

Receive News & Ratings for STMicroelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics and related companies with MarketBeat.com's FREE daily email newsletter.