Franklin Resources Inc. Has $259,000 Stake in STMicroelectronics (NYSE:STM)

Franklin Resources Inc. cut its position in shares of STMicroelectronics (NYSE:STM) by 21.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,361 shares of the semiconductor producer’s stock after selling 2,804 shares during the period. Franklin Resources Inc.’s holdings in STMicroelectronics were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of STMicroelectronics by 81.4% in the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after purchasing an additional 531 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of STMicroelectronics during the fourth quarter worth $31,000. Smartleaf Asset Management LLC boosted its holdings in STMicroelectronics by 225.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock valued at $33,000 after purchasing an additional 921 shares during the period. Rakuten Securities Inc. grew its position in 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 buying an additional 1,180 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of STMicroelectronics during the 4th quarter worth $53,000. 5.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America cut STMicroelectronics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Jefferies Financial Group raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. 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. Barclays cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 22nd. Finally, Morgan Stanley raised STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research note on Thursday, February 13th. 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 given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.26.

STMicroelectronics Stock Up 0.5 %

STMicroelectronics stock opened at $20.22 on Friday. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $45.39. The firm’s 50-day simple moving average is $23.31 and its 200 day simple moving average is $24.93. The stock has a market cap of $18.16 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Research analysts predict that STMicroelectronics will post 0.85 EPS for the current fiscal year.

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.