Wells Fargo & Company MN Sells 109,148 Shares of STMicroelectronics (NYSE:STM)

Wells Fargo & Company MN lowered its position in STMicroelectronics (NYSE:STM) by 40.3% 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 161,522 shares of the semiconductor producer’s stock after selling 109,148 shares during the quarter. Wells Fargo & Company MN’s holdings in STMicroelectronics were worth $4,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Clear Creek Financial Management LLC purchased a new position in STMicroelectronics in the 4th quarter worth $468,000. Callan Family Office LLC bought a new stake in shares of STMicroelectronics in the 4th quarter valued at about $486,000. Raymond James Financial Inc. purchased a new stake in STMicroelectronics during the 4th quarter valued at about $1,738,000. Schechter Investment Advisors LLC purchased a new position in STMicroelectronics in the 4th quarter worth approximately $758,000. Finally, Diversified Trust Co bought a new stake in STMicroelectronics in the fourth quarter valued at approximately $583,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Stock Down 1.3 %

Shares of NYSE:STM opened at $20.00 on Tuesday. STMicroelectronics has a 12-month low of $17.25 and a 12-month high of $45.39. The stock has a market capitalization of $17.96 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.16 and a beta of 1.56. The stock has a fifty day simple moving average of $23.24 and a two-hundred day simple moving average of $24.83. The company has a current ratio of 3.11, a quick ratio of 2.37 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 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. On average, research analysts anticipate that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on STM. Barclays downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 22nd. Bank of America lowered shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Susquehanna lowered their price target on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein cut STMicroelectronics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $33.00 to $26.00 in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, STMicroelectronics presently has an average rating of “Hold” and a consensus price target of $31.26.

About STMicroelectronics

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.