Envestnet Asset Management Inc. Sells 189,206 Shares of STMicroelectronics (NYSE:STM)

Envestnet Asset Management Inc. reduced its position in shares of STMicroelectronics (NYSE:STM) by 59.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 128,699 shares of the semiconductor producer’s stock after selling 189,206 shares during the quarter. Envestnet Asset Management Inc.’s holdings in STMicroelectronics were worth $3,214,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in STMicroelectronics by 81.4% in the 4th 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 period. Newbridge Financial Services Group Inc. bought a new position in shares of STMicroelectronics in the fourth quarter valued at $31,000. Smartleaf Asset Management LLC grew its holdings in shares of STMicroelectronics by 225.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock valued at $33,000 after buying an additional 921 shares during the last quarter. 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 acquiring an additional 1,180 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of STMicroelectronics in the 4th quarter worth about $53,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Up 7.0 %

Shares of NYSE:STM opened at $23.31 on Friday. STMicroelectronics has a 1 year low of $17.25 and a 1 year high of $45.39. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. The stock’s 50-day moving average is $23.10 and its 200 day moving average is $24.74. The company has a market cap of $20.94 billion, a PE ratio of 14.04, a P/E/G ratio of 1.16 and a beta of 1.56.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Sell-side analysts anticipate that STMicroelectronics will post 0.85 EPS for the current year.

Analysts Set New Price Targets

STM has been the subject of a number of research analyst reports. TD Cowen downgraded STMicroelectronics from a “buy” rating to a “hold” rating and decreased their price target for the company from $32.00 to $25.00 in a research report on Monday, January 13th. Bank of America cut shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Sanford C. Bernstein lowered 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 report on Wednesday, February 5th. Jefferies Financial Group raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Susquehanna lowered their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.26.

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.