STMicroelectronics (NYSE:STM) Sees Significant Decline in Short Interest

STMicroelectronics (NYSE:STM) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 14,330,000 shares, a drop of 14.4% from the February 13th total of 16,740,000 shares. Based on an average trading volume of 6,890,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.6% of the company’s stock are short sold.

STMicroelectronics Stock Performance

STMicroelectronics stock traded down $0.14 during trading hours on Wednesday, hitting $25.50. 5,219,875 shares of the stock traded hands, compared to its average volume of 4,781,539. The firm’s 50 day moving average price is $24.71 and its 200-day moving average price is $26.18. 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 has a market capitalization of $22.91 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 1.16 and a beta of 1.56. STMicroelectronics has a 1 year low of $21.36 and a 1 year high of $45.39.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, beating 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%. As a group, equities analysts expect that STMicroelectronics will post 0.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. BNP Paribas initiated coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price target for the company. Barclays downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 22nd. Jefferies Financial Group upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. TD Cowen lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $32.00 to $25.00 in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, STMicroelectronics presently has a consensus rating of “Hold” and a consensus price target of $31.26.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in STM. Two Sigma Investments LP grew its position in STMicroelectronics by 19.4% during the 4th quarter. Two Sigma Investments LP now owns 4,475,384 shares of the semiconductor producer’s stock worth $111,750,000 after purchasing an additional 725,684 shares during the period. JPMorgan Chase & Co. raised its position in STMicroelectronics by 131.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer’s stock valued at $85,232,000 after acquiring an additional 1,939,088 shares in the last quarter. Voloridge Investment Management LLC boosted its position in STMicroelectronics by 39.2% in the 4th quarter. Voloridge Investment Management LLC now owns 3,330,616 shares of the semiconductor producer’s stock worth $83,165,000 after purchasing an additional 938,097 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of STMicroelectronics by 576.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer’s stock worth $47,962,000 after purchasing an additional 1,636,707 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of STMicroelectronics by 35.1% during the 4th quarter. Two Sigma Advisers LP now owns 1,886,700 shares of the semiconductor producer’s stock valued at $47,111,000 after purchasing an additional 490,000 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.