Main Management ETF Advisors LLC Sells 4,160 Shares of STMicroelectronics (NYSE:STM)

Main Management ETF Advisors LLC lowered its holdings in STMicroelectronics (NYSE:STM) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,280 shares of the semiconductor producer’s stock after selling 4,160 shares during the quarter. Main Management ETF Advisors LLC’s holdings in STMicroelectronics were worth $1,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 1,939,088 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of STMicroelectronics by 576.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer’s stock worth $47,962,000 after buying an additional 1,636,707 shares in the last quarter. Invesco Ltd. lifted its position in shares of STMicroelectronics by 94.4% during the 4th quarter. Invesco Ltd. now owns 1,767,787 shares of the semiconductor producer’s stock worth $44,142,000 after buying an additional 858,624 shares during the period. Barclays PLC boosted its stake in STMicroelectronics by 22.1% in the 4th quarter. Barclays PLC now owns 1,281,006 shares of the semiconductor producer’s stock valued at $31,987,000 after buying an additional 231,668 shares in the last quarter. Finally, Brandes Investment Partners LP bought a new stake in STMicroelectronics in the fourth quarter valued at $15,570,000. Institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Sanford C. Bernstein cut STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $33.00 to $26.00 in a report on Wednesday, February 5th. TD Cowen lifted their price target on shares of STMicroelectronics from $18.00 to $23.00 and gave the company a “hold” rating in a report on Friday, April 25th. Barclays lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of STMicroelectronics in a report on Friday, April 25th. Finally, Dbs Bank downgraded STMicroelectronics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $30.97.

STMicroelectronics Stock Performance

Shares of STMicroelectronics stock opened at $26.12 on Wednesday. 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 firm has a 50 day simple moving average of $22.49 and a 200 day simple moving average of $24.33. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $45.39. The firm has a market cap of $23.46 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.16 and a beta of 1.53.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 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 company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Sell-side analysts predict that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

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.