Grantham Mayo Van Otterloo & Co. LLC Trims Stock Position in STMicroelectronics (NYSE:STM)

Grantham Mayo Van Otterloo & Co. LLC decreased its holdings in STMicroelectronics (NYSE:STM) by 23.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,785,535 shares of the semiconductor producer’s stock after selling 539,269 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in STMicroelectronics were worth $44,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Stifel Financial Corp raised its position in STMicroelectronics by 0.7% in the third quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer’s stock worth $2,048,000 after acquiring an additional 493 shares during the period. GAMMA Investing LLC increased its stake in shares of STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 531 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in STMicroelectronics by 4.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,280 shares of the semiconductor producer’s stock worth $307,000 after purchasing an additional 539 shares during the period. Crossmark Global Holdings Inc. lifted its position in STMicroelectronics by 1.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 65,561 shares of the semiconductor producer’s stock valued at $1,637,000 after purchasing an additional 749 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in STMicroelectronics by 108.3% during the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock valued at $46,000 after purchasing an additional 809 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Down 5.3 %

NYSE STM opened at $18.49 on Friday. The stock has a 50 day moving average price of $24.08 and a 200-day moving average price of $25.65. STMicroelectronics has a one year low of $18.05 and a one year high of $45.39. The company has a market capitalization of $16.61 billion, a P/E ratio of 11.14, a P/E/G 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 released 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%. As a group, equities analysts predict that STMicroelectronics will post 0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on STM. Sanford C. Bernstein downgraded STMicroelectronics from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $33.00 to $26.00 in a research note on Wednesday, February 5th. Susquehanna decreased 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. TD Cowen lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $32.00 to $25.00 in a research report on Monday, January 13th. Bank of America downgraded shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Finally, Barclays downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, STMicroelectronics presently has a consensus 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.