Rafferty Asset Management LLC Sells 112,803 Shares of STMicroelectronics (NYSE:STM)

Rafferty Asset Management LLC decreased its position in shares of STMicroelectronics (NYSE:STM) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 2,224,813 shares of the semiconductor producer’s stock after selling 112,803 shares during the quarter. Rafferty Asset Management LLC’s holdings in STMicroelectronics were worth $55,554,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in STMicroelectronics by 81.4% during 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 during the last quarter. Newbridge Financial Services Group Inc. bought a new position in STMicroelectronics during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its holdings in STMicroelectronics by 225.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock worth $33,000 after purchasing an additional 921 shares during the last quarter. Rakuten Securities Inc. raised its holdings in STMicroelectronics by 197.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 1,180 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in STMicroelectronics during the 4th quarter worth approximately $53,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

STM opened at $26.00 on Thursday. 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 company has a market capitalization of $23.35 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 1.16 and a beta of 1.53. The firm’s fifty day moving average price is $22.48 and its two-hundred day moving average price is $24.35. STMicroelectronics has a 1 year low of $17.25 and a 1 year high of $45.39.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on STM. Barclays downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Susquehanna reduced their price objective on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of STMicroelectronics in a research report on Friday, April 25th. Finally, Morgan Stanley raised shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.97.

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.