STMicroelectronics (NYSE:STM) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its holdings in shares of STMicroelectronics (NYSE:STM - Free Report) by 41.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,221,237 shares of the semiconductor producer's stock after selling 872,289 shares during the quarter. Bank of America Corp DE owned approximately 0.14% of STMicroelectronics worth $30,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of STM. Newbridge Financial Services Group Inc. bought a new stake in STMicroelectronics during the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC boosted its stake in STMicroelectronics by 225.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer's stock worth $33,000 after buying an additional 921 shares during the period. Rakuten Securities Inc. raised its stake in shares of STMicroelectronics by 197.0% in the fourth quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer's stock valued at $44,000 after acquiring an additional 1,180 shares during the period. SBI Securities Co. Ltd. purchased a new stake in STMicroelectronics in the 4th quarter worth about $53,000. Finally, Crews Bank & Trust bought a new position in STMicroelectronics in the 4th quarter valued at $70,000. 5.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. TD Cowen upped their target price on STMicroelectronics from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Friday, April 25th. Dbs Bank cut shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Morgan Stanley raised STMicroelectronics from an "underweight" rating to an "equal weight" rating in a report on Thursday, February 13th. Barclays lowered shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of STMicroelectronics in a research note on Friday, April 25th. One investment 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $30.97.

STMicroelectronics Stock Up 0.2%

Shares of STM traded up $0.04 during mid-day trading on Thursday, reaching $25.29. The company's stock had a trading volume of 2,874,815 shares, compared to its average volume of 5,686,548. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. STMicroelectronics has a 12-month low of $17.25 and a 12-month high of $45.39. The stock has a market cap of $22.72 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. The company's 50 day moving average is $22.59 and its 200 day moving average is $24.28.

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

STMicroelectronics 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.