Cresset Asset Management LLC Decreases Stock Position in STMicroelectronics (NYSE:STM)

Cresset Asset Management LLC reduced its stake in STMicroelectronics (NYSE:STM - Free Report) by 59.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,715 shares of the semiconductor producer's stock after selling 21,206 shares during the period. Cresset Asset Management LLC's holdings in STMicroelectronics were worth $367,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Clear Creek Financial Management LLC purchased a new position in shares of STMicroelectronics during the 4th quarter worth approximately $468,000. Callan Family Office LLC bought a new position in STMicroelectronics in the fourth quarter worth $486,000. Raymond James Financial Inc. bought a new position in STMicroelectronics in the fourth quarter worth $1,738,000. Schechter Investment Advisors LLC bought a new stake in shares of STMicroelectronics during the 4th quarter valued at $758,000. Finally, J2 Capital Management Inc purchased a new stake in shares of STMicroelectronics in the 4th quarter worth about $295,000. 5.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

STM has been the topic of several research reports. Jefferies Financial Group raised shares of STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Dbs Bank downgraded STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Susquehanna reduced their price objective on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein downgraded STMicroelectronics from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. Finally, Morgan Stanley upgraded STMicroelectronics from an "underweight" rating to an "equal weight" rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, STMicroelectronics presently has an average rating of "Hold" and an average target price of $30.97.

STMicroelectronics Stock Performance

Shares of STM traded up $0.02 on Monday, reaching $25.84. The company's stock had a trading volume of 5,047,916 shares, compared to its average volume of 5,664,151. The stock's 50 day simple moving average is $22.51 and its two-hundred day simple moving average is $24.26. 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 $23.21 billion, a P/E ratio of 15.57, a PEG ratio of 1.16 and a beta of 1.53. STMicroelectronics has a 12-month low of $17.25 and a 12-month high of $45.39.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The firm had revenue of $2.52 billion during 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%. Research analysts forecast 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.