STMicroelectronics (NYSE:STM) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its stake in STMicroelectronics (NYSE:STM - Free Report) by 59.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,699 shares of the semiconductor producer's stock after selling 189,206 shares during the quarter. Envestnet Asset Management Inc.'s holdings in STMicroelectronics were worth $3,214,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of STM. JPMorgan Chase & Co. increased its stake in STMicroelectronics by 131.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer's stock worth $85,232,000 after buying an additional 1,939,088 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in STMicroelectronics by 576.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer's stock valued at $47,962,000 after purchasing an additional 1,636,707 shares during the last quarter. Brandes Investment Partners LP purchased a new position in STMicroelectronics in the 4th quarter valued at $15,570,000. Sei Investments Co. boosted its stake in STMicroelectronics by 982.0% during the 4th quarter. Sei Investments Co. now owns 262,088 shares of the semiconductor producer's stock worth $6,543,000 after purchasing an additional 237,865 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of STMicroelectronics during the fourth quarter worth $1,738,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America cut shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Barclays lowered shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of STMicroelectronics in a research report on Friday. Susquehanna lowered their price target on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating for the company in a report on Friday, January 31st. Finally, Sanford C. Bernstein lowered shares of STMicroelectronics from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $33.00 to $26.00 in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, STMicroelectronics currently has a consensus rating of "Hold" and an average target price of $30.97.

STMicroelectronics Stock Performance

NYSE:STM traded down $0.63 during mid-day trading on Wednesday, reaching $22.35. The stock had a trading volume of 551,673 shares, compared to its average volume of 5,491,980. STMicroelectronics has a twelve month low of $17.25 and a twelve month high of $45.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The business has a 50 day simple moving average of $22.90 and a 200 day simple moving average of $24.62. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.16 and a beta of 1.56.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.55 billion. On average, analysts expect that STMicroelectronics will post 0.85 earnings per share 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.