Grantham Mayo Van Otterloo & Co. LLC Decreases Stock Position in STMicroelectronics N.V. $STM

Key Points

• Grantham Mayo Van Otterloo & Co. LLC cut its stake by 45.9%, selling 717,730 shares in Q3 and finishing the quarter with 846,459 shares of STM worth about $23.92 million (roughly 0.09% of the company).
• STMicroelectronics missed quarterly EPS ($0.11 vs. $0.27 consensus), reported thin margins and low ROE, and its shares opened down ~5.7% at $31.41; the stock trades with a market cap near $28.2 billion and a P/E around 174.5.
• Analysts are mixed (average rating: "Hold", average target $31.93), even as other institutions like AQR, Envestnet and Amundi added or initiated positions; hedge funds and institutional investors own about 5.05% of the stock.

Grantham Mayo Van Otterloo & Co. LLC cut its stake in STMicroelectronics N.V. (NYSE:STM - Free Report) by 45.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 846,459 shares of the semiconductor producer's stock after selling 717,730 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.09% of STMicroelectronics worth $23,921,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of STM. Amundi purchased a new stake in shares of STMicroelectronics in the first quarter valued at $947,000. AQR Capital Management LLC boosted its stake in shares of STMicroelectronics by 182.8% during the 1st quarter. AQR Capital Management LLC now owns 32,094 shares of the semiconductor producer's stock worth $705,000 after purchasing an additional 20,745 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of STMicroelectronics by 136.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 278,766 shares of the semiconductor producer's stock worth $8,477,000 after purchasing an additional 160,874 shares during the period. Bank of Montreal Can grew its holdings in STMicroelectronics by 10.2% during the 2nd quarter. Bank of Montreal Can now owns 150,170 shares of the semiconductor producer's stock valued at $4,567,000 after purchasing an additional 13,874 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in STMicroelectronics by 114.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,509 shares of the semiconductor producer's stock valued at $76,000 after purchasing an additional 1,338 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Stock Down 5.7%

Shares of STM opened at $31.41 on Monday. The firm has a fifty day moving average price of $30.31 and a 200-day moving average price of $27.58. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $28.21 billion, a P/E ratio of 174.51 and a beta of 1.55. STMicroelectronics N.V. has a 12-month low of $17.25 and a 12-month high of $35.07.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The semiconductor producer reported $0.11 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.16). STMicroelectronics had a return on equity of 2.70% and a net margin of 1.41%.The company had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.29 billion. Equities research analysts expect that STMicroelectronics N.V. will post 0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings downgraded shares of STMicroelectronics from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday. Susquehanna upped their target price on STMicroelectronics from $35.00 to $40.00 and gave the company a "positive" rating in a research note on Monday, February 23rd. Finally, Mizuho set a $28.00 price target on STMicroelectronics in a report on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $31.93.

STMicroelectronics Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST's offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.

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