Guggenheim Capital LLC Sells 27,331 Shares of STMicroelectronics (NYSE:STM)

Guggenheim Capital LLC reduced its stake in shares of STMicroelectronics (NYSE:STM - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,978 shares of the semiconductor producer's stock after selling 27,331 shares during the period. Guggenheim Capital LLC's holdings in STMicroelectronics were worth $1,872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of STMicroelectronics by 81.4% in the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer's stock worth $30,000 after acquiring an additional 531 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of STMicroelectronics during the fourth quarter worth $31,000. Smartleaf Asset Management LLC raised 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 last quarter. Rakuten Securities Inc. boosted its position in STMicroelectronics by 197.0% during 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 last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of STMicroelectronics in the 4th quarter valued at about $53,000. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on STM shares. TD Cowen lifted their target price on STMicroelectronics from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Friday. Sanford C. Bernstein lowered shares of STMicroelectronics from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $33.00 to $26.00 in a report on Wednesday, February 5th. Barclays cut shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 22nd. Jefferies Financial Group raised STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley raised STMicroelectronics from an "underweight" rating to an "equal weight" rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, STMicroelectronics presently has an average rating of "Hold" and an average price target of $30.97.

STMicroelectronics Stock Performance

Shares of STM traded down $0.06 on Friday, reaching $23.29. 2,935,762 shares of the company's stock traded hands, compared to its average volume of 5,482,829. The stock's 50 day simple moving average is $23.10 and its two-hundred day simple moving average is $24.74. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 52-week low of $17.25 and a 52-week high of $45.39. The stock has a market cap of $20.91 billion, a PE ratio of 14.00, a PEG ratio of 1.16 and a beta of 1.56.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.55 billion. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, 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.