Wells Fargo & Company MN Sells 109,148 Shares of STMicroelectronics (NYSE:STM)

Wells Fargo & Company MN decreased its position in shares of STMicroelectronics (NYSE:STM - Free Report) by 40.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 161,522 shares of the semiconductor producer's stock after selling 109,148 shares during the quarter. Wells Fargo & Company MN's holdings in STMicroelectronics were worth $4,033,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of STMicroelectronics by 81.4% during 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 last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of STMicroelectronics during the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC grew its position in shares of STMicroelectronics by 225.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer's stock valued at $33,000 after purchasing an additional 921 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of 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 purchasing an additional 1,180 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of STMicroelectronics in the fourth quarter worth about $53,000. Institutional investors own 5.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of STMicroelectronics in a research note on Friday. Bank of America lowered shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Barclays cut shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 22nd. Morgan Stanley upgraded shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group upgraded shares of STMicroelectronics from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, STMicroelectronics currently has a consensus rating of "Hold" and an average target price of $30.97.

STMicroelectronics Trading Down 0.2 %

Shares of NYSE STM traded down $0.05 during mid-day trading on Friday, reaching $23.29. The company had a trading volume of 6,484,761 shares, compared to its average volume of 5,492,828. The stock has a market cap of $20.92 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. STMicroelectronics has a 52 week low of $17.25 and a 52 week high of $45.39. The business's 50-day moving average is $23.08 and its 200-day moving average is $24.71. 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 (NYSE:STM - Get Free Report) last issued 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. The business had revenue of $2.52 billion for 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%. Equities analysts expect that STMicroelectronics will post 0.85 earnings per share for the current 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.