Laird Norton Wetherby Wealth Management LLC Sells 693 Shares of STMicroelectronics (NYSE:STM)

Laird Norton Wetherby Wealth Management LLC lessened its stake in shares of STMicroelectronics (NYSE:STM) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,796 shares of the semiconductor producer’s stock after selling 693 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in STMicroelectronics were worth $844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. J. Goldman & Co LP bought a new position in shares of STMicroelectronics during the 4th quarter worth about $2,996,000. FORA Capital LLC boosted its position in shares of STMicroelectronics by 398.7% during the 4th quarter. FORA Capital LLC now owns 88,636 shares of the semiconductor producer’s stock worth $2,213,000 after purchasing an additional 70,863 shares in the last quarter. Deutsche Bank AG boosted its position in shares of STMicroelectronics by 14.5% during the 4th quarter. Deutsche Bank AG now owns 3,682 shares of the semiconductor producer’s stock worth $92,000 after purchasing an additional 466 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of STMicroelectronics during the 4th quarter worth about $2,053,000. Finally, Ameriprise Financial Inc. boosted its position in shares of STMicroelectronics by 3.0% during the 4th quarter. Ameriprise Financial Inc. now owns 408,573 shares of the semiconductor producer’s stock worth $10,202,000 after purchasing an additional 11,993 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

STMicroelectronics stock opened at $26.00 on Thursday. STMicroelectronics has a 52 week low of $17.25 and a 52 week high of $45.39. The company’s 50 day moving average price is $22.48 and its two-hundred day moving average price is $24.35. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. The stock has a market cap of $23.35 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.16 and a beta of 1.53.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.55 billion. On average, equities analysts predict that STMicroelectronics will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STM. Sanford C. Bernstein cut shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $33.00 to $26.00 in a research report on Wednesday, February 5th. Jefferies Financial Group raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. TD Cowen raised their price target on shares of STMicroelectronics from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of STMicroelectronics in a research report on Friday, April 25th. Finally, Morgan Stanley raised shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.97.

STMicroelectronics Company 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.