Short Interest in STMicroelectronics (NYSE:STM) Decreases By 14.4%

STMicroelectronics (NYSE:STM) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 14,330,000 shares, a decline of 14.4% from the February 13th total of 16,740,000 shares. Based on an average daily volume of 6,890,000 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Bank of America downgraded STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Morgan Stanley upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Finally, Sanford C. Bernstein cut STMicroelectronics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $33.00 to $26.00 in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, STMicroelectronics currently has a consensus rating of “Hold” and a consensus price target of $31.26.

STMicroelectronics Stock Down 4.2 %

Shares of STMicroelectronics stock opened at $24.41 on Friday. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 12 month low of $21.36 and a 12 month high of $45.39. The business has a fifty day simple moving average of $24.70 and a 200 day simple moving average of $26.17. The stock has a market cap of $21.92 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Research analysts predict that STMicroelectronics will post 0.85 EPS for the current year.

Institutional Investors Weigh In On STMicroelectronics

A number of institutional investors have recently made changes to their positions in STM. Clear Creek Financial Management LLC acquired a new position in STMicroelectronics in the fourth quarter valued at about $468,000. Point72 Asset Management L.P. acquired a new position in STMicroelectronics in the third quarter valued at about $1,924,000. Callan Family Office LLC acquired a new position in STMicroelectronics in the fourth quarter valued at about $486,000. Schechter Investment Advisors LLC acquired a new position in STMicroelectronics in the fourth quarter valued at about $758,000. Finally, Diversified Trust Co acquired a new position in STMicroelectronics in the fourth quarter valued at about $583,000. 5.05% of the stock is owned by institutional investors and hedge funds.

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.