STMicroelectronics (NYSE:STM) Short Interest Update

STMicroelectronics (NYSE:STM) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 9,230,000 shares, a drop of 35.6% from the February 28th total of 14,330,000 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 6,900,000 shares, the days-to-cover ratio is currently 1.3 days.

Analysts Set New Price Targets

A number of research firms have issued reports on STM. Jefferies Financial Group raised STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. BNP Paribas started coverage on shares of STMicroelectronics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 target price for the company. Bank of America cut shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Susquehanna cut their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.26.

Institutional Trading of STMicroelectronics

Institutional investors have recently added to or reduced their stakes in the stock. Clear Creek Financial Management LLC acquired a new stake in shares of STMicroelectronics during the 4th quarter valued at approximately $468,000. Point72 Asset Management L.P. acquired a new stake in shares of STMicroelectronics in the 3rd quarter worth about $1,924,000. Callan Family Office LLC bought a new stake in STMicroelectronics in the 4th quarter valued at about $486,000. Schechter Investment Advisors LLC acquired a new position in STMicroelectronics during the 4th quarter valued at about $758,000. Finally, Diversified Trust Co bought a new position in STMicroelectronics in the 4th quarter worth about $583,000. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Stock Down 3.1 %

NYSE:STM traded down $0.71 on Friday, reaching $22.17. The stock had a trading volume of 6,273,037 shares, compared to its average volume of 4,996,446. The company has a 50-day moving average of $24.56 and a 200 day moving average of $25.88. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The stock has a market cap of $19.91 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. STMicroelectronics has a 12-month low of $21.36 and a 12-month high of $45.39.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, beating 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%. On average, research analysts predict 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.