Cresset Asset Management LLC Sells 21,206 Shares of STMicroelectronics (NYSE:STM)

Cresset Asset Management LLC trimmed its stake in STMicroelectronics (NYSE:STM) by 59.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,715 shares of the semiconductor producer’s stock after selling 21,206 shares during the quarter. Cresset Asset Management LLC’s holdings in STMicroelectronics were worth $367,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of STM. Newbridge Financial Services Group Inc. acquired a new stake in shares of STMicroelectronics in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC lifted its holdings in STMicroelectronics by 225.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock worth $33,000 after purchasing an additional 921 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in STMicroelectronics by 197.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 1,180 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in STMicroelectronics during the 4th quarter worth approximately $53,000. Finally, Crews Bank & Trust acquired a new stake in STMicroelectronics during the 4th quarter worth approximately $70,000. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STM has been the subject of several research reports. TD Cowen lifted their price target on STMicroelectronics from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, April 25th. Morgan Stanley upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research report on Friday, April 25th. Barclays lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Finally, Bank of America lowered STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.97.

STMicroelectronics Stock Down 0.5%

Shares of STM opened at $25.95 on Friday. The company has a market capitalization of $23.31 billion, a PE ratio of 15.63, a PEG ratio of 1.16 and a beta of 1.53. STMicroelectronics has a 12 month low of $17.25 and a 12 month high of $45.39. The stock’s 50-day moving average price is $22.50 and its two-hundred day moving average price is $24.33. 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) last announced 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. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.55 billion. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, analysts anticipate that STMicroelectronics will post 0.85 EPS for the current year.

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.