Modera Wealth Management LLC Sells 34,512 Shares of STMicroelectronics (NYSE:STM)

Modera Wealth Management LLC lowered its holdings in shares of STMicroelectronics (NYSE:STM) by 20.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,228 shares of the semiconductor producer’s stock after selling 34,512 shares during the quarter. Modera Wealth Management LLC’s holdings in STMicroelectronics were worth $3,277,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp increased its stake in STMicroelectronics by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock worth $228,655,000 after purchasing an additional 1,719,257 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of STMicroelectronics by 674.2% during the third quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock worth $41,524,000 after acquiring an additional 1,216,300 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of STMicroelectronics during the third quarter worth $1,924,000. Shariaportfolio Inc. acquired a new stake in shares of STMicroelectronics during the fourth quarter worth $1,584,000. Finally, ABC Arbitrage SA bought a new stake in shares of STMicroelectronics in the fourth quarter valued at about $1,543,000. Institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

STM has been the subject of a number of research reports. Morgan Stanley upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a report on Thursday, February 13th. Susquehanna lowered their price objective on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a report on Friday, January 31st. Barclays lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Finally, Bank of America cut shares of 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 assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.26.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $24.71 on Monday. 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 business’s 50 day moving average price is $24.78 and its two-hundred day moving average price is $26.70. The company has a market cap of $22.32 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.16 and a beta of 1.51. STMicroelectronics has a twelve month low of $21.36 and a twelve month high of $49.05.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share 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, analysts predict that STMicroelectronics will post 0.85 EPS 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.