Grantham Mayo Van Otterloo & Co. LLC Sells 539,269 Shares of STMicroelectronics (NYSE:STM)

Grantham Mayo Van Otterloo & Co. LLC lowered its position in STMicroelectronics (NYSE:STM) by 23.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,785,535 shares of the semiconductor producer’s stock after selling 539,269 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.20% of STMicroelectronics worth $44,585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in STMicroelectronics by 54.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 40,501 shares of the semiconductor producer’s stock worth $1,204,000 after purchasing an additional 14,296 shares in the last quarter. Cerity Partners LLC increased its stake in shares of STMicroelectronics by 20.1% in the 3rd quarter. Cerity Partners LLC now owns 26,921 shares of the semiconductor producer’s stock worth $800,000 after acquiring an additional 4,509 shares in the last quarter. Verition Fund Management LLC increased its stake in shares of STMicroelectronics by 308.8% in the 3rd quarter. Verition Fund Management LLC now owns 9,463 shares of the semiconductor producer’s stock worth $281,000 after acquiring an additional 13,996 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in STMicroelectronics during the 3rd quarter valued at about $1,924,000. Finally, Stifel Financial Corp boosted its stake in STMicroelectronics by 0.7% during the third quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer’s stock worth $2,048,000 after acquiring an additional 493 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Jefferies Financial Group raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research note on Thursday, February 13th. Susquehanna dropped their target price on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a report on Friday, January 31st. Barclays downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 22nd. Finally, TD Cowen cut shares of STMicroelectronics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $32.00 to $25.00 in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.26.

STMicroelectronics Price Performance

Shares of NYSE:STM opened at $18.49 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. The business has a 50-day simple moving average of $24.08 and a two-hundred day simple moving average of $25.65. STMicroelectronics has a fifty-two week low of $18.05 and a fifty-two week high of $45.39.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results 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 net margin of 11.74% and a return on equity of 8.92%. On average, analysts expect that STMicroelectronics will post 0.85 earnings per share 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.