STMicroelectronics NV (NYSE:STM) Sees Significant Drop in Short Interest

STMicroelectronics NV (NYSE:STM) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 5,720,000 shares, a drop of 8.6% from the August 30th total of 6,260,000 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,170,000 shares, the short-interest ratio is currently 2.6 days.

Hedge funds have recently modified their holdings of the business. Joseph P. Lucia & Associates LLC purchased a new position in shares of STMicroelectronics in the second quarter worth about $30,000. Arlington Partners LLC purchased a new position in shares of STMicroelectronics in the second quarter worth about $34,000. Boston Partners purchased a new position in shares of STMicroelectronics in the second quarter worth about $38,000. Parallel Advisors LLC increased its holdings in shares of STMicroelectronics by 555.8% in the second quarter. Parallel Advisors LLC now owns 2,361 shares of the semiconductor producer’s stock worth $42,000 after buying an additional 2,001 shares during the period. Finally, Stonebridge Capital Advisors LLC purchased a new position in shares of STMicroelectronics in the second quarter worth about $62,000. 3.37% of the stock is owned by hedge funds and other institutional investors.

STM stock traded down $0.22 during mid-day trading on Thursday, hitting $21.07. 175,970 shares of the stock were exchanged, compared to its average volume of 2,013,985. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.77 and a quick ratio of 1.90. The business has a fifty day moving average price of $19.34 and a 200 day moving average price of $17.79. STMicroelectronics has a 12 month low of $12.00 and a 12 month high of $21.65. The stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 4.11 and a beta of 1.36.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). STMicroelectronics had a return on equity of 17.59% and a net margin of 11.94%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm earned $0.29 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities analysts forecast that STMicroelectronics will post 1.02 EPS for the current fiscal year.

STM has been the subject of several research analyst reports. Morgan Stanley initiated coverage on STMicroelectronics in a research note on Wednesday, June 19th. They set an “overweight” rating and a $16.11 price objective for the company. Goldman Sachs Group raised STMicroelectronics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $18.60 to $19.20 in a research note on Thursday, August 8th. Zacks Investment Research lowered STMicroelectronics from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of STMicroelectronics in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $18.02.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.

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