Pequot Capital Cuts Stake in STM Wireless

Pequot Capital Management Inc., a Westport, Conn., investment advisor, has reduced its stake in STM Wireless Inc. to just under 6% from 8.1%, according to a report filed Tuesday with the Securities and Exchange Commission.

Pequot sold 145,429 common shares on March 13 and 14 at prices ranging from $12 to $13.44 a share, and currently holds 426,000 shares of the Irvine provider of satellite communications networks.

STM’s stock closed at $9.75, down 63 cents a share, in Nasdaq trading.