UPDATE: Williams Financial Group Upgrades STMicroelectronics to Hold on Positive But Cautious Trends
Williams Financial Group raises its rating on STMicroelectronics (NYSE: STM) from Sell to Hold.
Williams Financial Group notes, "STMicroelectronics (STM, Hold, $5.07) looks to be seeing similar trends to many of its large diversified chip peers, in that bookings and backlog are generally stable and growing, while customer sentiment has turned more cautious and concerned over the past several weeks."
As of Thursday's close, STM traded at $5.07, near the bottom of its 12-month range.
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Tags: Williams Financial Group