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.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.