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STMicroelectronics (STM) Receives a Hold from Goldman Sachs

Tipranks - Tipranks - Fri Jun 12, 7:24AM CDT

In a report released today, Alexander Duval from Goldman Sachs maintained a Hold rating on STMicroelectronics, with a price target of €58.00.

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In addition to Goldman Sachs, STMicroelectronics also received a Hold from Bank of America Securities’s Didier Scemama in a report issued on June 5. However, yesterday, Bank of America Securities upgraded STMicroelectronics (NYSE: STM) to a Buy.

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Based on STMicroelectronics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.1 billion and a net profit of $37 million. In comparison, last year the company earned a revenue of $2.52 billion and had a net profit of $56.07 million

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