Bank of America Downgrades STMicroelectronics NV (ADR) to Underperform

Brokerage firm Bank of America Downgrades its rating on STMicroelectronics NV (ADR)(NYSE:STM). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Sep 2, 2016.

STMicroelectronics NV (ADR) (STM) made into the market gainers list on Thursdays trading session with the shares advancing 0.13% or 0.01 points. Due to strong positive momentum, the stock ended at $7.54, which is also near the day’s high of $7.57. The stock began the session at $7.53 and the volume stood at 17,13,364 shares. The 52-week high of the shares is $7.865 and the 52 week low is $5.11. The company has a current market capitalization of $6,660 M and it has 88,32,68,410 shares in outstanding.

STMicroelectronics NV (ADR)(STM) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.70B. Analysts had an estimated revenue of $1.70B. Earnings per share were $0.04. Analysts had estimated an EPS of $0.04.

STMicroelectronics N.V. is a semiconductor company. The Company designs develops manufactures and markets a range of semiconductor products used in applications such as Internet of Things (IoT) and serving many different end markets. The Company operates through two business segments: Sense & Power and Automotive Products (SP&A) and Embedded Processing Solutions (EPS). The SP&A segment consists of product lines such as Automotive (APG) Industrial and Power Discrete (IPD) Analog and MEMS (AMS) and other SP&A. The EPS segment consists of product lines such as Digital Convergence Group (DCG) and Imaging BI-CMOS ASIC and Silicon Photonics (IBP) (DCG and IBP are combined as DPG); Microcontrollers Memory & Secure MCU (MMS) and Other EPS. The Company operates in Semiconductors and Subsystems business areas.

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