New Buy Rating for STMicroelectronics (STM), the Technology Giant

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Rakesh covers the Technology sector, focusing on stocks such as Micron, Intel, and Dell Technologies. According to TipRanks, Rakesh has an average return of 68.9% and a 71.40% success rate on recommended stocks.

In addition to Mizuho Securities, STMicroelectronics also received a Buy from Robert W. Baird’s Tristan Gerra in a report issued on May 6. However, on May 3, TD Cowen maintained a Hold rating on STMicroelectronics (NYSE: STM).

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