JUL 11, 2017 | 06:49 EDT
JPMorgan analyst Sandeep Deshpande upgraded STMicroelectronics (STM) to Overweight citing the stock's underperformance over the past three months. The analyst believes the market is underestimating the company's second half of 2017 potential. The 3D sensing win at Apple (AAPL) and silicon carbide win at Tesla (TSLA) are likely to drive positive earnings estimate revisions in 2018, Deshpande tells investors in a research note. He has a EUR 16.30 price target for the shares.
39 Chemin du Champ des Filles
Plan-Les-Ouates C P 21
Geneva, 1228 Switzerland
Phone: 41 22 929 29 29
STMicroelectronics N.V., an independent semiconductor company, designs, develops, manufactures, and markets a range of semiconductor integrated circuits (ICs) and discrete devices.
Its products include discrete and standard commodity components, microcontrollers, electrically erasable programmable read-only memory products, Smartcard products, application-specific integrated circuits, custom devices and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications.
The company also offers subsystems and modules for the telecommunications, automotive, and industrial markets, including mobile phone accessories, battery chargers, ISDN power supplies, and in-vehicle equipment for electronic toll payment.
Its products are used in various microelectronic applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation, and control systems.
The company sells its products through distributors and retailers.
It has a collaboration agreement with Mentor Graphics Corp. STMicroelectronics N.V. was founded in 1987 and is headquartered in Geneva, Switzerland.
STMICROELECTRONICS (Paris: STM.PA) http://finance.yahoo.com/q?s=STM.PA