STMicroelectronics Reports 2016 Fourth Quarter and Full Year Financial Results
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January 27, 2017 6:23 AM EST
JPMorgan upgraded STMicroelectronics (NYSE: STM) from Underweight to Neutral.
For an analyst ratings summary and ratings history on STMicroelectronics click here. For more ratings news on STMicroelectronics click here.
Shares of STMicroelectronics closed at $12.93 yesterday.
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January 26, 2017 9:31 AM EST
STMicroelectronics N.V. (NYSE: STM) is gaining 5% in pre-open trade after the company reported Q4 EPS of $0.13, in-line with the analyst estimate of $0.13. Revenue for the quarter came in at $1.86 billion versus the consensus estimate of $1.86 billion.
"In the fourth quarter we continued to see sustained demand, resulting in revenues and gross margin better than the midpoint of our guidance. Net revenues grew 3.5% sequentially and 11.5% year-over-year; our gross margin of 37.5% increased substantially both sequentially and year-over-year," commented Carlo Bozotti, STMicroelectronics President and Chief Executive Officer.
"In 2016, revenues grew 1.1% compared to... More
