STMicroelectronics target raised to $26 at Craig Hallum -- It's not just Apple
Craig Hallum raises their STM tgt to $26 from $21. STM reported results slightly above estimates with guidance also better than expectations. Firm continues to like shares and believe investors need to own this well diversified company. Many investors might think STM is only a 3D sensing play on Apple (AAPL) and miss the underlying strength across all of its business segments. STM's Q4 guide calls for all four business segments to be up and above normal seasonality. They believe investors continue to miss STM's SiC opportunity that is just beginning to ramp, with a significant runway ahead.