Movement Alert｜STMicroelectronics NV Falls 5.09% in Pre-Market Trading, Goldman Sachs Cuts Target Price Amid Broad Semiconductor Selloff

Market Focus07-28

On July 28, STMicroelectronics NV fell 5.09% in pre-market trading, trading at $50.73/share, with turnover of $5.03 million.

On the news front, Goldman Sachs lowered its target price on STMicroelectronics NV from $67.5 to $60.5, a reduction of approximately 10.4%. The downgrade renewed bearish sentiment just days after the stock plunged over 18% on July 23 when Q3 revenue guidance of approximately $3.7 billion came in below the analyst consensus of $3.79 billion. While Berenberg had raised its target to 68 euros from 53 euros on July 27, citing confidence in cyclical recovery and AI growth prospects, Goldman Sachs' cut effectively offset that support.

Additionally, the broader semiconductor sector faced heavy selling pressure. Within the sector, Micron Technology declined 6.5%, SK hynix fell 5.61%, Intel dropped 4.77%, and Advanced Micro Devices lost 4.34%, reflecting industry-wide weakness that compounded the stock-specific headwinds.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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