Movement Alert|STMicroelectronics NV Falls 5.71% in Regular Trading, Goldman Sachs Cuts Target Price Amid Broad Semiconductor Selloff

Market Focus07-28

On July 28, STMicroelectronics NV declined 5.71% in regular trading, trading at $49.86/share, with turnover of $92.9958 million.

On the news front, Goldman Sachs cut STMicroelectronics NV's target price from $67.5 to $60.5, a reduction of approximately 10.4%, further dampening market sentiment. Although Berenberg had previously raised its target price significantly from 53 euros to 68 euros, Goldman's downgrade interrupted the stock's valuation recovery momentum.

The decline was compounded by a broad semiconductor sector selloff. Among sector peers, Micron Technology fell 9.28%, Advanced Micro Devices dropped 7.83%, SK hynix declined 7.36%, Intel slid 5.9%, and NVIDIA lost 1.11%, reflecting industry-wide selling pressure that amplified the stock's individual weakness.

The stock had already plunged over 18% on July 23 after Q3 revenue guidance of approximately $3.7 billion came in below analysts' consensus estimate of $3.79 billion, despite Q2 adjusted EPS of $0.31 beating expectations by nearly 15%.

(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.

Comments

We need your insight to fill this gap
Leave a comment