On July 31, STMicroelectronics NV rose 7.18% overnight, trading at 55.42 USD/share, with turnover of $1.51 million. The stock continued its strong recovery as the broader semiconductor sector extended a collective rebound.
On the news front, STMicroelectronics NV had previously plunged over 17% on July 23 after its Q3 revenue guidance of approximately $3.7 billion fell short of analyst expectations of $3.79 billion. However, the company's Q2 results significantly beat estimates, with adjusted EPS of $0.31 versus the $0.27 consensus, and revenue of $3.49 billion representing a 26% year-over-year increase. The company also raised its AI data center business revenue target to over $1 billion and indicated Q4 revenue could exceed $4 billion. Berenberg subsequently raised its target price from 53 euros to 68 euros, reflecting institutional confidence in the cyclical recovery and AI growth trajectory. The oversold correction combined with sector-wide momentum has driven the ongoing recovery.
(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.)
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