On June 26, STMicroelectronics declined 3.18% overnight, trading at $72.23/share, with turnover of $21.51 thousand. The decline came after the stock had surged over 5% in the prior session on the back of a sector-wide rebound and MCU price hike expectations.
The semiconductor sector broadly weakened overnight, reversing the previous day's gains. Among sector peers, Micron Technology fell 5.04%, Marvell Technology dropped 4.32%, Intel declined 3.90%, Advanced Micro Devices lost 2.72%, and NVIDIA slipped 1.85%. The broad-based pullback across semiconductor names suggests profit-taking following the sharp rebound driven by Micron's upbeat earnings results released earlier in the week.
On the fundamental side, STMicroelectronics is set to implement its second MCU price increase of the year on June 28, with peers including NXP and Infineon following suit. The company's next earnings report is scheduled for July 23, with consensus EPS expectations of $0.25.
(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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