STMicroelectronics Declines in Late Afternoon Following 2025 Results
STMicroelectronics fell by 3.4% to €24.12 this Thursday, January 29th in the late afternoon, following the release of its fourth quarter and full-year 2025 financial statements. The stock thus extends its correction over the past seven days, despite a positive performance of 10.34% over the past three months. The group shows a return to annual revenue growth, but in a context of deteriorating operating profitability that weighs on investor sentiment.
The semiconductor manufacturer has demonstrated a gradual improvement in its business dynamics in the last quarter, marking the restart of its revenue trajectory after several challenging quarters. However, this growth recovery is accompanied by a compression of its operational margins, reflecting an unfavorable industrial cycle affecting several strategic segments of the product portfolio. This tension between sales expansion and profitability decline explains the bearish market reaction, which favors short-term profitability visibility. The sector context remains challenging, as illustrated by the dynamics of equipment manufacturers such as ASML with its €32.7 billion in revenue in 2025, which serves as an important benchmark for assessing the vitality of the ecosystem.
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Technically, the stock is trading close to its 50-day moving average (€22.31), while the Relative Strength Index (RSI) stabilizes at 57, indicating a balance between buyers and sellers without any extreme signals. The resistance at €25.02 remains unattainable for now, with support at €21.81 being the next bearish reference point in case the correction continues. The one-month volatility stands at 11.51%, reflecting ongoing uncertainty. Investors will closely monitor the publication schedule, with the first quarter 2026 results expected on April 23, which will provide the first concrete indicators of the group's profitability trajectory.
« Le chiffre d'affaires du quatrième trimestre a dépassé le milieu de notre prévision et la marge brute a été soutenue par un meilleur mix produit. »
STMicroelectronics a publié ses résultats pour le quatrième trimestre et l'année 2025. Le chiffre d'affaires annuel s'établit à 11,8 milliards de dollars avec une marge brute de 33,9% et un résultat opérationnel de 175 millions de dollars. Le bénéfice net attribuable aux actionnaires pour l'année est de 166 millions de dollars, et le flux de trésorerie disponible (non-U.S. GAAP) pour l'année est de 265 millions de dollars. Pour 2026, le point médian du trimestre est un chiffre d'affaires attendu de 3,04 milliards de dollars et une marge brute d'environ 33,7%.
Risks mentioned
changements dans les politiques commerciales mondiales, y compris les tarifs et barrières commerciaux, susceptibles d'affecter la demande
incertitudes macroéconomiques et inflation, influençant la production et la demande finale
écarts entre la demande client et les projections nécessitant des mesures de transformation
capacité à concevoir, fabriquer et vendre des produits innovants dans un environnement technologique rapide
Outlook / guidance
Expected revenue: Le chiffre d'affaires du premier trimestre 2026 est attendu autour de 3,04 milliards de dollars, en baisse séquentielle d'environ 8,7% et avec une marge brute d'environ 33,7% (plus ou moins 350 pb pour le chiffre d'affaires et plus ou moins 200 pb pour la marge brute).
Management commentary: La direction souligne que les perspectives dépendent des conditions macroéconomiques, des taux de change et du mix produit.
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