Among the CAC 40's largest declines, STMicroelectronics shares fall nearly 2%
The semiconductor manufacturer ranks among the bottom performers of the CAC 40 while the Paris index advances slightly. This decline occurs on the day the Supervisory Board announces its intention to extend its chief executive, and as Oddo BHF revises its price target.
Oddo BHF target lowered to €70 and Jean-Marc Chéry's mandate to be renewed
STMicroelectronics loses 1.85% to €44.72 and ranks among the CAC 40's largest decliners, which gains 0.27% in trading. Over the week, the decline reaches 12.09%, but the stock remains up 86.53% over one year. Oddo BHF has lowered its price target from €72 to €70, with an outperform opinion. This target leaves an upside potential of approximately 56% compared to the current price.
On the governance front, the group announced on October 13 that its Supervisory Board had requested the renewal of Jean-Marc Chéry for one year. The executive agreed, and shareholders will vote at the 2027 Annual General Meeting. For details on revisions, see the analyst consensus.
The stock falls below its 20 and 50-day moving averages, the 200-day MA remains below
The stock now trades below its 20-day MA (€46.30, down 3.41%) and its 50-day MA (€45.52, down 1.76%), following a September that had seen it rebound. The 200-day MA, at €42.55, remains the closest medium-term support level below the price, with a buffer of 5.10%. The decline mirrors its peers: ASML falls 1.22% and ASM International 1.71% on Tuesday.
These two stocks are nonetheless up 5.29% and 3.78% over one month, while STMicroelectronics stagnates at +0.1%. The support at €41.74 is the next level to monitor should the decline continue.
