STMicroelectronics shares fall 1% and slide 15% over one month
The semiconductor manufacturer is extending its decline after topping the Paris index the day before. A brokerage firm is also adjusting its price target, in a Paris market that is virtually flat.
A 1% decline that brings the stock back below its three moving averages
The stock trades at €42.79 during the session, 1% lower than the previous day, and ranks in the lower part of the CAC 40, in 34th place out of 40, while the index is barely down 0.06%.
The decline puts it back below its 20-day moving average (€43.12, a gap of 0.78%), its 50-day moving average (€44.21, a gap of 3.22%) and its 200-day moving average (€43.99, a gap of 2.74%).
The RSI at 47 remains neutral. Foreign semiconductor stocks are performing worse: Micron fell 5.78% and AMD 7.52% on Monday on Wall Street, while ASML is down 0.26% this Tuesday and ASM International is up 1.11%.
HSBC lowers its target price to €70 a few days after the group's results released on October 29
In its notice published this Tuesday, HSBC cuts its price target from €81 to €70, while maintaining its buy rating. This target places the upside potential at more than 60% relative to the current price.
The brokerage intervenes a few days after the publication of third-quarter results on October 29, with revenue of $3.76 billion, up 17.9% year on year, and operating income of $367 million, more than double the figure of a year earlier.
For the next fiscal year, the company was targeting revenue of 14.5 billion when it published its 9-month 2026 results on October 29, 2026.
