STMicroelectronics shares, second-worst performer in the CAC 40 behind Stellantis, fall 1.5%
The semiconductor maker extends its decline early in the afternoon, while the Paris market rises. The drop follows a rebound the previous day and comes a few days before a meeting with the financial community.
A decline that isolates the stock in a rising CAC 40
The STMicroelectronics share falls 1.3% to €41.63 intraday, while the CAC 40 gains 0.61% and the SBF 120 gains 0.56%. Only Stellantis performs worse in the Paris index, at -2.11%. The sector is also trending lower: ASML drops 2.74% in Amsterdam, while ASM International is nearly flat (-0.16%).
US sector stocks had nonetheless risen sharply on Wall Street on Wednesday, with Micron up 11.89% and AMD up 7.32%, which did not prevent the stock from retreating this Thursday. The move extends a broader slide: -10.57% over one month, for only +1.81% over the week.
The share price remains above its 20-day moving average at €41.18 (a gap of 1.08%) but below its 50-day moving average at €43.82, which shows a short-term rebound that has not yet resumed the medium-term trend.
A Morgan Stanley conference on November 19 and an investor day on November 18
In a press release published on November 12, the group announced that Jean-Marc Chéry, Chairman of the Management Board and Chief Executive Officer, will speak on November 19 at the “Morgan Stanley European Technology, Media & Telecom” conference.
The financial calendar also indicates an investor day on November 18. These events follow the publication of third-quarter results on October 29: revenue had then risen 17.9% year-on-year to $3.76 billion, but earnings per share had remained below expectations.
For the future, the group is targeting revenue of $14.5 billion, according to the data from this publication. On the technical side, the stock sits midway between its support at €37.07 and its resistance at €52, with an RSI of 48.
