STMicroelectronics Shares Surge 4% and Lead the CAC 40
The Franco-Italian semiconductor manufacturer has recovered from its Tuesday slump and is now leading the Parisian index. The rebound is part of a broader buying wave in European semiconductor stocks, fueled by Nvidia's strength on Wall Street. However, the stock remains distant from its recent peaks.
STMicroelectronics Leads the CAC 40 Following Semiconductor Sector
STMicroelectronics stock has risen by 3.9% to €60.77, marking the highest increase in the CAC 40 during the session, while the Parisian index itself only saw a 0.14% increase. This movement is part of a clear sectoral dynamic: ASML went up by 1.91% and ASM International by 3.17%, while Nvidia had gained 3.65% on Wall Street the previous day. The stock thus erases the 5% drop suffered on Tuesday, which had relegated it to the bottom of the index.
Despite this rebound, the weekly balance remains negative at -2.57%, and the stock has lost nearly 7% over a month. However, the three-month performance remains impressive at nearly 89%, and almost 120% over a year.
Stock Moves Below its 20-Day Moving Average but Maintains a Wide Cushion on its Longer Averages
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Following the rebound, the price remains below the 20-day moving average (€64.55, a gap of -5.86%), indicating that the recent correction has not yet been fully absorbed. Conversely, the stock maintains a comfortable margin over its longer averages, with the 50-day moving average at €53.94 (+12.66%) and the 200-day at €31.91, more than 90% below the current price. The RSI at 54 has moved back into the neutral zone, away from the overheating levels observed in June when it crossed €70.
From a valuation standpoint, according to the consensus of analysts surveyed, the stock is trading at about 52.9 times the earnings expected this year and 27.1 times those of the next fiscal year. The resistance identified at €69.39 remains the next technical marker to watch, while the support at €52.15 frames the lower zone.
Jean-Marc Chéry, Président du Directoire et Directeur Général de ST, a déclaré :
Risks mentioned
Diminution des charges liées aux capacités non utilisées.
Changements éventuels des tarifs douaniers globaux.
Opportunities identified
Contribution de l'activité capteurs MEMS de NXP au chiffre d'affaires net.
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