STMicroelectronics stock tops the CAC 40 and gains 15.9% in one week
The semiconductor manufacturer takes first place in the Paris index at midday, in a quiet market. This move extends a recent rebound, after several weeks of decline, while its European competitors remain hesitant.
A weekly rebound that erases part of the monthly decline
STMicroelectronics gains 1.44% to €42.95, topping the CAC 40, while the Paris index rises 0.07%. The stock is up 15.9% over one week but still down 5.7% over one month, so the rebound only offsets part of the October slide.
On the moving averages, it has moved back above its 20-day moving average (MM20) at €41.30 (a gap of 4%), while the 50-day moving average (MM50) at €43.79 remains within reach, 1.9% above the share price.
The 200-day moving average (MM200) at €44.75 is higher, 4% away from the share price. The two European peers are not following: ASML is down 0.45% and ASM International 0.58% intraday, after monthly declines of 9.2% and 12.3%.
In the United States, Nvidia lost 4.34% on Thursday on Wall Street, in a sector that remains under pressure, while AMD gained 5.86% the same session.
A Morgan Stanley conference on November 19, an investor day on the 18th
On November 12, the group announced that Jean-Marc Chéry, chairman of the Management Board, will speak on November 19 at the Morgan Stanley European Technology, Media & Telecom conference.
The financial calendar also lists an investor day on November 18. These events follow the third-quarter results published on October 29: revenue rose 17.9% to $3.76 billion, with operating income up from $180 million to $367 million.
For the next fiscal year, the company was then targeting $14.5 billion in revenue. According to the consensus of recorded analysts, the share trades at about 35 times current-year earnings and 18 times next-year earnings. The next concrete milestone is the investor day on November 18.
