STMicroelectronics (STM) Falls on Weak Industry Outlook

We recently published Wall Street’s 10 Worst Performing Stocks. STMicroelectronics N.V. (NYSE:STM) is one of the worst performers on Wednesday.

STMicroelectronics dropped its share prices by 4.91 percent on Wednesday to close at $31.77 apiece as investors unloaded positions ahead of the release of its second quarter earnings performance.

STMicroelectronics N.V. (NYSE:STM) is scheduled to announce the results of its financial and operating highlights before market open on Thursday, July 24, where analysts expect the company to report $2.77 billion in revenues and earnings per share of $0.10.

Additionally, investors remained cautious amid President Donald Trump’s threat last week that he would likely impose a new round of tariffs on chips and pharmaceutical products as soon as August 1, the latest deadline for the introduction of his reciprocal levies on other countries.

STMicroelectronics (STM) Falls on Weak Industry Outlook

Close-up of Silicon Die are being Extracted from Semiconductor Wafer and Attached to Substrate by Pick and Place Machine. Computer Chip Manufacturing at Fab. Semiconductor Packaging Process.

In other news, STMicroelectronics N.V. (NYSE:STM) earned a higher price target of $50 and “outperform” rating from investment firm Baird amid improving gross margins, silicon carbide (SiC) revenue, and the clearer path to recovery of industries that it supplies its products.

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