Morgan Stanley Downgrades STMicroelectronics on Automotive Market Concerns [Yahoo! Finance]
STMicroelectronics N.V. (STM)
Last stmicroelectronics n.v. earnings: 4/22 01:00 am
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Source: Yahoo! Finance
Warning! GuruFocus has detected 3 Warning Sign with STM. From $37.28 the investment firm cut its price estimate on STMicroelectronics to $21.30. Morgan Stanley analysts, including Lee Simpson, led the downgrading by pointing to declining automobile demand and ongoing inventory corrections as main causes for their changed perspective. According to Morgan Stanley's analysis, changes will probably be needed since projections for the automobile industry are somewhat high. From their earlier projection of a 12% gain, analysts are expecting a 6% drop in automobile revenue for fiscal year 2025a negative revision. Driven by demand from customers like Tesla ( TSLA Financials ), the company's silicon carbide sales should help to somewhat offset headwinds in the automotive industry, although the gains are not likely to totally offset the more general difficulties. With gross margins expected below 40%, STMicroelectronics recently offered conservative advice for the fourth and first quarte
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News
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- STMicroelectronics announces long-term targets at Capital Markets Day [Yahoo! Finance]Yahoo! Finance
- Optical Metasurface Market is Predicted to Reach US$ 644.1 Million with Expanding at a CAGR of 16.4% by 2034 | Fact.MR Report [Yahoo! Finance]Yahoo! Finance
STM
Earnings
- 10/31/24 - Beat
STM
Sec Filings
- 11/20/24 - Form 6-K
- 11/18/24 - Form 6-K
- 11/12/24 - Form 6-K
- STM's page on the SEC website