Movement Alert｜STMicroelectronics Rises 3.16% in Pre-Market Trading, JP Morgan Raises Target Price Nearly 49% as MCU Price Hike Takes Effect

Market Focus

Jun 29

On June 29, STMicroelectronics rose 3.16% in pre-market trading, trading at $73.86 per share, with turnover of $4.83 thousand.

On the news front, JP Morgan significantly raised its target price for STMicroelectronics from €48 to €71.5, representing a nearly 49% increase. Simultaneously, the company's second MCU price hike of the year officially took effect on June 28. Bank of America Global Research had also previously raised its target price from €86 to €88, with multiple investment banks turning bullish in tandem with the pricing action.

The MCU price increase is driven by persistently tight mature-node capacity and wafer foundry cost increases of up to 15%. Industry peers including NXP and Infineon have followed suit with their own price hikes, signaling a sector-wide repricing that is expected to directly improve the company's revenue outlook. In the broader Semiconductors sector, Micron Technology rose 2.27%, NVIDIA rose 1.28%, AMD rose 1.35%, Broadcom rose 1.18%, and Intel rose 0.92%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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