STMicroelectronics NV (NYSE:STM) shares tumbled ~12–15% after a Q2 miss and softer automotive/industrial demand, even as the company raised AI revenue targets for 2026–27, struck a supply deal with Amazon, saw Susquehanna stay positive, and repurchased shares to cover awards.
Previous Week Recap
- STM Slump On Revenue Outlook: STM plunged ~12–15% over several sessions after quarterly results and a Q3 revenue outlook missed expectations; company cited slower recovery in automotive and industrial end markets.
- AI Revenue Targets Raised To 1B+ 2026, 2B+ 2027; Amazon Deal: STMicroelectronics raised AI-related revenue targets to $1B+ for 2026 and $2B+ for 2027, and announced a multi‑year deal to supply semiconductors, including power‑management chips, to Amazon.
- Susquehanna Maintains Positive STMicroelectronics NV: Susquehanna maintained a positive rating on STMicroelectronics NV (STM) in its latest update; no additional details on target price, coverage changes, or timing were provided in the summary.
- STM Share Repurchase 199,413 Shares: STM repurchased 199,413 shares July 13–17 at €57.2549, spending €11.42M. Treasury stock now 19,177,711 shares (~2.1%). Shares bought to cover option and employee awards.
This is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original sources.