Gain detailed insights into the trading activity of Congress members for STMicroelectronics on our government trades page. Stay updated on how elected officials are investing in STM.

STMicroelectronics - Government Trades

STMicroelectronics

A merger between Italian firm SGS Microelettronica and the nonmilitary business of Thomson Semiconductors in France formed STMicroelectronics in 1987. STMicroelectronics is a leader in a variety of semiconductor products, including analog chips, discrete power semiconductors, microcontrollers, and sensors. It is an especially prominent chip supplier to the industrial and automotive industries.

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10 worst-performing large-cap stocks last week: GME, ENPH, ALB, BNTX, ALGN, FLSR, BALL, MBLY, BLD, JBL. Are they in your portfolio?

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Vanda Pharmaceuticals And Other Big Stocks Moving Lower In Thursday&#39;s Pre-Market Session

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This Kroger Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday

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STMicroelectronics &amp; Geely signed SiC supply deal for electric vehicles, also collaborating on solutions for automotive electronics &amp; new energy vehicles.

STMicroelectronics Stock Gains After EV Deal With Geely Auto - What&#39;s Going On?

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The European Commission has approved Italian state aid to support STMicroelectronics in building a €5 billion plant in Catania, Sicily. This facility will produce energy-efficient silicon carbide chips for electric vehicles. The aid includes a €2 billion direct grant. This move aims to strengthen Europe&#39;s semiconductor ecosystem and reduce reliance on imports, aligning with digital and green transition goals.

European Commission Backs Italian State Aid To STMicroelectronics&#39;  Chip Plant: Details

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AMD claims 33% share in server CPU market, prepares for launch of new processors &amp; unveils GPU roadmap. CFO highlights partnerships &amp; growth in all segments.

AMD Grabs 33% of Server CPU Market and Prepares for Major Processor Launch: Report

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With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.

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U.S. House of Representatives passes bill that could lead to TikTok ban, Microsoft launched Phi-3 Mini, and more.

Let&#39;s Spill The Tea: Top Consumer Tech News From Last Week That You Should Know (April 21-27, 2024)

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STM reported 18.4% revenue decline in Q1 2024, missed consensus estimates. Margins decreased and outlook for Q2 and 2024 is lower than expected.

Not All Chipmakers Are Doing Great; STMicroelectronics Lowers Annual Outlook After Q1 Performance

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The back-and-forth motion in the market continues, with the index futures pointing to a lower opening on Thursday. Meta Platforms, Inc.’s (NASDAQ:META) 

US Stocks Brace For Negative Start Amid Tech Earnings Disappointments, Caution Ahead Of Data: &#39;Worst Of This Two-Week Decline Is Behind Us,&#39; Says Analyst

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These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares lost 18.61% in the last week following <a href="https://www.benzinga.com//node/39408371">its annual shareholder</a> meeting, where CEO Ryan Cohen emphasized a strategic pivot towards profitability <a href="https://www.benzinga.com/news/24/06/39364816/why-are-gamestop-shares-moving-monday">through cost reduction</a>.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) shares declined 17.60% after JP Morgan maintained an Overweight rating on the stock but lowered <a href="https://www.benzinga.com//node/39413327" target="_blank" rel="noreferrer noopener">its price target from $128 to $124</a>.</li>
<li>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>)<a href="https://www.benzinga.com//node/39336520" target="_blank" rel="noreferrer noopener"> stock decreased 11.53%</a>.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) stock fell 10.49% in the last week after the FDA <a href="https://www.benzinga.com//node/39362935">placed a clinical hold</a> on partner Medilink Therapeutics&#8217; Phase 1 trial of BNT326/YL202.</li>
<li>Align Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGN#NASDAQ">ALGN</a>) shares lost 9.55% following the Piper Sandler analyst <a href="https://www.benzinga.com/quote/ALGN/analyst-ratings">lowering its price forecast</a> on the stock.</li>
<li>First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLSR#NASDAQ">FLSR</a>) shares fell 8.87% in the last week after Janney Montgomery Scott <a href="https://www.benzinga.com/quote/FSLR/analyst-ratings">downgraded the stock</a> from Buy to Neutral.</li>
<li>Ball Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BALL#NYSE">BALL</a>) stock was down 7.29%. Wells Fargo analyst lowered <a href="https://www.benzinga.com/quote/ball/analyst-ratings" target="_blank" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares decreased 7.02%.</li>
<li>TopBuild Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLD#NYSE">BLD</a>) shares dipped 6.97%. Shares of homebuilders, construction companies and housing-related stocks are trading lower after May housing starts and building permits <a href="https://www.benzinga.com/real-estate/24/06/39412389/may-housing-market-blooms-inventory-and-listings-skyrocket" target="_blank" rel="noreferrer noopener">came in below expectations</a>.</li>
<li>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) shares tumbled 5.56% after the company reported third-quarter results and several <a href="https://www.benzinga.com//node/39432303" target="_blank" rel="noreferrer noopener">analysts slashed their forecasts</a>.</li>
</ol>
Photo via Shutterstock
Also Read: <a href="https://www.benzinga.com/news/24/06/39447477/draftkings-and-dell-were-among-the-10-biggest-large-cap-stock-gainers-last-week-june-16-june-22-are">DraftKings And Dell Were Among The 10 Biggest Large Cap Stock Gainers Last Week (June 16-June 22): Are These In Your Portfolio?</a>

Each of the New Buy-Backs may be commenced at any time following the publication of this press release and again are for the purposes of, respectively, (1) meeting the Company&#39;s obligations in relation to its employee stock award plans, totalling up to&nbsp;$989 million; and (2) supporting the potential settlement of its outstanding convertible bonds, for approximately&nbsp;$111 million, at the NYSE closing price of June 18th, 2024. Taken together the two programs have therefore been authorised for a total of up to&nbsp;$1,100&nbsp;million. The Company intends to hold the repurchased shares as treasury stock.
The shares when repurchased will be recorded as under one or the other buy-back program. Once purchased, the shares may be held in treasury prior to being used for either purpose and, to the extent that they are not ultimately needed for such purpose, they may be used for any other lawful purpose under Article 5(2) of the Market Abuse Regulation (EU) 596/2014 including the purpose of any other buy-back program.

Buybacks

STMicroelectronics Announces $1.1B Share Buy-Back Over Three Years

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Shares of semiconductor and chip stocks are trading lower. The sector may be down following a recent surge amid AI momentum.

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 100 points on Thursday.
Shares of Vanda Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) fell sharply in today's pre-market trading after the company rejected unsolicited takeover<a href="https://www.benzinga.com/quote/VNDA/news"> bids, citing undervaluation</a>.
Vanda Pharmaceuticals shares dipped 6% to $5.96 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares dipped 7.7% to $28.89 in pre-market trading. Trump Media &amp; Technology Group shares dipped around 10% on Tuesday after the U.S. SEC declared effectiveness of the registration statement on Form S-1 related to the resale by certain securityholders of certain shares and warrants.</li>
<li>Super Hi International Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HDL#NASDAQ">HDL</a>) shares fell 4.6% to $16.49 in pre-market trading. On Tuesday, Super Hi International posted a first-quarter loss of 1 cent per share on sales of $187.60 million.</li>
<li>Ocugen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCGN#NASDAQ">OCGN</a>) fell 4.4% to $1.32 in pre-market trading after gaining 3% on Tuesday.</li>
<li>Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>) fell 4.3% to $41.87 in pre-market trading after reporting quarterly results. On Monday, Qiagen announced at its Capital Markets Day a comprehensive strategy aimed at delivering solid and profitable growth through 2028. The company targets a 7% compound annual sales growth at constant exchange rates (CER) by 2028.</li>
<li>STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) declined 4.2% to $41.29 in pre-market trading. On Tuesday, Goldman Sachs analyst Alexander Duval upgraded STMicroelectronics from Sell to Neutral and raised the price target from $35.5 to $45.8.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) shares slipped 3.2% to $35.87 in pre-market trading. SolarEdge Technologies announced the German launch of its high-power SolarEdge TerraMax&#x2122; Inverter combined with H1300 Power Optimizers.</li>
<li>Arcutis Biotherapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQT#NASDAQ">ARQT</a>) shares fell 3.1% to $7.90 in pre-market trading.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/06/39405641/hewlett-packard-enterprise-accenture-and-3-stocks-to-watch-heading-into-thursday">Hewlett Packard Enterprise, Accenture And 3 Stocks To Watch Heading Into Thursday</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

Vanda Pharmaceuticals And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Goldman Sachs analyst Alexander Duval upgraded the rating for STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) from Sell to Neutral, while raising the price target from $35.5 to $45.8. STMicroelectronics shares fell 0.2% to trade at $43.01 on Tuesday. <a href="https://www.benzinga.com/quote/STM/analyst-ratings">See how other analysts view this stock.</a></li>
<li>BMO Capital analyst Kelly Bania upgraded The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) from Market Perform to Outperform and increased the price target from $58 to $60. Kroger shares gained 2.2% to trade at $52.19 on Tuesday. <a href="https://www.benzinga.com/quote/KR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Argus Research analyst Jim Kelleher upgraded the rating for Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) from Hold to Buy, while announcing a price target of $40. Juniper Networks shares rose 0.3% to settle at $35.60 on Tuesday. <a href="https://www.benzinga.com/quote/JNPR/analyst-ratings">See how other analysts view this stock. See how other analysts view this stock.</a></li>
<li>Craig-Hallum analyst Jason Kreyer upgraded QuinStreet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNST#NASDAQ">QNST</a>) from Hold to Buy and announced a price target of $22. QuinStreet shares gained 9.3% to trade at $17.05 on Tuesday. <a href="https://www.benzinga.com/quote/QNST/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Spiro Dounis upgraded the rating for Sunoco LP  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>) from Neutral to Buy and announced a price target of $65. Sunoco shares gained 0.5% to trade at $54.89 on Tuesday. <a href="https://www.benzinga.com/quote/BBY/analyst-ratings">See how </a><a href="https://www.benzinga.com/quote/SUN/analyst-ratings">other</a><a href="https://www.benzinga.com/quote/BBY/analyst-ratings"> analysts view this stock</a>.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39379183/wall-streets-most-accurate-analysts-weigh-in-on-3-real-estate-stocks-with-over-8-dividen">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Real Estate Stocks With Over 8% Dividend Yields</a>

Goldman Sachs analyst Alexander Duval upgrades STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) from Sell to Neutral and raises the price target from $35.5 to $45.8.

Price Target

Goldman Sachs Upgrades STMicroelectronics to Neutral, Raises Price Target to $45.8

STMicroelectronics shares are trading lower amid a pullback in chip stocks.

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Shares of semiconductor stocks are trading higher. Softer-than-expected CPI figures have lifted socks on Wednesday while AI optimism continues to boost the sector.

STMicroelectronics NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) and Geely Auto Group have signed a long-term Silicon Carbide (SiC) supply agreement to enhance their <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/g39151534/geely-auto-gears-up-nev-transformation-and-innovation-with-long-term-sic-supply-agreement-and-join" rel="noreferrer noopener">collaboration on SiC devices</a>. The chipmaker&#8217;s stock price gained after the update.
STMicroelectronics will provide SiC power devices for Geely&#8217;s mid-to-high-end battery electric vehicles, improving performance, charging speeds, and driving range.
They also established a joint lab to develop solutions for automotive electronics, advanced driver assistance systems, and new energy vehicles.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/05/39037776/amd-grabs-33-of-server-cpu-market-and-prepares-for-major-processor-launch-report" rel="noreferrer noopener">AMD Grabs 33% of Server CPU Market and Prepares for Major Processor Launch: Report</a>
Geely has adopted ST&#8217;s third-generation SiC MOSFET devices in its electric traction inverters, which are critical components in electric powertrains.
The partnership aims to accelerate innovation and boost both companies&#8217; positions in the electric vehicle market.
Geely Auto sold 1.68 million vehicles in 2023, with NEV sales reaching 480,000 units, up 48% year-on-year.
In April, STMicroelectronics reported&nbsp;a <a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38430303/not-all-chipmakers-are-doing-great-stmicroelectronics-lowers-annual-outlook-after-q1-performance" rel="noreferrer noopener">fiscal first-quarter 2024</a> revenue decrease of 18.4% year-on-year to $3.47 billion, missing the&nbsp;analyst consensus estimate of $3.62 billion, driven by lower revenues in the Automotive and Industrial segments.&nbsp;EPS of $0.54 missed the&nbsp;analyst consensus estimate of $0.59.
The company issued cautious outlooks for its second quarter and fiscal 2024.
STMicroelectronics&nbsp;stock lost over 5% in the last 12 months. Investors can gain exposure to the stock via Return Stacked Bonds &amp; Managed Futures ETF Veridien Climate Action ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLIA#NYSE">CLIA</a>) and Columbia ETF Trust I Columbia Seligman Semiconductor And Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEMI#NYSE">SEMI</a>).
Price Action: STM shares are trading higher by 2.13% at $42.87 at&nbsp;the last check on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

STMicroelectronics Stock Gains After EV Deal With Geely Auto - What's Going On?

<ul>
<li>ST&#39;s third generation SiC MOSFETs help increase the powertrain efficiency for Geely Auto Group battery electric vehicles.</li>
<li>Innovation Joint Lab set up to support the development of smart, electrified and connected cars.</li>
</ul>

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Geely Auto And STMicroelectronics Signed A Long-Term SiC Partnership For NEV Transformation And Innovation

The European Commission has given the green light to a €2 billion Italian <a href="https://ec.europa.eu/commission/presscorner/detail/en/ip_24_2994" target="_blank" rel="noreferrer noopener">initiative </a>aimed at supporting STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) in establishing and running an integrated chip manufacturing facility in Catania, Sicily.
The facility will produce Silicon Carbide (SiC) power devices, contributing to Europe&#8217;s technological self-sufficiency and digital sovereignty as outlined in the European Chips Act.
STMicroelectronics&#8217; project, which is backed by the Italian government, aims to enhance the supply and resilience of semiconductor technologies, which are crucial for the digital and green transitions.
The new plant will manufacture high-performance SiC chips used in various applications, including electric vehicles, fast-charging stations, and renewable energy systems.
Italy has notified the Commission of its intent to support the development of ST&#8217;s Catania Campus with a direct grant of approximately €2 billion.
This investment is part of a larger €5 billion project to create a large-scale manufacturing facility for high-performance SiC chips.
The plant will process 200mm wafers into modules and devices for automotive and other industries. Full-scale operations are expected by 2032.
ST has committed to ensuring that the project benefits the entire EU semiconductor value chain, not just Italy.
Related Read: <a target="_blank" href="https://www.benzinga.com/news/24/05/38650313/chip-designer-synopsys-sells-its-software-integrity-business-for-2-1b" rel="noreferrer noopener">Chip Designer Synopsys Sells Its Software Integrity Business For ~$2.1B</a>
The company will also prioritize orders during supply shortages, as stipulated by the European Chips Act, and avoid public service obligations imposed by third countries.
The company has applied for recognition of the Catania Campus as an integrated production facility under the European Chips Act, independent of the State aid assessment.
The European Chips Act, adopted on 8 February 2022, underscores the importance of new production facilities in safeguarding the EU&#8217;s supply chain resilience. The Commission&#8217;s approval is the third such decision, following similar measures in Italy and France.
Margrethe Vestager, Executive Vice-President in charge of competition policy, said, &#8220;The €2 billion Italian measure approved today supports a unique integrated facility for silicon carbide chips. It will strengthen the European semiconductors supply chain and ensure our access to a reliable source of power efficient chips used for example in electric vehicles and charging stations. This will support our digital and green transitions and help create high-skilled employment, while limiting possible distortions of competition.&#8221;
Price Action: STM shares are trading higher by 0.81% at $41.28 in premarket at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38890649/microsoft-unveils-amd-powered-ai-chips-to-rival-nvidia-report" rel="noreferrer noopener">Microsoft Unveils AMD-Powered AI Chips To Rival Nvidia: Report</a>

European Commission Backs Italian State Aid To STMicroelectronics'  Chip Plant: Details

<ul>
<li>New high-volume 200mm silicon carbide manufacturing facility for power devices and modules, as well as test and packaging, to be built in Catania, Italy</li>
<li>Projected 5 billion euros multi-year investment program including 2 billion euros support provided by the State of Italy in the framework of the EU Chips ActCatania Silicon Carbide Campus realizes ST&#39;s plan for fully vertically integrated SiC capabilities from R&amp;D to manufacturing, from substrate to module, on one site, enabling automotive and industrial customers in their shift to electrification and higher energy efficiency.</li>
</ul>

STMicroelectronics Announces World's First Fully Integrated Silicon Carbide Facility In Italy

MRVL

Shares of semiconductor and chip stocks are trading lower amid a possible selloff. NVIDIA earnings last week initially strengthened the sector.

Advanced Micro Devices, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) claims it holds a 33% share in the server CPU market as it prepares to launch its next-gen &#8220;Turin&#8221; processors and unveils a GPU roadmap following the MI300 product line, the Register&nbsp;<a target="_blank" href="https://www.theregister.com/2024/05/24/amds_cfo_interview/" rel="noreferrer noopener">reports</a>.
During the&nbsp;JP Morgan Global Technology, Media, and Communications conference,&nbsp;Jean Hu,&nbsp;AMD&#8217;s CFO,&nbsp;highlighted&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/39008483/amd-chief-lisa-su-foresees-massive-gains-in-ai-and-data-center-efficiency" rel="noreferrer noopener">the company&#8217;s growth</a>&nbsp;in servers, CPUs, and GPUs.&nbsp;The stock is trading higher on Tuesday.
She noted AMD&#8217;s partnerships, such as with&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) for virtual machine instances running AMD MI300X GPUs in Azure cloud, and AMD&#8217;s success in achieving strong double-digit growth in server CPUs and desktop/laptop segments.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38961022/supermicro-and-amd-roll-out-multi-node-servers-to-enhance-cloud-computing" rel="noreferrer noopener">Supermicro and AMD Roll Out Multi-Node Servers To Enhance Cloud Computing</a>
Hu emphasized that AMD&#8217;s strategic focus on power efficiency and cost-effectiveness makes it a compelling choice for enterprises facing power and space constraints. Notable clients like&nbsp;American Express Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>),&nbsp;Shell Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>), and&nbsp;STMicroelectronics N.V.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) are transitioning to AMD-based infrastructure.
Hu announced plans for a next-generation AI PC to launch in the second half of the year, which could significantly refresh the PC market. She also mentioned the potential for AMD to re-enter the&nbsp;Arm Holdings Plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) market, leveraging its existing capabilities and IP blocks to meet customer demands.
AMD sees long-term growth potential in the embedded processor market, mainly through synergies with Xilinx.&nbsp;
Hu also highlighted AMD&#8217;s robust performance in the desktop and laptop markets.&nbsp;
Analysts expect AMD and peers to drive&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38989970/semiconductor-surge-jpmorgan-bets-amd-micron-arm-will-drive-industry-optimism-and-a" rel="noreferrer noopener">semiconductor industry optimism</a>&nbsp;after their earnings beat as inventory levels normalize and companies ship closer to consumption levels. However, analysts also cautioned against&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38558952/amd-falls-on-q1-earnings-q2-guidance-why-1-000-growth-from-ai-stock-is-not-enough-f" rel="noreferrer noopener">AMD&#8217;s MI300 supply</a>&nbsp;constraints, gaming segment weakness&nbsp;and&nbsp;aggressive pricing from&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/28054150/newplot-29.png" alt="" class="wp-image-358087" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/28054150/newplot-29.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/28054150/newplot-29-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
AMD stock gained 33% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;Spear Alpha&nbsp;ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRX#NASDAQ">SPRX</a>) and&nbsp;Pacer Funds&nbsp;Pacer Data And Digital Revolution ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRFK#NYSE">TRFK</a>).
Price Actions:&nbsp;AMD shares traded higher by 1.87%&nbsp;at&nbsp;$169.47 premarket&nbsp;at the last check on Tuesday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38948083/amd-unveils-cost-effective-epyc-4004-series-cpus-for-small-businesses-and-it-providers" rel="noreferrer noopener">AMD Unveils Cost-Effective EPYC 4004 Series CPUs For Small Businesses and IT Providers</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy of AMD

Shares of semiconductor and chip stocks are trading higher ahead of NVIDIA's earnings report. Some stocks in the sector may also be up following strong quarterly earnings from Analog Devices.

CRWD

PLTR

Shares of companies in the broader tech sector are trading lower amid rate cut uncertainty following upbeat US wage data.

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

Let's Spill The Tea: Top Consumer Tech News From Last Week That You Should Know (April 21-27, 2024)

STMicroelectronics NV&nbsp;(NYSE:&nbsp;STM) reported&nbsp;a first-quarter revenue decline of 18.4% year-on-year to $3.47 billion, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38421803/stmicroelectronics-reports-2024-first-quarter-financial-results" rel="noreferrer noopener">consensus of $3.62 billion</a>.&nbsp;EPS of $0.54 missed the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.59</a>.
Sales to OEMs decreased by 11.5% Y/Y, and Distribution sales fell&nbsp;by 30.8% Y/Y.
Analog products, MEMS, and&nbsp;Sensors (AM&amp;S) segment revenue declined 13.1% Y/Y to $1.22 billion, mainly&nbsp;due to a decrease in MEMS and&nbsp;Imaging.
Power and&nbsp;Discrete&nbsp;products (P&amp;D) segment revenue decreased 9.8% Y/Y to $820 million mainly due to a decrease in&nbsp;Discrete.
Microcontrollers (MCU) segment revenue reduced 34.4% Y/Y to $950 million, mainly&nbsp;due to a decrease in GP MCU.
Digital&nbsp;ICs and RF products (D&amp;RF) segment revenue decreased 2.1%&nbsp;Y/Y&nbsp;to $475 million due to a decrease in ADAS.
Margins:&nbsp;The gross margin declined by 800 bps to 41.7%, mainly due to the combination of the sales price and product mix, unused capacity charges, and reduced manufacturing efficiencies. The operating margin decreased by 1,240 bps to 15.9%.
STMicroelectronics used $(134) million in free cash flow and held $6.24 billion in cash and equivalents as of March 30, 2024. It generated an operating cash flow of $859 million.
Jean-Marc Chery, ST President &amp; CEO, commented: &#8220;Q1 net revenues and gross margin both came in below the midpoint of our business outlook range, driven by lower revenues in Automotive and Industrial, partially offset by higher revenues in Personal Electronics.&#8221;
&#8220;During the quarter, Automotive semiconductor demand slowed down compared to our expectations, entering a deceleration phase, while the ongoing Industrial correction accelerated.&#8221;
Outlook: STMicroelectronics expects fiscal second-quarter 2024 revenue of $3.20 billion, a decrease of about 7.6% sequentially, plus or minus 350 bps (<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus $3.80 billion</a>). The company expects a gross margin of 40.0%, plus or minus 200 bps.
It now expects fiscal 2024 revenue of $14 billion&nbsp;&#8211; $15&nbsp;billion (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36778747/auto-sales-q4-growth-for-stmicroelectronics-more-than-offset-by-sensors-decline-expects-to-spill-ov" rel="noreferrer noopener">prior $15.9 billion&nbsp;– $16.9&nbsp;billion</a>) versus consensus of $16.12 billion and a gross margin in the low 40% (prior low to mid-40%).
For 2024, the company maintained a $2.5 billion net Capex outlook.&nbsp;
STMicroelectronics&nbsp;stock lost 7% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Return Stacked Bonds &amp; Managed Futures ETF Veridien Climate Action ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLIA#NYSE">CLIA</a>) and&nbsp;Columbia ETF Trust I Columbia Seligman Semiconductor And Technology ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEMI#NYSE">SEMI</a>).
Price Action:&nbsp;STM shares are trading higher by 1.50% at $42.77 premarket at&nbsp;the last check on Thursday.

The back-and-forth motion in the market continues, with the index futures pointing to a lower opening on Thursday. Meta Platforms, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">lukewarm second-quarter revenue guidance </a>and commentary regarding investment punctured the stock, while International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) also fell on earnings. The tech space could come under pressure as traders digest these disappointments.
More tech earnings are on tap on Thursday, led by AI stalwart Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)
Also weighing down on sentiment would be apprehensions regarding two key data due for the week. The first read of the first-quarter GDP data (Thursday) and the personal income and spending report (Friday), will be in the spotlight as the market strives to make sense of growth and inflation trajectories ahead of next week&#8217;s Federal Reserve&#8217;s monetary policy meeting.
 Futures Performance On Thursday ( as of 5:50 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.81%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.48%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.31%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.47%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Thursday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slipped 0.43% to $503.24,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.78% to $423.20, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Past Session:
Early optimism triggered by positive reactions to earnings from Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Texas Instruments, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) tempered over the course of Wednesday&#8217;s session. Mixed earnings reports and economic worries kept sentiment subdued for much of the session, and this led to a mixed close for the day.
The tech-heavy Nasdaq Composite and the S&amp;P 500 Index ended the session marginally higher, pulling notably off the day&#8217;s high reached in early trading. The former moved in a roughly 205-point range and the latter gyrated between 5,047.02 and 5,089.48, a roughly 43-point intra-day move. Nevertheless, the indices have been higher for a third straight session now.
Weighed down by a 2.87% pullback in Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares following its earnings release, the Dow Jones Industrial Average ended modestly lower. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.10%</td>
<td>15,712.75</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.02%</td>
<td>5,071.63</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.11%</td>
<td>38,460.92</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.36%</td>
<td>1,995.43</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The growth conundrum of whether the economy is going to see a hard or soft landing, has kept investors skewed toward quality stocks, <a href="https://www.morganstanley.com/ideas/thoughts-on-the-market-wilson?subscribed=true&amp;dis=em_2024424_wm_5ideasarticle&amp;et_mid=585156&amp;et_mkid=&amp;sfmc_id=201810710">said </a>Morgan Stanley&#8217;s Chief Equity Strategist Mike Wilson in a podcast. &#8220;The largest risk for stocks more broadly is higher 10-year Treasury yields as investors begin to demand a larger term premium due to higher inflation and the growing supply of bonds to pay for the endless deficits,&#8221; he said.
&#8220;Our primary concern for equities at this point is that aggressive fiscal spending has led to better economic growth but it keeps upward pressure on inflation and prevents the Fed from cutting interest rates that many economic participants desperately need at this point.&#8221;
The analyst recommended investors look into under-appreciated sectors. &#8220;This is all in-line with our 2024 outlook that suggests the major equity indices are overvalued while the best opportunities are likely beneath the surface in underappreciated sectors like energy that are positively levered to stickier inflation and higher interest rates.&#8221;
Fund Strat&#8217;s Tom Lee, however, is optimistic. In his weekly commentary, the analyst noted that the S&amp;P 500 and equities rebounded over the past two days, rising more than 2%. &#8220;The S&amp;P 500 closed solidly above the critical 5,019.20 to 5,070.55. In our view, this is confirmation that the worst of this two-week decline is behind us,&#8221; he said.
Upcoming Economic Data:
The Bureau of Economic Analysis is due to release its<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38405106/us-economy-expected-to-grow-2-5-in-q1-not-a-hard-landing-and-hardly-a-soft-one"> first-quarter GDP data (advance estimate) </a>at 8:30 a.m. EDT. Economists, on average, expect the economy to have expanded 2.2%, slower than the 3.4% pace in the fourth quarter. Traders may also keep an eye on the GDP price deflator and the price consumption expenditure index to gauge inflation trends.
The Labor Department will release the customary jobless claims data at 8:30 a.m. EDT. The number of individuals claiming unemployment benefits is expected at 215,000 for the week ended April 20, up slightly from 212,000 in the previous week.
The National Association of Realtors is scheduled to release its pending home sales index for March at 10 a.m. EDT, with consensus calling for an unchanged reading following the 1.6% increase in February.
The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT and seven-year notes at 1 p.m. EDT.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures </a>
Stocks In Focus: 
<ul>
<li>Meta and IBM fell 12.5% and 8.5%, respectively, <a href="https://www.benzinga.com/premarket">in premarket trading </a>following quarterly earnings announcement.</li>
<li>Other stocks moving on earnings are ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) (down about 4.5%), Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) (up over 8%), O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>) (down 4%), Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>) (up over 12.5%), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) (up about 2.5%) and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) (up about 2.5%).</li>
<li>Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), AstraZeneca Plc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), Caterpillar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>), Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>), Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>), Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) and STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting their earnings ahead of the market open.</a></li>
<li>Notable names reporting after the close include Alphabet, Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft, Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures continued to trade under the $83-a-barrel mark and gold futures were seen consolidating just above the $2,330 level.
The 10-year note yield, held firm around the 4.64% ahead of Friday&#8217;s inflation data.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) weakened by about 3.50% and traded shy of the psychological barrier of $64,000.
Most major Asian markets, with the exception of the Chinese, Hong Kong and Indian markets, pulled back, as traders positioned themselves for Friday&#8217;s U.S. inflation data. The Australian and New Zealand markets remained closed for a public holiday.
The European markets fell in early trading, adding to the losses they made on Wednesday. The Euro STOXX 50 Index was down 0.44% at the last check.
Read Next: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38410454/treasury-yields-reach-5-month-high-lift-mortgage-rates-expert-warns-federal-debt-">Treasury Yields Reach 5-Month High, Lift Mortgage Rates; Expert Warns &#8216;Federal Debt Blob Is Out Of Control&#8217;</a>
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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
No matter how much wealth you accrue, everyone loves a discount. That goes for the equities market as well. Sure, you can pick ideas that everybody else loves. However, you may be paying a premium for such opportunities. Instead, it might make sense to consider less-appreciated names. That brings us to value stocks to buy on the dip.



By value, we&rsquo;re emphasizing enterprises that are trading at multiples below what they should be printing. For example, if a company&rsquo;s equity trades hands below the underlying industry standard for earnings, that could be a deal. Typically, companies become undervalued when the market consensus lacks belief in their upward potential.



Of course, the risk here is picking ideas that are appear &ldquo;cheap,&rdquo; only to see them get even cheaper later. To better avoid that scenario materializing, we&rsquo;ll be looking at names that the experts generally endorse. With that, below are intriguing plays for value stocks to buy on the dip.



<h2>Kraft Heinz (KHC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/KHC1600-300x169.jpg" alt="A magnifying glass zooms in on the Kraft Heinz (KHC) website."><div>Source: Casimiro PT / Shutterstock.com</div></div>Based in Pittsburgh, Pennsylvania, Kraft Heinz (NASDAQ:<a href="https://investorplace.com/stock-quotes/khc-stock-quote/">KHC</a>) makes arguably an easy case for value stocks to buy on the dip. First, the performance of KHC stock in the market this year hasn&rsquo;t been great. At the same time, it features a &ldquo;trustable&rdquo; narrative. As a manufacturer of popular food and beverage products, Kraft Heinz aligns with an indelible catalyst: we&rsquo;re humans and we all have to eat.



Let&rsquo;s be fair &ndash; that doesn&rsquo;t necessarily mean we should eat KHC-branded products all the time. However, in an age of elevated prices and borrowing costs, Kraft Heinz brings much-needed consumer value to the table. It also brings investment value. Right now, <a href="https://www.gurufocus.com/stock/KHC/summary?search=khc">shares trade at 0.81X book value</a>, lower than the sector median stat of 1.5X.



It gets better. For fiscal 2024, analysts are projecting 7.9% growth in sales to $26.68 billion. And earnings per share may hit $3.03. If so, that would imply an expansion of the bottom line of 9.4%. Yet KHC trades at only 10.8X forward earnings, below the sector median of 15.48X.



If you need more convincing, Kraft Heinz also offers a forward dividend yield of 4.86%. It&rsquo;s easily one of the value stocks to buy on the dip.



<h2>STMicroelectronics (STM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/stm-stock-1-300x169.jpg" alt="STMicroelectronics building"><div>Source: Michael Vi / Shutterstock.com</div></div>Semiconductor specialist STMicroelectronics (NYSE:<a href="https://investorplace.com/stock-quotes/stm-stock-quote/">STM</a>) presents a tricky case for value stocks to buy on the dip. Give me a moment to lay out the narrative. Fundamentally, the company &ndash; often abbreviated as simply ST &ndash; is supremely relevant. It manufactures specialized computer chips such as microcontrollers and integrated circuits (ICs) that are integral to broader tech-ecosystem functionalities. Therefore, it arguably should be bought whenever red ink strikes.



Notably, STM stock hasn&rsquo;t enjoyed a great performance this year. So, it appears to be a discount. Indeed, shares trade for 10.54X trailing-year earnings and 19.42X forward earnings. In addition, the market prices ST at only 2.35X trailing-year revenue. Long story short, all these <a href="https://www.gurufocus.com/stock/STM/summary?search=stm">stats are well below</a> their respective median print for the semiconductor industry, per Gurufocus.



Naysayers, though, may state that the undervaluation appears for a reason. For fiscal 2024, analysts believe EPS will erode by nearly 52% to $2.15. On the top line, sales may slip by 16.9% to $14.36 billion.



However, the counterargument is that as digital innovations become more interconnected, demand for microcontrollers, ICs and other solutions will likely increase. So, if you want to take a risk, STM stock seems intriguing.



<h2>Marathon Petroleum (MPC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/oil-price-predictions1600-300x169.png" alt="Rise in gasoline prices concept with double exposure of digital screen with financial chart graphs and oil pumps on a field. Oil prices and oil price predictions"><div>Source: Golden Dayz / Shutterstock.com</div></div>Another tricky case for value stocks to buy on the dip, Marathon Petroleum (NYSE:<a href="https://investorplace.com/stock-quotes/mpc-stock-quote/">MPC</a>) requires fortitude and some cynical speculation. Let&rsquo;s start with the basics and work our way down the details. Marathon specializes in oil and gas refining and marketing, otherwise known as the downstream component of the energy value chain. Basically, if it goes into your fuel tank, that&rsquo;s downstream.



Right now, this segment of the value chain faces pressure due to a variety of factors, including hawkish monetary policy. Because of the headwinds, however, MPC stock appears undervalued. For example, shares trade at 8.62X trailing-year earnings. It also trades at 0.46X trailing-year revenue. Both stats are below their industry median values.



So, what&rsquo;s the problem? Because of consistently robust jobs reports, the underlying inflationary pressure gives the Federal Reserve little reason to become accommodative. That could continue pressuring the downstream sector.



However, not all segments of the economy are doing well. So, it&rsquo;s not impossible for the Fed to lower interest rates sooner than expected. Also, geopolitical flashpoints can potentially threaten global supply chains. If so, MPC stock would seem to be a good deal at current prices.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/3-value-stocks-to-buy-on-the-dip-june-2024/">3 Value Stocks to Buy on the Dip: June 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Value Stocks to Buy on the Dip: June 2024

Stifel Nicolaus analyst Juergen Wagner has maintained their bullish stance on 0INB stock, giving a Buy rating on June 24. Juergen Wagner has given ...

Buy Rating on STMicroelectronics NV Amid Adjusted Earnings Forecasts and Attractive Valuation


Daniel GoldmanHouse (D-NY)	$100K - $250K	Sale	Aug 13, 2023	Jul 10, 2023	House
Bob GibbsHouse (R-OH)	$15K - $50K	Sale	Nov 28, 2021	Nov 24, 2021	House
Bob GibbsHouse (R-OH)	$1K - $15K	Purchase	Nov 21, 2021	Nov 16, 2021	House

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