Semiconductor company shares suffer from Nvidia’s fall From Investing.com

Investing.com – The decline in STMicroelectronics (BIT:) shares weighs on the . The semiconductor company, which is worth over 33 billion euros on the stock market, dropped 2.25% at 11am compared to 37.775 euros the day before.

The stock is lacking the support of sector leader NVIDIA (NASDAQ:) which has burned almost 500 million in market cap in the last three sessions.

After conquering first place in terms of market cap at a global level, the company led by CEO Jensen Huang ran into 3 decidedly negative days which ended with a drop of 6.68% on 25 June which brought the value of the US giant back to 2 .9 trillion dollars and therefore outside the exclusive club of 3 trillion in which only Microsoft (NASDAQ:) and Apple (NASDAQ:) are now members.

As a result, the entire chip industry suffered. In addition to STM (EPA:), in the United States Intel (NASDAQ:) lost 1.67% and Taiwan Semiconductor Manufacturing (BVMF:) lost more than 3%. While today in Europe it is the turn of the Dutch ASML (AS:) (-1%) to suffer the effects of Nvidia’s slide.

The target price of Stm

As far as the Franco-Italian company is concerned, in any case, the decline according to analysts could only be temporary.

The 21 market experts interviewed by InvestingPro set the target price at 53.370 euros per share, approximately 44% more than the 37 euros on 25 June (11.15 am). At the moment, the stock boasts 17 buy ratings and 4 hold ratings.

Moreover, until now STM has not enjoyed the impressive rally experienced by Nvidia and in the last year its shares have fallen by more than 12%.

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