On October 8, STMicroelectronics NV declined 4.2% in pre-market trading, trading at $53.75/share, with turnover of $77,100.
The decline is attributed to continued profit-taking following the September 14 launch of the 1.1-megapixel automotive in-cabin infrared image sensor VD56GA. The new product, part of the SafeSense series, drove significant share price gains earlier, and short-term valuation digestion pressure now dominates. The SafeSense series has cumulatively shipped over 10 million units, and the new sensor aims to reduce driver and occupant monitoring system costs for mass-market vehicles, a positive that has largely been priced in.
STMicroelectronics N.V. designs, develops, manufactures, and sells semiconductor products globally, operating through Automotive and Discrete Group, Analog, MEMS and Sensors Group, and Microcontrollers and Digital ICs Group segments.
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