10 AI News Updates Trending on Wall Street

8. STMicroelectronics NV (NYSE:STM)

Number of Hedge Fund Holders: 18

STMicroelectronics NV (NYSE:STM) is a semiconductor design and manufacturing company that sells communication equipment, computer peripherals, and microchips for use in IoT applications, personal electronics, cloud connectivity, and the automotive and industrial industries. The company’s ST Edge AI suite is a collection of AI tools that enable AI on microcontrollers, processors, and smart sensors. For instance, its proprietary neural processing unit called ST Neural-ART Accelerator delivers impressive efficiency in handling AI tasks, while its online STM32 edge AI tools allow developers to create and deploy ML algorithms on microcontrollers swiftly at relatively lower costs. Elsewhere, its Edge AI ST smart sensors embed ML core to facilitate context awareness in industrial equipment and IoT devices that help in several applications, including reducing power consumption and meaningful data-sharing between microchips.

On January 30th, Craig-Hallum reduced STMicroelectronics NV’s (NYSE:STM) target price to $28 from $36 but retained a “Buy” rating on the stock. The brokerage said that the industrial and the automotive markets continue to soften, with STMicroelectronics NV’s (NYSE:STM) expecting a worse-than-seasonal March quarter. The analysts continued to model ratings for the deterioration of the company’s business and highlighted that gross margins and profitability could markedly drop in 2025.