STMicroelectronics N.V. · STM · FY2026 Q2 · Calendar Q3 2026
STM raises data-center ambition as demand broadens across end markets
STM’s Q2 analysis supports a stronger growth trajectory: broad end-market demand, higher data-center ambitions and new AI-oriented products were paired with positive free cash flow. The case depends on converting demand into capacity and margin gains while managing fab transitions, supply tightness and tariff exposure.
Earnings scorecard
Reported versus consensusMarket reaction
prior-close to event-session closeAsk FN2 about STM FY2026 Q2
Transcript, numbers and history already loadedFree account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management raised its data-center ambition, increased capex guidance to the high end of $2–2.2 billion, and shifted its capex outlook from decreasing to increasing. The company also reported positive free cash flow and introduced additional AI-ready, sensing and quantum-security products.
Guidance delta
Management raised its data-center revenue ambition to above $1 billion in 2026 and above $2 billion in 2027; it also reiterated a Q3 revenue outlook of $3.7 billion with 37% margin and a Q4 target above $4 billion.
Key takeaways
- Q2 revenue was $3.49 billion, above the outlook midpoint, with demand strength across communication equipment, computer peripherals, automotive, industrial and personal electronics.
- Data-center revenue ambition increased to above $1 billion in 2026 and above $2 billion in 2027.
- Management highlighted AI-ready products, including a 3D LiDAR module, secure quantum-ready chips and AI-embedded MEMS sensors.
- Free cash flow turned positive at $75 million, while distribution inventory fell below target.
Management priorities
- Scale 300 mm fab capacity for microcontrollers, silicon photonics and silicon-carbide products.
- Expand collaboration with NVIDIA on robotics and functional safety.
- Continue integrating the NXP MEMS business and develop automotive sensing products.
- Advance silicon photonics, AI-ready sensing and quantum-ready security products.
Follow STM with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Hold | Hold | Maintain | Oct 20, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Jul 27, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jul 24, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 21, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Jun 2, 2026 |
| Baird | Outperform | Neutral | Upgrade | Jul 22, 2025 |
| Jefferies | Buy | Hold | Upgrade | Feb 19, 2025 |
| Bernstein | Market Perform | Outperform | Downgrade | Feb 5, 2025 |
| Barclays | Underweight | Equal Weight | Downgrade | Jan 22, 2025 |
| JP Morgan | Neutral | Overweight | Downgrade | Dec 9, 2024 |
| Craig-Hallum | Buy | Buy | Maintain | Oct 31, 2024 |
| Berenberg | Buy | Hold | Upgrade | Apr 23, 2024 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jan 27, 2023 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Nov 8, 2022 |
| William Blair | Perform | Market Perform | Maintain | Oct 17, 2022 |
| Canaccord Genuity | Buy | Buy | Maintain | Apr 30, 2021 |
| UBS | Neutral | Buy | Downgrade | Jan 13, 2021 |
| Citigroup | Buy | Neutral | Upgrade | Mar 19, 2020 |
| Bank of America | Buy | Neutral | Upgrade | May 31, 2019 |
| Deutsche Bank | Hold | Buy | Downgrade | Sep 26, 2018 |
| Kepler Cheuvreux | Hold | Reduce | Upgrade | Jan 26, 2018 |
| Stifel Nicolaus | Buy | Hold | Upgrade | Jun 27, 2017 |
| Stifel | Buy | Hold | Upgrade | Jun 27, 2017 |
| Credit Suisse | Neutral | Underperform | Upgrade | Jan 27, 2017 |
| Natixis | Buy | Buy | Maintain | Sep 14, 2015 |
| HSBC | Hold | Reduce | Upgrade | Jul 24, 2015 |
| Banca Akros | Accumulate | Reduce | Upgrade | May 13, 2015 |
| Exane BNP Paribas | Neutral | Outperform | Downgrade | Jan 17, 2014 |
| Williams Capital | Sell | Sell | Maintain | Apr 24, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $46.74. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Vijay Rakesh | $70 | $49.13 | +49.8% | Oct 29, 2026 |
| Goldman Sachs | Alexander Duval | $60.5 | $51.54 | +29.4% | Jul 27, 2026 |
| Barclays | Simon Coles | $60 | $52.37 | +28.4% | Jul 24, 2026 |
| Mizuho Securities | Analyst unavailable | $80 | $53.13 | +71.2% | Jul 24, 2026 |
| Craig-Hallum | Analyst unavailable | $70 | $54.6 | +49.8% | Jul 23, 2026 |
| Susquehanna | Analyst unavailable | $75 | $64.58 | +60.5% | Jul 21, 2026 |
| UBS | Analyst unavailable | $100 | $73.32 | +113.9% | Jun 10, 2026 |
| Mizuho Securities | Vijay Rakesh | $84 | $79.51 | +79.7% | Jun 3, 2026 |
| Raymond James | Analyst unavailable | $83 | $80.26 | +77.6% | Jun 2, 2026 |
| Mizuho Securities | Analyst unavailable | $68 | $60.96 | +45.5% | May 19, 2026 |
| Robert W. Baird | Analyst unavailable | $90 | $49.71 | +92.6% | Apr 24, 2026 |
| Craig-Hallum | Analyst unavailable | $58 | $44.86 | +24.1% | Apr 23, 2026 |
| Mizuho Securities | Analyst unavailable | $48 | $41.57 | +2.7% | Apr 16, 2026 |
| Seaport Global | Analyst unavailable | $34 | $32.49 | -27.3% | Feb 9, 2026 |
| Mizuho Securities | Analyst unavailable | $28 | $28.71 | -40.1% | Jan 9, 2026 |
| Mizuho Securities | Analyst unavailable | $26 | $26.47 | -44.4% | Dec 16, 2025 |
| Mizuho Securities | Vijay Rakesh | $22 | $22.11 | -52.9% | Nov 25, 2025 |
| Robert W. Baird | Analyst unavailable | $45 | $25.26 | -3.7% | Oct 24, 2025 |
| Susquehanna | Christopher Rolland | $40 | $30.54 | -14.4% | Oct 22, 2025 |
| Goldman Sachs | Alexander Duval | $26.5 | $26.32 | -43.3% | Jul 25, 2025 |
| Susquehanna | Christopher Rolland | $28 | $22.45 | -40.1% | Jan 31, 2025 |
| Craig-Hallum | Anthony Stoss | $36 | $27.07 | -23.0% | Oct 31, 2024 |
| Susquehanna | Christopher Rolland | $35 | $27.99 | -25.1% | Oct 21, 2024 |
| Craig-Hallum | Anthony Stoss | $42 | $33.46 | -10.1% | Jul 25, 2024 |
| Citigroup | Spiro Dounis | $65 | $43.08 | +39.1% | Jun 18, 2024 |
| Goldman Sachs | Alexander Duval | $45.8 | $43.1 | -2.0% | Jun 17, 2024 |
| Susquehanna | Analyst unavailable | $50 | $38.24 | +7.0% | Dec 12, 2022 |
Track every rating change on STM the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationSTMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures, and markets a broad range of semiconductor products. Its offerings include analog chips, discrete power semiconductors, microcontrollers, and sensors, with a strong presence in the automotive and industrial sectors.
Historical context
All STM earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| INTC Intel Corp. | FY2026 Q3 · Calendar Q4 2026 | +27.9% | -28.6% | Intel: AI Server Demand Offsets PC Weakness, CapEx Rises |
| GDDY GoDaddy Inc. | FY2026 Q3 · Calendar Q4 2026 | +9.5% | +10.7% | GoDaddy: Airo accelerates while guidance is maintained |
| MPWR Monolithic Power Systems, Inc. | FY2026 Q3 · Calendar Q4 2026 | +5.1% | +1.1% | MPWR tops $1 billion in revenue as data-center demand accelerates |
| TWLO Twilio Inc. | FY2026 Q3 · Calendar Q4 2026 | +12.2% | -15.2% | Twilio raises growth outlook as AI and software adoption expand |
| SNDK Sandisk Corporation | FY2027 Q1 · Calendar Q4 2026 | +6.1% | -13.5% | SNDK: AI-driven NAND demand remains strong, but execution risks persist |
| RBLX Roblox Corporation | FY2026 Q3 · Calendar Q4 2026 | +26.2% | -18.1% | Roblox pairs strong engagement with lower Q4 bookings guidance |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the STM recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-23T15:03:43.361283+00:00
- FN2 earnings calendar · 2026-08-27T01:23:13.912278+00:00
- Polygon adjusted daily market bars · 2026-10-31T21:20:43.201485+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-31T21:20:43.198720+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-31. For educational purposes only; not investment advice.