STMicroelectronics

STMicroelectronics is a global independent semiconductor company that designs, develops, manufactures and markets a broad range of semiconductor integrated circuits (“ICs”) and discrete devices. Co. offers a diversified product portfolio and develops products for a wide range of market applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems. Within its diversified portfolio, Co. is focused on developing products that leverage its technological strengths in creating customized, system-level solutions with digital and mixed-signal content.
  • TickerSTM
  • ISINNL0000226223
  • ExchangeEuronext Paris
  • SectorTechnology Hardware & Equipment
  • CountryNetherlands

STMicroelectronics: 1 director sold after exercising options/sold

A director at STMicroelectronics sold after exercising options/sold 80,000 shares at 24.820EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Stocks

EAFE > EM; Add exposure to Japan Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). Below we highlight attractive and actionable themes within developed int'l: • Japan, Switzerland, Australia, Canada. Major Japanese indexes have been underperforming for nearly two years but are making bullish price and RS inflections and exhibit early signs of bottoming. Switzerland, Australia, and Canada are all trading at multi-year highs and are among the most attractive coun...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Not too bullish, not too bearish Despite several indexes recently touching new 52+ week highs, broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) remain near logical resistance, and indicators continue to send mixed signals. As a result we are hesitant to get too bullish or bearish. Instead we want to focus on Sector/Group/industry themes where we bottoming price and RS, or attractive pullback opportunities within established price and RS uptrends. Below we highlight some of these themes along with indicators that support our overall constructive -- yet tempered -- outlook. • Positiv...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Global Ex-U.S. Equity Strategy

In our January 31 International Compass we presented a case for an incrementally improving overall global outlook, with the caveat that market bottoms tend to be a process that develops over many weeks. Since the end of January, not a lot has changed to alter our views. We remain constructive overall and continue to believe that global equities (MSCI ACWI) are going through a bottoming process. Opportunities exist but Sector leadership is mixed. In our February International Strategy, we explore various themes which lead to our overall constructive outlook, along with areas of the market wher...

Jérôme VINERIER

Short term view - STMICRO ELECTRONICS NV : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €10.460. The background trend would be questioned should prices rise above €16.701.

STMicroelectronics: 1 director sold after exercising options/sold

A director at STMicroelectronics sold after exercising options/sold 80,000 shares at 24.820EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under ...

Frederic Yoboue

STMICROELECTRONICS | BUY | EUR30 vs. EUR27 Improved short term visibility and continuing build-up of long-term strategic drivers

Better-than-expected improvement in market conditions Reassuring on identified risks even if some uncertainties remain Intact - even reinforced – long-term growth drivers

Stephane Houri

STMicroelectronics N.V. : Normalisation = results and guidance higher than expected, but several unknowns persist in Q4

>Q2 results clearly higher than expected thanks to MCU and discrete - Q2 sales came to $ 2,087m vs the consensus forecast of $ 1,996m, i.e. -6.5% q-o-q, 380bp better than the company’s guidance (-10.3% +/-350bp). The gross margin came to 35% including 310bp in unsaturation charges vs the consensus forecast of 34.5% and guidance of 34.6% +/-200bp. EBIT came to $ 106m, i.e. an operating margin of 5%, vs the consensus forecast of $ 57.1m and 2.9%. EPS was $ 0.10, higher...

Stephane Houri

STMicroelectronics N.V. : Normalisation = résultats et guidance supérieurs aux attentes, mais plusieurs inconnues subsistent sur T4

>Des résultats T2 clairement > aux attentes grâce aux MCU et aux discrets - Le CA T2 est ressorti à 2 087 M$ vs un consensus de1 996 M$, soit -6.5% qoq, 380 pb mieux que la guidance de la société (-10,3 % +/- 350 pb). La MB s’est établie à 35%, incluant 310 pb de charges d'insaturation, vs un consensus de 34.5% et une guidance de 34.6% +/- 200 pb. L'EBIT s’est élevé à 106 M€, soit une MOP de 5%, vs consensus de 57.1 M$ et 2.9%. Le BPA de 0.10 $ est supérieur au consen...

Stephane Houri

STMicroelectronics N.V. : Better-than-expected Q2 results and Q3 guidance, FY outlook improved

>Q2 2020 results clearly above expectations - Revenues came in $ 2,087m, above the Infront Data consensus estimates of $ 1,996m. It is down just 6.5% q-o-q or 380bp better than the company’s guidance (a sequential decrease of 10.3% +/- 350bp). The gross margin was 35% including 310bp of unsaturation charges, above the consensus at 34.5%. Guidance was 34.6% +/- 200bp including 400bp of unsaturation charges. EBIT was $ 106m, i.e. an EBIT margin of 5% vs consensus at $ ...

Stephane Houri

STMicroelectronics N.V. : Better-than-expected Q2 results and Q3 guidance, FY outlook improved

>Q2 2020 results clearly above expectations - Revenues came in $ 2,087m, above the Infront Data consensus estimates of $ 1,996m. It is down just 6.5% q-o-q or 380bp better than the company’s guidance (a sequential decrease of 10.3% +/- 350bp). The gross margin was 35% including 310bp of unsaturation charges, above the consensus at 34.5%. Guidance was 34.6% +/- 200bp including 400bp of unsaturation charges. EBIT was $ 106m, i.e. an EBIT margin of 5% vs consensus at $ ...

STMicroelectronics N.V.: Solid Q2 20 results and strong outlook for full year despite a challenging environment

ST reported solid Q2 figures and provided a strong outlook on FY 20 despite covid 19 challenges

STMicroelectronics N.V.: Solid Q2 20 results and strong outlook for full year despite a challenging environment

ST reported solid Q2 figures and provided a strong outlook on FY 20 despite covid 19 challenges

STMicroelectronics N.V.: Sound Q1 20 results and a solid outlook despite a challenging environment

ST reported solid Q1 figures and provided a sound outlook on FY 20 despite covid 19 challenges

STMicroelectronics N.V. - December 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

STMicroelectronics N.V.: Update on Discussion of Key Credit Factors

Our credit view of ST, reflecting its diverse product portfolio and pipeline of design wins its solid balance sheet metrics, but relatively high capital intensity compared to peers.

Antoine Boivin-Champeaux ...
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/24/2020

The shock caused by the COVID-19 pandemic is much bigger than the previous impacts seen since the Bureau Veritas IPO (October 2007), whether from the financial crisis (2008-2009), the sudden drop in oil prices (2014-2015) or the trade war (2019). Q2 2020 results will show historically large organic declines (double digits in some cases) even though sector groups theoretically have resilient and diversified profiles. Eurofins and Bureau Veritas are our Top Picks. We downgrade Applus to...

Antoine Boivin-Champeaux ...
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 24/07/2020

Le choc du COVID-19 dépasse largement les précédents impacts négatifs rencontrés depuis l’introduction en Bourse de Bureau Veritas (octobre 2007), que ce soit la crise financière (2008-2009), la chute brutale du cours du pétrole (2014-2015) ou la guerre commerciale (2019). Ces T2 2020 auront un caractère historique par l’ampleur de leur régression organique (à deux chiffres parfois) malgré des profils théoriquement résilients et diversifiés. Eurofins et Bureau Veritas sont nos valeurs...

Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/23/2020

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Louis Boujard, CFA ...
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/07/2020

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Emmanuel Matot ...
  • Sylvain Goyon, CFA

ODDO BHF Small & MIDCAP MORNING NEWS - 07/20/2020

Discussing a return of inflation may seem irrelevant at a time when there is so much downward pressure on prices (unemployment, raw materials). Inflation swaps are nonetheless picking up. Perhaps this is due to the effects of several long-term trends (ageing of the population, de-globalisation, etc.) combined with base effects on raw materials. While this return is likely to be gradual, it will imply an adjustment of portfolios. Value (banks) and commodities (mining) should benefit, e...

Thanks to a better fundamental star rating, STMICROELECTRONICS NV sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to STMICROELECTRONICS NV (FR), active in the Semiconductors industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date June 19, 2020, the closing price was EUR 24.01 and its expected value was estimated at EUR 22.50.

STMicroelectronics – AGM 17 june 2020

In accordance with Dutch law, the company now proposes an advisory vote on the remuneration granted to the executive and on the remuneration policies of the Board and the Management Board.   With regard to the executive's 2019 compensation, the company's communication falls far short of its CAC 40 peers and is not commensurate with a company of the scale of STMicroelectronics. It does not make it possible to understand how the amounts awarded were determined. With regard to the compensation policies of the Board and the Management Board, the Company does not disclose any information on the ...

STMicroelectronics N.V. - Assemblée Générale des actionnaires du 17 Juin 2020

Conformément au droit néerlandais, la société propose désormais un vote consultatif sur les rémunérations attribuées au dirigeant et sur les politiques de rémunérations du conseil et du directoire.Concernant les rémunérations 2019 du dirigeant, la communication de la société est très en deçà des pairs du CAC 40 et n’est pas à la hauteur d’une société de l’envergure de STMicroelectronics. Elle ne permet pas de comprendre comment ont été déterminés les montants attribués. Concernant les politiques de rémunérations du conseil et du directoire, la société ne communique aucune information sur les ...

Expert Corporate Governance Service (ECGS)

STMicroelectronics N.V. - Assemblée Générale des actionnaires du 23 mai 2019

Comme chaque année, il est proposé de voter l'attribution au Président du Directoire, 100 000 actions de performance. Depuis Juin 2018, M. Jean-Marc Chery est à la tête de la société en remplacement de M. Carlo Bozotti. Cependant, malgré une quantité maîtrisée, en raison des conditions de performance court-termistes et non quanti?ées, la résolution ne semble pas acceptable (résolution 5.a). La société propose de voter à faveur d’un bonus exceptionnel en actions pour le Directeur Général pouvant représenter jusqu'à 60% de son salaire fixe et basé sur des critères "pré-déterminés et quantifiabl...

Expert Corporate Governance Service (ECGS)

STMicroelectronics - AGM 23 May 2019

As every year, it is proposed to vote  the grant to the CEO of 100,000 performance shares. Since June 2018, Jean-Marc Chery is the CEO of the company, replacing Carlo Bozotti. However, despite a low number of shares, due to short-term and non-quantified performance conditions, the resolution does not seem acceptable (Resolution 5.a ). The company proposes to vote for an exceptional bonus payable in shares for the CEO that can represent up to 60% of his fixed salary and based on "pre-determined and quantifiable" criteria, but they are not communicated. By adding the cash bonus (150% of the fix...

St Microelectronics – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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