STMICROELECTRONICS: Building up a solid set of design wins | BUY | EUR23.5 vs. EUR21 (+17%)
STMICROELECTRONICS - BUY | EUR23.5 vs. EUR21 (+17%)Building up a solid set of design wins
Lower than expected performance in the legacy auto business
Some positive trends in industrial alongside solid design wins
ST is strengthening its leadership in key smartphone applications
ST to acquire the remaining share of Norstel
We increase our FV from EUR21 to EUR23.5
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.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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