Report
Frederic Yoboue

STMICROELECTRONICS: Q2 results broadly in line with expectations but 2019 guidance revised slightly downwards | BUY | EUR19(+12%)

STMICROELECTRONICS - BUY | EUR19(+12%)
Q2 results broadly in line with expectations but 2019 guidance revised slightly downwards

Q1 2019 results are broadly in line with expectations
Well-below-expectations from ADG offset by strong growth in AMS
Q3 guidance is in line however ST revised down its 2019 guidance
Underlying
STMicroelectronics NV

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.

Provider
Bryan Garnier
Bryan Garnier

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.

Analysts
Frederic Yoboue

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