Melexis - Q1 and outlook Q2 in line, FY24 guidance repeated
Q1-24 sales in line, GP was 0% to -2% vs. DP/CSS, EBIT beat by 2-5%Sales guidance Q2-24 in line, repeats guidance for FY24We will fine-tune our estimates, TP and Hold rating maintainedMelexis designs, develops, tests and markets advanced integrated circuits primarily for the automotive industry. Co. sells its products to a wide customer base in the automotive, medical and industrial markets in Europe, Asia and North America. Co.'s main products are Hall effect ICs, Pressure and Acceleration Sensors, Sensor Interface ICs, Automotive Systems-on-a-Chip, Embedded Microcontrollers, Bus System Chips, Optical and Infrared sensors. In each case the products are primarily developed for automotive applications and designated lead customers with subsequent use in commercial and industrial applications.
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