Melexis Proving that the answer to competition is innovation
We updated our Melexis' model after a nice set of 3Q23 results showing that -despite geopolitical challenges and softer EV (electric vehicles) demand- they continue their growth path. Impacted by a beat in 3Q23 results and the slightly higher guidance for FY23E EBIT margin (now above 27% compared to previously around 27%) we upped slightly our FY23E profitability forecasts. We maintain our Accumulate rating and € 110 Target Price.Melexis 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.
We are a financial services provider for several types of professional clients, each with distinct needs.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.