STMicro Continues to Fly in ToF Sensors and Drive Along in Automotive; Raising FVE to $22
STMicroelectronics reported strong fourth-quarter results, with revenue ahead of our expectations, and provided investors with nice guidance for the first quarter. All in all, business conditions appear quite strong, both at Apple regarding the sales of time-of-flight sensors used in the iPhone X, as well as the firm’s diverse array of industrial and automotive customers. We are raising our fair value estimate for no-moat ST’s U.S. ADR to $22 from $17 (and local shares to EUR 18 from EUR 15) as ...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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