STMicro Still Thriving in Automotive and IoT Applications; Maintaining $22 FVE
STMicroelectronics reported solid first-quarter results and provided investors with a nice second-quarter forecast that points to healthy ongoing demand in industrial, automotive, and Internet of Things applications; this should help the company overcome near-term weakness in the smartphone market, primarily at Apple. We will maintain our fair value estimates of $22 per U.S. ADR and EUR 18 per share for no-moat STMicro.ST’s revenue in the March quarter was $2.23 billion, down 10% sequentially b...
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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