Report
Stephane Houri

Melexis : A possible slight positive over reaction on results?

>Comments slightly more positive (despite results being broadly in line) which has set things off - Yesterday, Melexis gained 14% at the publication of Q3 2019 results and guidance for Q4 2019 which were broadly in line with forecasts (a shade above for sales, offset by a weaker gross margin). (Link to our First Take). We think that the market reaction is exaggerated. The market reacted enthusiastically to the comments in the press release which were slightly more pos...
Underlying
Melexis NV

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Houri

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