Melexis : Overly cautious on H2?
>Following the publication of Q4 and annual results, we reiterate our Neutral rating and increase our target price to € 85 (vs € 80) - Following the publication of Q4 2020 results (initial reaction), we maintain our Neutral rating. Demand for Melexis’ products has accelerated (the group said that it now has 13 chips per vehicle on average vs 10 and is aiming for 20) and orders received allow it to give very solid Q1 guidance (sales at an all-time high of € 160m). Howe...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.
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.
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