Melexis : Positioning in fact not that immune to economic conditions, hence questions regarding the valuation premium …
>Reduce rating reiterated, target price lowered to € 40, low visibility on the turning point and scale of the recovery in H2 - Following the conference call on Q4 2018 results, we reiterate our Reduce rating, lower our estimates for 2019 by 32% and cut our DCF-derived target price to € 40 (vs € 42). The market has been particularly ‘conciliatory’ with Melexis, in that share closed down just -3%, after dropping at -12% at the start of trading. Yet the group issued a wa...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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