Melexis : Positive tone on Q4, but we fear that the risks relating to the renewed lockdowns in Europe are not fully taken into account
>Q3 2020 results much higher than expected, driven by the recovery of the automotive market despite a low gross margin - Yesterday morning Melexis reported Q3 sales of € 121.6m, up 21% sequentially and 2% y1eo1ey. This beat the consensus forecast of € 111.9m. The gross margin came to 36.9%, below the consensus forecast of 38.7% due to the revaluation of inventories to reflect the negative impact of the $/€. EBIT came to € 15.7m, i.e. an EBIT margin of 12.9%, clearly be...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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