Melexis : Potentially no growth in 2025, but the low point is probably not far off
>Target price of € 85 (vs € 100) and Outperform opinion – The low point is probably not that far off and the valuation already prices in much bad news - Melexis shares closed down 13% yesterday after disappointing Q4 guidance. While the weakness of the automotive segment was already clearly identified, the scale of the quarter-on-quarter decline in Q4 came as a surprise (-17%). In these conditions, and seeing that inventory adjustments may continue for another few qua...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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