Melexis : Solid figures, message probably too cautious, which should generate fresh upward revisions
>Q1 2022 largely above forecasts - Yesterday, Melexis reported Q1 2022 results that beat forecasts. Revenue was € 184m (vs the pre-publication consensus of € 180m), i.e. 18% y-o-y and 11% q-o-q driven by 1/ the availability of additional capacity at XFAB in Corbeil and 2/ the favourable forex trend. The gross margin was 45.2% (vs 42.2% for the consensus) and an operating margin of 27.1% (vs 23.2% for the consensus). EPS was therefore € 1.2, 36% above the consensus at...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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