Melexis : Solid Q2 24 results, Q3 2024 guidance slightly below expectations, FY 2024 outlook reiterated – EPS cut by ~4%, TP adjusted to € 100 (vs € 105)
>Q2 2024 results broadly in line with expectations - This morning, Melexis reported its Q2 2024 results which were broadly in line with expectations. Revenues came in at € 245.7m, in line with consensus estimates at € 245.1m (vs the guidance range of € 242-247m). They were up 2% q-o-q and up 4% y-o-y. The euro-dollar exchange rate had no impact on sales, both compared with the same quarter last year and the previous quarter. Sales to automotive customers represented 8...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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