Melexis : Still our pick in midcaps exposed to automotive for 2022
>Third increase in the guidance after a very solid Q3 - Melexis reported solid Q3 2021 earnings. Sales came to € 162.8m, beating the consensus forecast of € 159.1m, up 34% y-o-y. The gross margin came to 43.4%, beating the consensus at 42.1%, driven by favourable trends in exchange rates and the product mix. EPS came in at € 0.9, well above the consensus forecast of € 0.77. The group once again increased its full-year guidance and now expects sales growth of 26% vs t...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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