STMicroelectronics N.V. : Road show with CEO/CFO - reassuring stance on the market and STM’s capacity to protect its margins
>With the stock at 5x EBITDA, the market is pricing in a lot of bad news, and not the group's capacity to protect its margins - We organised a road show in Paris with the CEO (Jean Marc Chery), the CFO (Lorenzo Grandi) and the IR team (Celine Berthier and Tait Sorensen). Our takeaway is that the situation in the market is probably less serious than suggested by the drop in the share price. Granted, the group confirmed a drop in sales for the STM 32 (-10%) microco...STMicroelectronics is a global independent semiconductor company that designs, develops, manufactures and markets a broad range of semiconductor integrated circuits (“ICs”) and discrete devices. Co. offers a diversified product portfolio and develops products for a wide range of market applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems. Within its diversified portfolio, Co. is focused on developing products that leverage its technological strengths in creating customized, system-level solutions with digital and mixed-signal content.
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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