>We lower our estimates by 33% to take into account the new scenario for 2024 and cut our target price to € 48 (vs € 50), but remain at Outperform - Following the publication of lower-than-expected Q1 2024 results, Q2 guidance that was also lower than expected and a drastic downward revision to the 2024 guidance, we cut our estimates by an average of 33%, and lower our target price (average of a DCF and SOP) to € 48 (vs € 50). The reset is significant and Q2 2024 shou...
>Révision en baisse de nos prévisions de 33% pour prendre en compte le nouveau scenario 2024 et de notre OC à 48 € (vs 50 €), mais nous restons à Surperformance - Suite à la publication de résultats T1 24 inférieurs aux attentes, d’une guidance T2 également inférieure et d’une révision en baisse drastique de la guidance 2024, nous abaissons nos prévisions de 33% en moyenne, ainsi que notre OC (moyenne d’un DCF et d’une SOP) à 48 € (vs 50 €). Le ‘reset’ est significati...
Having flirted with the 495-point mark on Friday, which could have triggered an extension of the correction, the market has rebounded well since then. Our technical analysis highlights a configuration in which we are only at the start of a powerful rally. Target of 622 points for Stoxx 600 index (+11%) by the end of the year confirmed. Prefer banks to insurance companies in the short term. - ...
Après avoir frôlé vendredi la barre des 495 points qui aurait pu déclencher la poursuite de la correction, le marché a ensuite bien rebondi. Notre analyse technique met en lumière une configuration où nous ne serions qu’au début d’un rallye puissant. Objectif 622 points (+11%) d’ici à la fin de l’année confirmé sur le Stoxx 600. Préférer les banques aux assurances à court terme. - ...
>Q1 2024 results below expectations driven by automotive and an acceleration of the ongoing correction - This morning, STM reported its Q1 2024 results which were clearly below expectations. Revenues were $ 3,465m, down 19,1% q-o-q and down 18.4% y-o-y, below consensus at $ 3.6bn. Guidance was for revenues at $3.6bn, a q-o-q decrease of 15.9%, +/- 350bp. The gross margin was 41.7% also clearly below consensus at 42.3% (guidance was at 42.3% +/- 200bp). EBIT stood at $...
>Q1 2024 results below expectations driven by automotive and an acceleration of the ongoing correction - This morning, STM reported its Q1 2024 results which were clearly below expectations. Revenues were $ 3,465m, down 19,1% q-o-q and down 18.4% y-o-y, below consensus at $ 3.6bn. Guidance was for revenues at $3.6bn, a q-o-q decrease of 15.9%, +/- 350bp. The gross margin was 41.7% also clearly below consensus at 42.3% (guidance was at 42.3% +/- 200bp). EBIT stood at $...
STMicroelectronics Reports 2024 First Quarter Financial Results PR No: C3254C STMicroelectronics Reports 2024 First Quarter Financial Results Q1 net revenues $3.47 billion; gross margin 41.7%; operating margin 15.9%; net income $513 millionQ1 free cash flow1 $(134) million after Net Capex1 of $967 million Business outlook at mid-point: Q2 net revenues of $3.2 billion and gross margin of 40% Geneva, April 25, 2024 – STMicroelectronics N.V. (“ST”) (NYSE: STM), a global semiconductor leader serving customers across the sp...
STMicroelectronics annonce ses résultats financiers du premier trimestre 2024 PR No: C3254C STMicroelectronics annonce ses résultats financiers du premier trimestre 2024 Premier trimestre 2024 : chiffre d’affaires net de 3,47 milliards de dollars ; marge brute de 41,7 % ; marge d’exploitation de 15,9 % ; résultat net de 513 millions de dollars.Free cash flow1 au premier trimestre de (134) millions de dollars après un Capex net1 de 967 millions de dollars.Point médian des perspectives pour le deuxième trimestre : chiffre d’affaires net de 3,2 mil...
STMicroelectronics Announces Status of Common Share Repurchase Program STMicroelectronics Announces Status ofCommon Share Repurchase Program Disclosure of Transactions in Own Shares – Period from Apr 15, 2024 to Apr 19, 2024 AMSTERDAM – April 22, 2024 -- STMicroelectronics N.V. (the “Company” or “STMicroelectronics”), a global semiconductor leader serving customers across the spectrum of electronics applications, announces full details of its common share repurchase program (the “Program”) disclosed via a press release dated July 1, 2021. The Program was approved by a shareholder resoluti...
ROHM Group Company SiCrystal and STMicroelectronics Expand Silicon Carbide Wafer Supply Agreement ROHM Group Company SiCrystal and STMicroelectronics Expand Silicon Carbide Wafer Supply Agreement Kyoto, Japan and Geneva, Switzerland, April 22, 2024 – ROHM (TSE: 6963) and STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced today the expansion of the existing multi-year, long-term 150mm silicon carbide (SiC) substrate wafers supply agreement with SiCrystal, a ROHM group company. The new multi-year agreemen...
SiCrystal, société du groupe ROHM, et STMicroelectronics étendent leur accord portant sur la fourniture de plaquettes de carbure de silicium SiCrystal, société du groupe ROHM, et STMicroelectronics étendent leur accord portant sur la fourniture de plaquettes de carbure de silicium Kyoto (Japon) et Genève (Suisse), le 22 avril 2024 — ROHM (TSE : 6963) et STMicroelectronics (NYSE : STM), un leader mondial des semiconducteurs dont les clients couvrent toute la gamme des applications électroniques, annoncent aujourd’hui l’extension de l’accord existant pluriannuel et de long terme portant sur ...
STMicroelectronics publie l’édition 2024 de son rapport Développement Durable STMicroelectronics publie l’édition 2024 de son rapport Développement Durable ST est en bonne voie pour atteindre la neutralité carbone pour les scopes 1 et 2, ainsi qu’une partie du scope 3, d’ici 2027 y compris l'approvisionnement mondial en électricité provenant d’énergie renouvelable atteignant 71 % en 2023 au lieu de 62 % en 2022. 87 % des employés recommanderaient ST comme une entreprise où il fait bon travailler.ST a investi 12,2 % de son chiffre d’affaires net (soit 2,1 milliards de dollars US) en R&D en...
STMicroelectronics Publishes 2024 Sustainability Report STMicroelectronics Publishes 2024 Sustainability Report On track to become carbon neutral on scope 1 and 2, and partially scope 3, by 2027 with global sourcing of electricity from renewable energy growing to 71% in 2023, from 62% in 202287% of employees would recommend ST as a great place to work12.2% of net revenues (US$2.1 billion) invested in R&D to support innovation Geneva, Switzerland, April 16, 2024 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications...
STMicroelectronics Announces Status of Common Share Repurchase Program STMicroelectronics Announces Status ofCommon Share Repurchase Program Disclosure of Transactions in Own Shares – Period from Apr 08, 2024 to Apr 12, 2024 AMSTERDAM – April 15, 2024 -- STMicroelectronics N.V. (the “Company” or “STMicroelectronics”), a global semiconductor leader serving customers across the spectrum of electronics applications, announces full details of its common share repurchase program (the “Program”) disclosed via a press release dated July 1, 2021. The Program was approved by a shareholder reso...
STMicroelectronics and Centrica Energy sign long-term agreement for the supply of electricity produced from renewable sources in Italy PR N°: C3249C STMicroelectronics and Centrica Energy sign long-term agreement for the supply of electricity produced from renewable sources in Italy 10-year contract for energy produced by a new solar farm in ItalyPPA will support 2027 carbon neutral and 100% renewable energy sourcing goals of semiconductor manufacturer with 2 large-volume manufacturing sites in Italy Geneva (Switzerland) and Aalborg (Denmark), Ap...
STMicroelectronics Announces Status of Common Share Repurchase Program STMicroelectronics Announces Status ofCommon Share Repurchase Program Disclosure of Transactions in Own Shares – Period from Apr 02, 2024 to Apr 05, 2024 AMSTERDAM – April 8, 2024 -- STMicroelectronics N.V. (the “Company” or “STMicroelectronics”), a global semiconductor leader serving customers across the spectrum of electronics applications, announces full details of its common share repurchase program (the “Program”) disclosed via a press release dated July 1, 2021. The Program was approved by a shareholder resoluti...
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