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Fly News Breaks for November 22, 2016
STM, MRVL, IFNNY, SWKS, MSCC
Nov 22, 2016 | 08:08 EDT
After press reports suggested that Microsemi (MSCC) could be acquired by Skyworks (SWKS), SunTrust analyst William Stein estimates, based on past semiconductor deals, that Microsemi could be acquired for $70-$90 per share. The analyst thinks that Infineon (IFNNY), Marvell (MRVL), and STMicroelectronics (STM) could also be interested in acquiring Microsemi. The analyst keeps a $58 price target and a Buy rating on Microsemi.
News For MSCC;SWKS;IFNNY;MRVL;STM From the Last 2 Days
STM
Apr 25, 2024 | 06:01 EDT
The company said, "We will now drive the Company based on a revised plan for FY24 revenues in the range of $14 billion to $15 billion. Within this plan, we expect a gross margin in the low 40's. We plan to maintain our Net Capex1 plan for FY24 at about $2.5 billion focusing on our strategic manufacturing initiatives."
STM
Apr 25, 2024 | 05:59 EDT
STM
Apr 25, 2024 | 05:57 EDT
Reports Q1 revenue $3.47B, consensus $3.61B. Jean-Marc Chery, ST President & CEO, commented: "Q1 net revenues and gross margin both came in below the midpoint of our business outlook range, driven by lower revenues in Automotive and Industrial, partially offset by higher revenues in Personal Electronics."
