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Fly News Breaks for January 24, 2020
STM
Jan 24, 2020 | 06:17 EDT
Baird analyst Tristan Gerra upgraded STMicroelectronics to Neutral from Underperform with a price target of $30, up from $20. The analyst the current semiconductor cycle trough is "much shallower" than previously expected. Further, the significant tech supply chain inventory declines in past few quarters highlight end-demand resiliency, Gerra tells investors in a research note. The analyst also highlights demand strength from STMicroelectronics' primary electric vehicle automotive customer and ongoing momentum for 3D sensing.
News For 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."
