STMicroelectronics price target raised to EUR 45 from EUR 42 at Barclays » 14:5907/3007/30/21
Barclays analyst Andrew…
Barclays analyst Andrew Gardiner raised the firm's price target on STMicroelectronics to EUR 45 from EUR 42 and keeps an Overweight rating on the shares.
STMicroelectronics price target raised to EUR 37 from EUR 36.50 at JPMorgan » 14:4107/3007/30/21
JPMorgan analyst Sandeep…
JPMorgan analyst Sandeep Deshpande raised the firm's price target on STMicroelectronics to EUR 37 from EUR 36.50 and keeps a Neutral rating on the shares.
STMicroelectronics price target raised to $52 from $49 at Cowen » 08:4307/3007/30/21
Cowen analyst Matthew…
Cowen analyst Matthew Ramsay raised the firm's price target on STMicroelectronics to $52 from $49 and keeps an Outperform rating on the shares. The analyst said they posted a strong beat and raise likely putting to rest any residual fears from its conservative analyst day.
STMicroelectronics sees Q3 revenue $3.2B, consensus $3.08B 05:4007/2907/29/21
Sees Q3 gross margin 41%.…
STMicroelectronics reports Q2 EPS 44c, consensus 37c » 05:4007/2907/29/21
Reports Q2 revenue…
Reports Q2 revenue $2.99B, consensus $2.89B. Jean-Marc Chery, STMicroelectronics president & CEO, commented: "Q2 net revenues and gross margin came in at the high-end of our business outlook range driven by continued strong demand globally. On a year-over-year basis, Q2 net revenues increased 43.4%. Q2 gross margin of 40.5% and operating margin of 16.3% improved 550 and 1,120 basis points, respectively, and net income increased 357.2% to $412 million."
STMicroelectronics manufactuers first 200m silicon carbide wafers » 09:0407/2707/27/21
STMicroelectronics announced it has manufactured the first 200mm Silicon-Carbide bulk wafers for prototyping next-generation power devices from its facility in Norrkoping, Sweden. "The transition to 200mm SiC wafers marks an important milestone in the capacity build-up for ST's customer programs in automotive and industrial sectors and will consolidate ST's lead in the disruptive semiconductor technology that allows for smaller, lighter, and more efficient power electronics with a lower total cost of ownership," the company said. This milestone comes as part of the company's planned move to more advanced, cost-efficient 200mm SiC volume production. This transition is within the company's ongoing plan to build a new SiC substrate plant and source over 40% of its SiC substrates internally by 2024. "The transition to 200mm SiC wafers will bring substantial advantages to our automotive and industrial customers as they accelerate the transition towards electrification of their systems and products", said Marco Monti, President Automotive and Discrete Group, STMicroelectronics. "It is important in driving economies of scale as product volumes ramp. Building robust know-how in our internal SiC ecosystem across the full manufacturing chain, from high-quality SiC substrates to large-scale front- and back-end production, boosts our flexibility and allows us to better control the improvement of yield and quality of the wafers."
STMicroelectronics says Bouskoura to use 50% renewable energy sources by 2022 » 09:0307/2607/26/21
As part of its action…
As part of its action plan to achieve carbon-neutrality by 2027, STMicroelectronics announcedthat its Bouskoura site in Morocco will procure 50% of its energy from renewable sources by 2022 compared to 1 % in 2020. STMicroelectronics has been present in Bouskoura for over 20 years with a back-end plant which employs 2,800 people. The site has developed several programs over the last few years to reduce its indirect greenhouse gas emissions and augment the use of renewable energy sources: The purchase of electrical power generated by wind farm: the electricity of 12 wind turbines produced by InnoVent in North Morocco will be fed into Morocco's national power grid and then, purchased by ST. Located in Oualidia - El Jadida in northwest Morocco, near the Atlantic Ocean, the 10-hectare wind farm built by InnoVent, a company specialized in the development and operation of wind and solar farms in France and Africa, started producing electricity on March 2021 and will reach its full capacity of 36 MW at the end of the year. With annual output expected to reach more than 80 gigawatt-hours of green energy, the wind farm should contribute to reduce the Bouskoura facility's CO2 emissions by about 60,000 metric tons per year - or the amount of carbon captured by planting 1,100,000 trees. Solar power generation. In December 2019, ST Bouskoura set up a solar carport, with 2,400 solar panels providing peak power of 672 kilowatts and spanning some 4,000 square meters. With annual production of more than 1 gigawatt-hour of photovoltaic energy, this program reduces the site's annual CO2 emissions by nearly 740 metric tons. The solar energy from this carport provides some of Bouskoura's own power needs, to complement the power supplied by the wind farm. Replacement of conventional light bulbs by LED lighting for the entire site. Kicked off in September 2020, this program will reduce the site's annual power consumption by 1.3 GWh.
|Over a week ago|
STMicroelectronics upgraded to Neutral from Sell at Goldman Sachs » 18:2407/2107/21/21
Goldman Sachs analyst…
Goldman Sachs analyst Alexander Duval upgraded STMicroelectronics to Neutral from Sell with a EUR 34 price target. Duval said he made the upgrade in the context of third-quartile upside versus his Europe Tech coverage, as well as roughly 5%-6% upside to his unchanged price target. The analyst added that the company continues to have "solid" long-term prospects in secular growth areas related to green transport, automation of the car, and advanced communications.
STMicroelectronics, Unilumin jointly develop LED display » 05:2107/2107/21/21
STMicroelectronics and Unilumin announced that they have worked together to develop a new Unilumin display using the ST60A2, ST's 60GHz RF transceiver for advanced high-data-rate contactless-transfer solutions. The new range of Unilumin LED displays with the ST60A2 contactless link benefits from the elimination of cables and connectors to achieve significant cost saving by reducing both assembly and maintenance efforts. As important, the contactless approach enhances system reliability for the customers.
STMicroelectronics upgraded to Buy from Neutral at Citi » 09:1707/0907/09/21
Citi analyst Amit…
Citi analyst Amit Harchandani upgraded STMicroelectronics to Buy from Neutral with a price target of EUR 39, up from EUR 36.50. The analyst says the stock's risk/reward is "increasingly asymmetric to the upside" following the underperformance in the first half of the year. STMicroelectronics' "relative cyclical appeal" is underpinned buy its automotive and industrial exposure, Harchandani tells investors in a research note.