STMicroelectronics

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.
  • TickerSTM
  • ISINNL0000226223
  • ExchangeEuronext Paris
  • SectorTechnology Hardware & Equipment
  • CountryNetherlands

Analysts

Frederic Yoboue

SEMICONDUCTORS BG Technology Conference 2019

On March 14th and 15th, we hosted six semiconductor companies, namely ASMI, Besi, Dialog, Infineon, Soitec, and STMicroelectronics. We found the overall message as reassuring even though the tone was still on the cautious side. We key findings and conclusions relate on Besi (Neutral, FV EUR23), Infineon (Buy, FV EUR22.5), Soitec (Buy, FV EUR85) and STMicroelectronics (Buy, FV EUR19).

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Stephane Houri
  • Steven Gould
  • Veysel Taze
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/18/2019

...

Ahmed Ben Salem ...
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Matthias Desmarais
  • Olivier Lebrun
  • Stephane Houri
  • Veysel Taze
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/06/2019

...

Ahmed Ben Salem ...
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Matthias Desmarais
  • Olivier Lebrun
  • Stephane Houri
  • Veysel Taze
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/03/2019

...

Stephane Houri ...
  • Veysel Taze

ODDO : Worldwide sales in January 2019 down 5.7% - The deceleration becomes a decline, as expected

>January 2019 : A 5.7% decline in sales, the first since July 2016 - Worldwide semiconductor sales for January 2019 have been published by WSTS (World Semiconductor Trade Statistics), as usual with a month’s lag. On a three-month moving average, January’s sales came to $ 35.5bn (in line with our forecast), representing a y-o-y decline of 5.7%. As expected, the deceleration that began at end-June (when the market stood at +20.5%) is now a decline, after +0.6% in Decemb...

STMicroelectronics N.V.: Update on Discussion of Key Credit Factors

Annual Update - STMicroelectronics' rating remains comfortably positioned

STMicroelectronics N.V. - September 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

STMicroelectronics N.V. - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

STMicroelectronics N.V. - March 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Stephane Houri
  • Steven Gould
  • Veysel Taze
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/18/2019

...

Ahmed Ben Salem ...
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Matthias Desmarais
  • Olivier Lebrun
  • Stephane Houri
  • Veysel Taze
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/06/2019

...

Ahmed Ben Salem ...
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Matthias Desmarais
  • Olivier Lebrun
  • Stephane Houri
  • Veysel Taze
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/03/2019

...

Stephane Houri ...
  • Veysel Taze

ODDO : Worldwide sales in January 2019 down 5.7% - The deceleration becomes a decline, as expected

>January 2019 : A 5.7% decline in sales, the first since July 2016 - Worldwide semiconductor sales for January 2019 have been published by WSTS (World Semiconductor Trade Statistics), as usual with a month’s lag. On a three-month moving average, January’s sales came to $ 35.5bn (in line with our forecast), representing a y-o-y decline of 5.7%. As expected, the deceleration that began at end-June (when the market stood at +20.5%) is now a decline, after +0.6% in Decemb...

Stephane Houri ...
  • Veysel Taze

ODDO : Ventes mondiales de janvier 2019 en baisse de 5.7% - La décélération se transforme en baisse, comme attendu

>Janvier 2019 : baisse des ventes de 5.7%, la 1ère depuis juillet 2016 - Les ventes mondiales de semi-conducteurs de janvier 2019 ont été publiées par la WSTS (World Semiconductor Trade Statistics), comme d’habitude avec un mois de décalage. En données lissées (MM3 – Moyennes Mobiles 3 mois), elles ressortent à 35.5 Md$ (en ligne avec notre prévision), en baisse annuelle de 5.7%. Comme prévu, la décélération commencée à fin juin (où le marché était à +20.5%) s’est don...

1 director sold

A director at STMicroelectronics sold 17,000 shares at 22.310USD and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The name...

Ahmed Ben Salem ...
  • Alain William
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/01/2019

Unlike CEO pay, the average remuneration paid to the chairs of the boards of directors of the large cap companies covered by ODDO BHF increased by 4.9% between 2013 and 2017. The disparities between companies stem mainly from national contexts and widely differing perceptions of the role of the board chair depending on the countries, though for certain stocks the ownership structure and sector situation may have an influence. Cf. Report published last evening. - ...

Alain William ...
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Corby
  • Rémi Adam
  • Salma Bouraoui
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 03/01/2019

...

Alain William ...
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Corby
  • Rémi Adam
  • Salma Bouraoui
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 01/03/2019

...

Ahmed Ben Salem ...
  • Alain William
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 01/03/2019

Contrairement aux rémunérations de CEO, la moyenne des sommes versées aux présidents de conseil d’administration dans les large caps suivies chez Oddo BHF a connu une hausse de 4.9% entre 2013 et 2017. Les disparités entre les sociétés relèvent principalement de contextes nationaux et d’une perception du rôle de président(e) très différents selon les pays, même si la situation actionnariale et sectorielle peut, pour certaines valeurs, avoir une influence. Cf. étude publiée hier. - ...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/22/2019

The tragedy which struck the Brumadinho complex (state of Minas Gerais in Brazil) belonging to mining giant Vale has radically changed the fundamentals underpinning supply and demand in the iron ore market. Accordingly we are revising up our price scenario for 2019-2021 by 15% on average and are adopting a Neutral recommendation on Rio Tinto (vs Reduce) which has the greatest exposure. We are sticking with our Buy recommendation on ArcelorMittal. - ...

STMicroelectronics

STMicroelectronics

STMicroelectronics

STMicroelectronics

STMicroelectronics

Frederic Yoboue

SEMICONDUCTORS BG Technology Conference 2019

On March 14th and 15th, we hosted six semiconductor companies, namely ASMI, Besi, Dialog, Infineon, Soitec, and STMicroelectronics. We found the overall message as reassuring even though the tone was still on the cautious side. We key findings and conclusions relate on Besi (Neutral, FV EUR23), Infineon (Buy, FV EUR22.5), Soitec (Buy, FV EUR85) and STMicroelectronics (Buy, FV EUR19).

Frederic Yoboue

Favour Infineon, STM, and Soitec in early 2019

In this short update, we give our opinion on the current momentum and the companies we favour in early 2019. Semi stocks experienced a sharp correction with companies in our coverage down 23% in average (excl. Dialog) in H2 2018 as we started to see a deceleration in the industry momentum and macro uncertainties especially in China. However, analysts’ EPS cuts explain half of the correction suggesting the other half coming from higher perceived risks by investors. Nonetheless, we anticipate low single-digit growth of 4% in semiconductor sales for 2019 driven by the same long-term trends in aut...

St Microelectronics – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Global Ex-U.S. Equity Strategy

In our January 31 International Compass we presented a case for an incrementally improving overall global outlook, with the caveat that market bottoms tend to be a process that develops over many weeks. Since the end of January, not a lot has changed to alter our views. We remain constructive overall and continue to believe that global equities (MSCI ACWI) are going through a bottoming process. Opportunities exist but Sector leadership is mixed. In our February International Strategy, we explore various themes which lead to our overall constructive outlook, along with areas of the market wher...

Jérôme VINERIER

Short term view - STMICRO ELECTRONICS NV : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €10.460. The background trend would be questioned should prices rise above €16.701.

Jérôme VINERIER

Analyse court terme - STMICRO ELECTRONICS NV : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 10,460 €. La tendance de fond serait remise en cause en cas de franchissement de 16,701 €.

Jérôme VINERIER

Short term view - STMICRO ELECTRONICS NV : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €10.460, then €8.850. Passing €16.701 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - STMICRO ELECTRONICS NV : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 10,460 €, puis 8,850 €. Le franchissement de 16,701 € remettrait en cause la suite de la baisse.

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