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

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Frederic Yoboue

STMICROELECTRONICS: Compelling business development and good margins improvement in the near-term | BUY | EUR19.5 vs. EUR19 (+29%)

STMICROELECTRONICS - BUY | EUR19.5 vs. EUR19 (+29%) Compelling business development and good margins improvement in the near-term Automotive offers the most compelling opportunities for ST Leveraging on STM32 leadership to power edge computing ST will enter in volume production for eSIM + NFC in H2 2019

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

...

Stephane Houri

STMicroelectronics N.V. : A positive CMD, with an ambitious margin target, which should be a solid trigger to narrow the valuation gap with Infineon

>Positive message on 2019 and the medium term, with STM set to catch up with and possibly overtake Infineon on margins, Still a Buy - Yesterday in London, at its capital markets day, STM conveyed a very positive message; both 1/ in the short term (confirmed 2019 guidance coupled with details on the gross margin, opex and confirmation of the improvement in orders in Q2 vs Q1), 2/ on its product/market positioning, its industrial organisation and its opportunities, and ...

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

Compares key performance metrics against industry peers.

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.

Frederic Yoboue

STMICROELECTRONICS: Compelling business development and good margins improvement in the near-term | BUY | EUR19.5 vs. EUR19 (+29%)

STMICROELECTRONICS - BUY | EUR19.5 vs. EUR19 (+29%) Compelling business development and good margins improvement in the near-term Automotive offers the most compelling opportunities for ST Leveraging on STM32 leadership to power edge computing ST will enter in volume production for eSIM + NFC in H2 2019

Stephane Houri

STMicroelectronics N.V. : A positive CMD, with an ambitious margin target, which should be a solid trigger to narrow the valuation gap with Infineon

>Positive message on 2019 and the medium term, with STM set to catch up with and possibly overtake Infineon on margins, Still a Buy - Yesterday in London, at its capital markets day, STM conveyed a very positive message; both 1/ in the short term (confirmed 2019 guidance coupled with details on the gross margin, opex and confirmation of the improvement in orders in Q2 vs Q1), 2/ on its product/market positioning, its industrial organisation and its opportunities, and ...

Stephane Houri

STMicroelectronics N.V. : Un CMD positif, avec un objectif de marges ambitieux, qui devrait être un bon catalyseur pour réduire l’écart de valorisation avec Infineon

>Message positif sur le 2019 et le MT, le groupe devrait rattraper voire dépasser Infineon sur les marges, opinion Acheter réitérée - Hier à Londres, à l’occasion de son CMD, STM a délivré un message très positif tant sur 1/ le court terme (réitération de la guidance 2019 accompagnée de précisions sur la marge brute, les Opex et de la confirmation de l’amélioration des commandes au T2 vs T1), 2/ sur son positionnement produit/marché, son organisation industrielle et s...

Brian Colello

Morningstar | ST Provides a Bullish Midterm Target of $12 Billion of Revenue; Maintaining $22 FVE

The highlight of STMicroelectronics' 2019 analyst day, in our view, was its introduction of its midterm financial model, which was ahead of our expectations on the top line and consistent with our prior assumptions on the gross margin and operating margin lines. We remain pleased with ST's transformation and focus on higher-margin products in analog, automotive, and microcontrollers. Meanwhile, investments in silicon-carbide based power semis may lead to $1 billion of revenue (as targeted) by 2025 versus $200 million in 2019. ST anticipates that if the macroeconomy and other factors fare well ...

Brian Colello

ST Provides a Bullish Midterm Target of $12 Billion of Revenue; Maintaining $22 FVE

The highlight of STMicroelectronics' 2019 analyst day, in our view, was its introduction of its midterm financial model, which was ahead of our expectations on the top line and consistent with our prior assumptions on the gross margin and operating margin lines. We remain pleased with ST's transformation and focus on higher-margin products in analog, automotive, and microcontrollers. Meanwhile, investments in silicon-carbide based power semis may lead to $1 billion of revenue (as targeted) by 20...

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...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/09/2019

...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/05/2019

...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/25/2019

...

Thanks to a better fundamental star rating, STMICROELECTRONICS NV sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to STMICROELECTRONICS NV (FR), active in the Semiconductors industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date April 5, 2019, the closing price was EUR 15.56 and its expected value was estimated at EUR 14.01.

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...

Expert Corporate Governance Service (ECGS)

STMicroelectronics N.V. - Assemblée Générale des actionnaires du 23 mai 2019

Comme chaque année, il est proposé de voter l'attribution au Président du Directoire, 100 000 actions de performance. Depuis Juin 2018, M. Jean-Marc Chery est à la tête de la société en remplacement de M. Carlo Bozotti. Cependant, malgré une quantité maîtrisée, en raison des conditions de performance court-termistes et non quanti?ées, la résolution ne semble pas acceptable (résolution 5.a). La société propose de voter à faveur d’un bonus exceptionnel en actions pour le Directeur Général pouvant représenter jusqu'à 60% de son salaire fixe et basé sur des critères "pré-déterminés et quantifiabl...

Expert Corporate Governance Service (ECGS)

STMicroelectronics - AGM 23 May 2019

As every year, it is proposed to vote  the grant to the CEO of 100,000 performance shares. Since June 2018, Jean-Marc Chery is the CEO of the company, replacing Carlo Bozotti. However, despite a low number of shares, due to short-term and non-quantified performance conditions, the resolution does not seem acceptable (Resolution 5.a ). The company proposes to vote for an exceptional bonus payable in shares for the CEO that can represent up to 60% of his fixed salary and based on "pre-determined and quantifiable" criteria, but they are not communicated. By adding the cash bonus (150% of the fix...

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 Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

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.

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