ST Micro: market wooed by CMD
(CercleFinance.com) - Jumping over 5% today, the ST Microelectronics share is in pole position in the CAC 40.
At its capital markets day organised in London, the semiconductor group announced pretty upbeat medium-term forecasts.
After 2018 sales of 9.66 billion dollars, the group targets between 9.45 billion and 9.85 billion dollars in 2019, group CFO Lorenzo Grandi said in his presentation.
ST Micro has also announced medium-term forecasts (without more specification), including sales of 12 billion dollars, an operating margin of 17% to 18% (against 14.5% in 2018) and net income of 1.7 billion dollars to 1.9 billion dollars (against 1.29 billion dollars in 2018).
The group's gross margin, which reached 40% in 2018, is expected to reach 39% in 2019 and should be between 40% and 41% over the medium term, the group predicts.
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