FMP
Jul 25, 2024 1:05 PM - Davit Kirakosyan
Shares of STMicroelectronics (NYSE:STM) plummeted more than 12% in pre-market today after the semiconductor firm revised its full-year outlook, now projecting revenues between $13.2 billion and $13.7 billion with an approximate gross margin of 40%.
The company reported net revenues of $3.23 billion for the quarter, a 25.3% year-over-year decline. While the gross margin matched forecasts at 40.1%, the operating margin fell sharply to 11.6% due to lower sales and higher operating expenses.
Jean-Marc Chery, STMicroelectronics' President and CEO, noted that contrary to previous expectations, customer orders in the Industrial sector did not improve, and Automotive demand decreased. The drop in gross margins was attributed to shifts in product mix, price declines, and higher unused capacity charges.
Net income for Q2 fell to $353 million from $1 billion in the same quarter last year, and free cash flow declined to $159 million from $209 million year-over-year. Despite these challenges, the company announced a new $1.1 billion share buyback program.
Jan 16, 2024 4:18 PM - Samuel Abdelshahid
In the hustle and bustle of the trading world, having a trustworthy laptop is like having a reliable partner by your side. Making well-informed decisions and staying ahead of market trends become second nature with the right device. However, the quest for a budget-friendly trading laptop t...
Jan 21, 2024 4:00 AM - Parth Sanghvi
Introduction: In the world of financial analysis, a profound grasp of essential profitability metrics is vital. This blog delves into three pivotal metrics—ROE (Return on Equity), ROA (Return on Assets), and Net Profit Margin—offering clear insights without unnecessary complexity. Exploring RO...
May 14, 2024 11:41 AM - Sanzhi Kobzhan
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...