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STMicroelectronics N.V. reports news on its semiconductor products, manufacturing strategy, financial results, and shareholder matters. The company is an integrated device manufacturer with products spanning analog and mixed-signal chips, power and discrete devices, microcontrollers, digital ICs, RF products, MEMS, image sensors, and other sensing technologies for automotive, industrial, personal electronics, cloud infrastructure, and connected-device applications.
Recurring updates include STM32 microcontroller production and supply-chain localization, ST BrightSense and ST FlightSense sensing products, AI data center power-conversion architectures, robotics vision modules, strategic customer engagements, acquisitions that expand sensor capabilities, quarterly earnings, investor presentations, annual meeting resolutions, dividends, and share-repurchase authorizations.
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STMicroelectronics reported impressive Q1 2023 financial results, with net revenues of $4.25 billion, a 49.7% gross margin, and a net income of $1.04 billion or $1.10 diluted earnings per share. This reflects a 19.8% increase in revenues year-over-year and a substantial 39.8% boost in net income. The operating margin rose to 28.3%, up from 24.7% a year earlier. CEO Jean-Marc Chery noted that strong performances in the Automotive and Industrial sectors offset declines in Personal Electronics. Looking ahead, the Q2 outlook predicts revenues of $4.28 billion and a slight decrease in gross margin to 49.0%, indicating continued growth momentum in the semiconductor market.
STMicroelectronics has disclosed the status of its common share repurchase program, revealing the buyback of 240,473 ordinary shares from April 17 to April 21, 2023, totaling approximately EUR 10.75 million. The repurchase aligns with obligations from employee share option programs and is part of a broader strategy approved in May 2021. The shares were acquired at a weighted average price of EUR 44.7033 each, representing 0.03% of the company's issued share capital. Post-buyback, STMicroelectronics holds a total of 9,880,203 treasury shares, equating to around 1.1% of its issued capital. This action aims to enhance shareholder value while addressing equity compensation needs.
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STMicroelectronics announced a share repurchase program, disclosing transactions from April 11 to April 14, 2023. During this period, the company bought back 191,375 ordinary shares, representing 0.02% of its issued share capital, at a total cost of approximately EUR 8.85 million and a weighted average price of EUR 46.22 per share.
The repurchase is part of an ongoing program approved by shareholders to fulfill obligations related to employee share option programs. Currently, STMicroelectronics holds 9,639,730 treasury shares, which is around 1.1% of its issued capital.
ZF has signed a multi-year supply agreement with STMicroelectronics (NYSE: STM) for silicon carbide devices, enhancing its electromobility capabilities.
Under this contract, ST will supply double-digit millions of silicon carbide devices starting in 2025, which will be integrated into ZF's new modular inverter platform.
This partnership supports ZF's order book exceeding €30 billion in electromobility through to 2030, leveraging ST's manufacturing capabilities in Europe and Asia.
STMicroelectronics emphasizes its commitment to expand silicon carbide capacity to meet the electrification and decarbonization targets across automotive and industrial sectors.
STMicroelectronics has reported on its common share repurchase program, detailing transactions from April 3 to April 6, 2023. During this period, the company repurchased 197,842 ordinary shares, representing 0.02% of its issued share capital, at a weighted average price of EUR 47.41, totaling approximately EUR 9.38 million. The repurchase aims to fulfill obligations from share option programs for employees and management. STMicroelectronics now holds a total of 9,448,355 treasury shares, accounting for around 1.0% of its issued capital. The transactions were executed on the regulated market of Euronext Paris.
STMicroelectronics (NYSE: STM) announced the timing for its first quarter 2023 earnings release and conference call, set for April 27, 2023. The earnings report will be available before European stock markets open, with a conference call scheduled for 9:30 a.m. CET / 3:30 a.m. ET to discuss the results and business outlook.
The webcast will be accessible via ST's website, and a replay will be available until May 12, 2023. This event is significant for investors tracking STMicroelectronics’ performance and future direction.
STMicroelectronics announces updates on its common share repurchase program, active from March 27 to March 29, 2023. The company acquired 84,751 ordinary shares, which is 0.01% of its issued share capital, at a total cost of EUR 3,898,111.60 and an average price of EUR 45.9949 per share. The program aims to fulfill obligations related to employee share options and may also be utilized for other legal purposes. Post-repurchase, STMicroelectronics retains 9,315,989 treasury shares, approximately 1.0% of its capital.