(Boursier.com) — STMicroelectronics returns 1.7% this Friday to 38.30 euros, after the announcement of the publication of its US GAAP financial results for the third quarter ended September 30, 2023. ST recorded a net turnover of 4.43 billion dollars, a gross margin of 47.6%, an operating margin of 28% and net income of $1.09 billion, or $1.16 per diluted share.
Over the first 9 months of the year, net sales were $13 billion, gross margin 48.7%, operating margin 27.6% and net income 3.14 billions of dollars.
The midpoint of the outlook for the fourth quarter calls for net sales of $4.30 billion and gross margin of 46%. Among the latest broker opinions, Barclays remains ‘overweight’ on the issue, but lowers its price target from 63 to 60 euros.
Jean-Marc Chéry, Chairman of the Management Board and CEO of ST, specified: “The midpoint of these prospects translates for the entire 2023 financial year into a turnover of approximately $17.3 billion. , representing growth of 7.3% year-on-year and a gross margin of approximately 48.1%.”
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