Microchip Technology forecasts quarterly results below estimates on weak automotive demand [Yahoo! Finance]
STMicroelectronics N.V. (STM)
Last stmicroelectronics n.v. earnings: 4/22 01:00 am
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Source: Yahoo! Finance
demand from automotive customers amid economic uncertainty, sending its shares down about 4% in extended trading. Chipmakers that get orders from automotive and industrial customers have been struggling as these customers are clearing excess inventory, which they had built during the pandemic to avoid a supply crunch. CEO Ganesh Moorthy said the September quarter results of the company were consistent with its forecast as the customers continue to clear inventory amid a weak economy, which is intensified by its European industrial and automotive customers. "While substantial inventory destocking has occurred, we continue to face macro uncertainties in what is historically our seasonally weakest quarter," Moorthy said. Microchip's products include mixed-signal microcontrollers, which combine both analog and digital components on a single chip to better handle continuous signals, such as temperature and binary signals, for data analysis and communication tasks. "Management not
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News
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STM
Earnings
- 10/31/24 - Beat
STM
Sec Filings
- 11/20/24 - Form 6-K
- 11/18/24 - Form 6-K
- 11/12/24 - Form 6-K
- STM's page on the SEC website