STMicroelectronics N.V. - STM STOCK NEWS

STMicroelectronics (NYSE: STM) reported strong Q2 2022 financial results, with net revenues of $3.84 billion, a gross margin of 47.4%, and net income of $867 million.

Year-over-year, revenues rose by 28.3%, and net income doubled. For H1 2022, revenues totaled $7.38 billion with a gross margin of 47.1%. The Q3 outlook predicts further growth, with expected revenues of $4.24 billion, up 32.6% year-over-year. Full-year revenue guidance is projected between $15.9 billion and $16.2 billion.

STMicroelectronics has reported significant details regarding its common share repurchase program that ran from July 18 to July 22, 2022. During this period, the company repurchased 194,835 shares, which is 0.02% of its issued capital, for a total of EUR 6,472,890.30 at an average price of EUR 33.2224 per share. Post-repurchase, STMicroelectronics holds a total of 4,412,395 treasury shares, representing around 0.5% of its issued capital. This reflects the company's commitment to enhancing shareholder value.

Volkswagen’s CARIAD and STMicroelectronics are collaborating to co-develop an automotive system-on-chip (SoC) aimed at enhancing software-defined vehicles. This innovative partnership marks the first direct involvement of CARIAD with Tier 2 and Tier 3 semiconductor suppliers, including TSMC, which will manufacture SoC wafers. The new SoC is designed to be integrated into all electronic control units, boosting efficiency and standardizing operations across the Volkswagen Group's vehicles. The initiative is pivotal for future-proofing their supply chain and optimizing vehicle performance.

STMicroelectronics has announced the details of its common share repurchase program conducted from July 11 to July 15, 2022. During this period, the company repurchased a total of 210,462 ordinary shares, representing 0.02% of its issued share capital, for an overall cost of EUR 6,568,407.90 at a weighted average price of EUR 31.2095 per share. Following these transactions, STMicroelectronics now holds 4,217,560 treasury shares, accounting for approximately 0.5% of its issued share capital.

STMicroelectronics hosted French President Emmanuel Macron for the launch of the "Electronique 2030" Program at its Crolles site. This initiative is part of a five-year strategic program supporting R&D and the industrial deployment of microelectronics, contributing to the European Microelectronics and Communications Technologies (IPCEI ME/CT). The program aims to enhance France's position in the semiconductor industry, supporting advancements in energy-efficient technologies and applications for the Internet of Things and smart mobility.

STMicroelectronics disclosed the status of its common share repurchase program during the period from July 4 to July 8, 2022. The company repurchased 338,379 ordinary shares, amounting to 0.04% of its issued share capital, at a weighted average price of EUR 29.1601, totaling EUR 9,867,162.18. Following these transactions, STMicroelectronics now holds 4,007,098 treasury shares, representing approximately 0.4% of its issued share capital. This buyback is part of their strategy to enhance shareholder value.

STMicroelectronics and GlobalFoundries have announced plans to establish a new 300mm semiconductor manufacturing facility in Crolles, France, aimed at meeting the increasing demand for semiconductor technologies in Europe and globally. This joint facility is set to produce up to 620,000 wafers per year, with a focus on FD-SOI technologies. The project involves a multi-billion euro investment, with significant support from the French government. The facility aims to bolster Europe’s semiconductor production capacity and enhance supply chain security, contributing to the European Chips Act.

STMicroelectronics has launched its new FlightSense™ Time-of-Flight (ToF) multi-zone sensor, designed for applications in gesture recognition, intruder alert, and human presence detection, specifically for the PC market. This cost-effective, non-vision-based solution continuously scans its environment to enhance user interaction and security while preserving privacy. The sensor is currently being integrated into select Lenovo PCs and offers advanced features like wake-on-approach and automatic walk-away lock. In volume production, it supports Windows 11 and comes with proprietary algorithms for optimized performance.

STMicroelectronics has announced the timing for its Second Quarter 2022 Earnings Release, scheduled for July 28, 2022, before European stock exchanges open. Following the earnings release, a conference call will take place at 9:30 a.m. CET, providing insights into financial results and business outlook. The live webcast will be available on the company's website, with a replay accessible until August 12, 2022. This event is crucial for investors seeking updates on STMicroelectronics’ performance and future direction.