STMicroelectronics N.V. - STM STOCK NEWS

STMicroelectronics (NYSE: STM) held its 2022 Annual General Meeting in Amsterdam on May 25, 2022, where several resolutions were approved. Key decisions included adopting the company's statutory annual accounts for 2021 prepared under IFRS, approving a quarterly cash dividend of $0.24 per share, and reappointing board members. Share repurchase and new share issuance authorizations were also granted. The detailed agenda and minutes will be available on the company's website, enhancing transparency for shareholders.

STMicroelectronics has reported its recent share repurchase activities, acquiring 275,446 ordinary shares from May 16 to May 20, 2022, totaling EUR 10,341,355.59 at an average price of EUR 37.5440 per share. This buyback represents approximately 0.03% of its issued share capital, increasing its treasury stock to 8,319,382 shares, or 0.9% of total issued capital. The program, initiated in July 2021, aims to enhance shareholder value and reflects the company's commitment to returning capital to investors.

STMicroelectronics has partnered with SP Group to establish Singapore's largest district cooling system at ST AMK TechnoPark, valued at 370 million USD over 20 years. This system, with a cooling capacity of up to 36,000 refrigerant tons, aims to achieve 20% savings in cooling-related electricity consumption and reduce carbon emissions by 120,000 tons annually. Scheduled to operate by 2025, this initiative marks ST's first district cooling deployment globally, supporting the company's goal to become carbon neutral by 2027.

STMicroelectronics has disclosed its common share repurchase program, detailing transactions from May 9 to May 13, 2022. During this period, the company repurchased 251,603 ordinary shares, representing 0.03% of its issued share capital, at a weighted average price of EUR 34.9327, totaling EUR 8,789,166.36. Following these transactions, STMicroelectronics holds 8,043,936 treasury shares, or approximately 0.9% of its issued capital. This buyback is part of an ongoing effort to enhance shareholder value.

STMicroelectronics (NYSE: STM) and MACOM have successfully produced RF Gallium-Nitride-on-Silicon (GaN-on-Si) prototypes, reaching significant cost and performance targets. These prototypes are poised to compete with established RF technologies, moving to qualification and industrialization stages in 2022. The collaboration aims to expedite the delivery of advanced RF GaN-on-Si products, essential for 5G and future infrastructure. Both companies acknowledged the potential advantages of GaN-on-Si in high-volume applications, as it offers competitive performance and cost-efficiency.

MACOM Technology Solutions (NASDAQ: MTSI) and STMicroelectronics (NYSE: STM) announced the successful production of RF GaN-on-Silicon prototypes, meeting cost and performance targets. The collaboration aims to advance this technology for 5G and 6G infrastructure. With prototypes moving towards qualification and industrialization, both companies are optimistic about market opportunities, particularly in Wireless Infrastructure. This partnership emphasizes the potential of GaN-on-Si technology to challenge existing RF power technologies.

STMicroelectronics announced its ambition to exceed $20 billion in revenue by 2025-27 during its Capital Markets Day held on May 12, 2022. The strategy focuses on sectors such as Smart Mobility, Power and Energy Management, and IoT & Connectivity. For FY 2022, expected revenues range from $14.8B to $15.3B with a target gross margin of approximately 46%. The company's growth will be supported by its robust Integrated Device Manufacturer model and established customer relationships.

STMicroelectronics (NYSE: STM) announced a collaboration with Microsoft to enhance the security of IoT applications. The partnership integrates the Microsoft Azure IoT cloud with STM32U5 microcontrollers and STSAFE-A110 secure elements. This solution combines Azure RTOS and IoT Middleware with Arm Trusted Firmware for improved security and power efficiency. Targeting developers under pressure to meet security standards, the joint effort aims to deliver trusted and efficient connected solutions. The STM32U5 microcontrollers boast certifications such as PSA Level-3 and an EEMBC SecureMark-TLS score of 133,000.

STMicroelectronics (NYSE: STM) has partnered with AWS to enhance secure Internet of Things (IoT) connections to the AWS cloud. This collaboration introduces an AWS FreeRTOS-qualified reference implementation, integrating ST’s STM32U5 microcontrollers and STSAFE-A110 secure element with Arm's TF-M firmware. The solution simplifies the connection of resource-constrained devices to AWS IoT Core, ensuring robust security against cyber threats. ST's advanced MCUs boast features like energy-saving modes and high-level security certifications, aiming to streamline IoT development and compliance with security guidelines.