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STMicroelectronics N.V. (STM) is a global leader in the semiconductor industry, designing and manufacturing a broad range of products for a variety of applications. Formed in 1987 through a merger between Italy's SGS Microelettronica and France's Thomson Semiconductors, the company has become a key supplier of analog chips, microcontrollers, sensors, and discrete power semiconductors, especially for industrial and automotive markets.
With more than 50,000 employees and a network of over 200,000 customers, STMicroelectronics has a strong global presence, characterized by state-of-the-art manufacturing facilities. The company is committed to driving innovation in electronics applications—from smarter mobility and efficient power management to cloud-connected autonomous systems.
In recent developments, STMicroelectronics has made significant strides towards sustainability, aiming for carbon neutrality on scopes 1 and 2, and partially on scope 3 by 2027. The company has entered into various partnerships and agreements to support this goal. Notably, STMicroelectronics signed a ten-year Power Purchase Agreement (PPA) with Centrica Energy for renewable energy in Italy, and expanded a silicon carbide (SiC) substrate wafer supply agreement with SiCrystal.
In the automotive sector, STMicroelectronics collaborates with Panasonic and Geely Auto Group on innovative projects. Panasonic has integrated STMicroelectronics' STM32F3 MCU and edge AI tools into their e-assisted bike, while Geely uses ST’s third-generation SiC MOSFETs in their electric vehicles to enhance performance and efficiency.
On the financial front, STMicroelectronics reported $3.47 billion in net revenues for Q1 2024. Despite a year-over-year decrease of 18.4%, the company continues to invest in future growth, as evidenced by their plans for a high-volume 200mm SiC manufacturing facility in Catania, Italy. This new facility, part of a larger Silicon Carbide Campus, is expected to commence production in 2026, supporting the company's leadership in SiC technology for automotive and industrial applications.
With a focus on R&D and substantial investments in sustainable energy and innovative technologies, STMicroelectronics remains a significant player in the semiconductor industry, driving advancements that support a more connected and environmentally friendly world.
STMicroelectronics has partnered with Feig Electronic to develop an innovative contactless solution aimed at enhancing logistics processes. This technology utilizes NFC and allows for efficient personalization of palletized goods within a 1m x 1m x 1m readable area, significantly improving supply chain flexibility. By employing ST25DV dynamic tags, the system eliminates the need for manual programming, thereby reducing costs and time in product setup. This collaboration is designed to improve productivity in sectors such as smart manufacturing and medical devices.
STMicroelectronics has announced a new share buy-back program of up to $1,040 million over three years, pending shareholder and regulatory approvals. This initiative aims to buy back approximately 28.6 million shares, equating to about 3.1% of its issued capital, based on a closing price of $36.38 on the NYSE. Shares will be purchased to support employee stock plans and settle outstanding convertible bonds. The program's execution will depend on market conditions and regulatory compliance.
STMicroelectronics has partnered with Eyeris to enhance in-cabin monitoring systems in vehicles using advanced sensor technology. This collaboration combines ST's 2.3 Megapixel VG5761 Global-Shutter sensor with Eyeris' AI-driven Deep Neural Networks to improve safety features such as Driver Monitoring and Occupant Monitoring Systems. The sensor operates effectively in diverse lighting conditions and can accurately track driver behavior and passenger positions. This initiative aims to bolster automotive safety and comfort, showcasing ST's commitment to innovation in e-mobility.
On June 28, 2021, Orange, Sierra Wireless, LACROIX, and STMicroelectronics announced the launch of IoT Continuum, a partnership designed to streamline the deployment of IoT solutions across various industrial sectors. The initiative aims to enhance the mass adoption of cellular IoT technologies while providing significant CAPEX savings for customers in sectors like Smart Buildings, Automotive, and Health. The partners will offer pre-integrated solutions and comprehensive support to mitigate project risks and lower costs for businesses pursuing IoT implementation.
STMicroelectronics announced the status of its common share repurchase program for the period from June 21 to June 25, 2021. During this time, the company repurchased 17,613 ordinary shares, representing 0.002% of its issued share capital, at a weighted average price of EUR 30.3218, totaling EUR 534,057.33. Following these transactions, STMicroelectronics now holds 7,992,829 treasury shares, which is approximately 0.9% of its issued share capital. This buyback aligns with the company's strategy to enhance shareholder value.
Renault Group and STMicroelectronics have announced a strategic partnership focused on developing and supplying advanced power semiconductors for electric and hybrid vehicles, set to begin production in 2026. This partnership aims to enhance the efficiency of Renault's vehicles, reducing power losses and battery costs while improving charging times and range. The collaboration leverages STMicroelectronics' technology, aiming for a 45% reduction in wasted energy and a 30% decrease in e-powertrain costs. Both companies are committed to sustainable mobility, targeting carbon neutrality in Europe by 2040.
STMicroelectronics has announced a collaboration with Arrival to supply cutting-edge semiconductor technologies for their next-generation electric vehicles (EVs). This partnership will enhance Arrival's entire vehicle lineup, including vans, buses, and a new car, utilizing ST's automotive microcontrollers and battery management systems. Arrival aims to deliver future-proof zero-emission vehicles while benefiting from a decentralized production model through its Microfactories. This collaboration exemplifies ST's commitment to supporting the electrification of mobility.
STMicroelectronics has partnered with Tower Semiconductor to accelerate the ramp-up of its Agrate R3 300mm fab in Italy. The collaboration aims to optimize utilization and reduce wafer costs, with Tower installing equipment in one-third of the cleanroom space. The fab is set for equipment installation by the end of 2021, and production is expected to commence in the second half of 2022. This partnership will enhance production capabilities for automotive and industrial applications, potentially increasing the fab's capacity beyond initial estimates.
STMicroelectronics has successfully completed its $750 million share buy-back program initiated on November 5, 2018. Over 2.6 years, the company repurchased 31,261,581 shares at an average price of €20.5362, totaling approximately €641.99 million. As of June 21, 2021, STMicroelectronics holds about 8 million treasury shares, representing 0.9% of its issued capital of 911,204,420 shares. This buy-back was conducted under the authorization of the Supervisory Board and aligns with the European Market Abuse Regulation.
STMicroelectronics announces its innovative secure solution for authenticating Qi-certified wireless chargers, enhancing market safety. The STSAFE secure elements ensure genuine charger authentication with EAL5+ certification, crucial for protecting users' devices. This technology supports both consumer and automotive applications, enabling advancements in a variety of products from smartphones to automotive chargers. The STSAFE-A110 and STSAFE-V110 chips are tailored for these markets, simplifying integration for manufacturers and enhancing trust in charging technologies.
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