STMicroelectronics N.V. - STM STOCK NEWS

STMicroelectronics has entered a five-year collaboration with Politecnico di Milano to establish a joint research center focused on advanced materials for sensors. This initiative aims to enhance research and development in MEMS technology, supporting the training of doctoral students and researchers. The collaboration includes upgrading infrastructure with a new 200mm pilot line and aims to create a world-class innovation district in Milan. With over 15 billion MEMS sold, STMicroelectronics aims to drive research in advanced MEMS and related technologies.

STMicroelectronics announced a leadership change as Benedetto Vigna, President of the Analog, MEMS, and Sensors Group, will step down on August 31, 2021 to take on the role of CEO at another company. Jean-Marc Chery, ST's President & CEO, praised Vigna's contributions over his 26-year career, highlighting his role in establishing ST's leadership in MEMS sensors and other technologies. The company aims to ensure a smooth transition during the upcoming weeks.

STMicroelectronics has reported the results of its recently completed common share repurchase program for the period from May 31, 2021 to June 04, 2021. During this timeframe, the company repurchased a total of 338,000 ordinary shares, representing 0.04% of its issued share capital. The shares were purchased at an average price of EUR 30.4312, totaling approximately EUR 10.29 million. Following these transactions, STMicroelectronics now holds 12,119,303 treasury shares, equating to about 1.5% of its issued capital.

STMicroelectronics has partnered with Metalenz to advance optical sensing technology across various sectors, including consumer electronics, automotive, and healthcare. This collaboration includes the development of manufacturing processes for meta-surface optics, which are poised to enhance the performance and efficiency of optical systems. The innovative flat-lens technology promises benefits such as reduced size, lower power consumption, and cost-effectiveness. ST aims to integrate this revolutionary technology into its existing operations by the end of the year, leveraging its expertise in NIR optical sensing.

STMicroelectronics has detailed its common share repurchase program from May 24 to May 28, 2021. During this period, the company repurchased a total of 477,778 shares, representing 0.05% of its issued share capital, for an overall cost of EUR 14,405,437.85 at an average price of EUR 30.1509 per share. Following these transactions, STMicroelectronics holds 13,269,846 treasury shares, approximately 1.5% of issued capital. This program aims to enhance shareholder value and reflects confidence in the company's financial health.

STMicroelectronics (NYSE: STM) held its 2021 Annual General Meeting on May 27, 2021, in Schiphol, Netherlands. Key resolutions approved include the adoption of statutory annual accounts for 2020 and a cash dividend of US$ 0.24 per share, to be paid quarterly. The meeting also reappointed Jean-Marc Chery to the Managing Board and Nicolas Dufourcq to the Supervisory Board, both for three-year terms. Additionally, an amended remuneration policy for the Managing Board was adopted, and a new 3-year Unvested Stock Award Plan was established for management.

Magic Information has introduced a smart-lock reference design utilizing STMicroelectronics' STM32WB55 Bluetooth microcontroller. This design features advanced AIoT fingerprint recognition, enabling quick unlocks in 0.3 seconds with low power consumption. The solution addresses key challenges in the smart-lock industry, including size and interoperability. With BLE 5.2 technology, it promises robust security for critical markets like access control and medical devices. Magic Information also offers a platform for developing innovative applications.

STMicroelectronics disclosed details of its common share repurchase program, originally approved on May 31, 2018. During the period from May 17 to May 21, 2021, the company repurchased 505,232 shares, representing 0.06% of its issued share capital. The total expenditure for these transactions was approximately EUR 14.76 million with an average purchase price of EUR 29.2107 per share. These activities aim to enhance shareholder value.

STMicroelectronics announced the acquisition of Cartesiam, a French software company specializing in edge AI development tools. This strategic move aims to bolster STMicroelectronics' AI capabilities by integrating Cartesiam's NanoEdge™ AI Studio technology into its existing STM32Cube.AI toolset. This acquisition is expected to enhance STMicroelectronics' offerings for embedded machine-learning solutions. The transaction terms remain undisclosed, and closing is subject to regulatory approvals.