Chipmaker Melexis jumps on higher 2023 guidance

Melexis NV

01/02/2023 08:24

** Melexis  MLXS.BR  shares rise around 3% after the Belgian
chipmaker gave an upbeat 2023 guidance on the back of solid
underlying trends and new opportunities 
    ** Melexis expects Q1 sales of 225-230 million euros
($244.71-$250.15 million) and a sales increase of 11%-16% for
FY, with a gross profit margin of around 45% - a result broadly
in line with KBC Securities estimates
    ** "Underlying trends will continue to generate new
opportunities that will contribute to its growth," KBC
Securities says
    ** The broker notes Melexis' accelerated investment in R&D
and the expansion of its facility in Malaysia should bolster
long-term demand for its semiconductors
    ** "We believe that on balance Melexis reported a good
update," ING says, adding the FY revenue guidance at mid-point
if about 5 percentage points above consensus
    ** "The mix of higher top-line with higher costs is still
positive and we expect FY23 EBIT to move up by a low-to-mid
single digit percentage" - ING
($1 = 0.9195 euros)
 (Reporting by Dagmarah Mackos)
 ((dagmarah.mackos@thomsonreuters.com))