Melexis rises on 'slightly higher' EBIT-margin guidance, Q3 sales beat

Melexis NV

25/10/2023 08:24

** Shares in Melexis  MLXS.BR  rise 5.3% after the Belgian
chipmaker beat Q3 sales expectations and slightly upgraded its
FY 2023 operating margin guidance
    ** KBC Securities says that despite geopolitical challenges
and softer EV (electric vehicles) demand, Melexis continued its
growth path 
    ** It says Q3 sales at 248.6 million euros came in above its
estimates of 247.4 million and 248.3 million euros consensus
estimates
    ** KBC says it will update its FY profitability forecasts,
as it says the company's 2023 EBIT-margin guidance is now
"slightly higher"
    ** Previously Melexis expected operating margin of around
27%
    ** Stock on top of Belgium's BEL 20 Index  .BFX  

 (Reporting by Marianna Ciabach-Malinowska)
 ((Marianna.ciabach@tr.com))