Melexis shares at mid-May 2020 lows as Q4 results miss expectations

Melexis NV

05/02/2025 08:24

** Shares of Belgian semiconductor firm Melexis  MLXS.BR  drop
about 13% to the bottom of Belgium's blue-chip index BEL20
 .BFX  after it reported results and guidance below expectations
    ** Melexis reports Q4 oper margin of 14.0% on sales of 197.4
mln euros  ($205.28 mln) vs a company-compiled consensus of
18.6% and 205.4 mln euros
    ** The shares, which touch their lowest price since mid-Mary
2020, are on track for their worst day since end-Oct 2018
    ** Degroof Petercam's Michael Roeg says the results and
outlook are well below expectations across the board
    ** Melexis sees H1 oper margin of about 16% on sales of
arounf 400 mln euros, both down y/y
    ** It keeps 2024 sales target of 1 billion euros, while
inventory corrections are continuing in 2025
    ** Roeg adds investors would be looking at the management's
confidence regarding the second half improvement during the
post-earnings call
    ** "We expect the market to look beyond near-term weakness
and should start pricing in the next upcycle," analysts at KBC
Securities add
     
    ($1 = 0.9616 euros)
     

(Reporting by Nathan Vifflin)
((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))