U Blox Holding rises after 9M sales beat

U Blox Holding AG

24/10/2022 08:23

** Shares of U Blox Holding  UBXN.S  are up 4.5% after
Switzerland-based semiconductor reported on Friday 9-month
revenue increase of 62% and confirmed its FY 2022
guidance urn:newsml:reuters.com:*:nTUC2M2XBC
    ** U Blox 9M 2022 revenues reach 475 million Swiss francs 
($475.86 million) as compared to same period of 2021
    ** U Blox says its on track to reach its FY 2022 guidance
 urn:newsml:reuters.com:*:nFWN2XM0D6 and added it's "confident that we will continue our
growth trajectory also in 2023" 
    ** Vontobel says the company recorded accelerated momentum
thanks to strong demand from Asia-Pacific region (APAC)
    ** Baader Helvea says the co will reach "the upper range of
the guidance since most likely, given this year’s development"
    ** Though on 2023 growth it says "we don’t expect u-blox to
grow to the same extent this year, we believe 15-20% is
achievable next year"
     ** Baader Helvea adds that it thinks the estimates will be
revised upwards, the latest with FY22E annual results, and would
expect a new guidance by then at the latest
    ** Including today's rise the stock has gained 68.37 % YTD.​
($1 = 0.9982 Swiss francs)
 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))