Financial Data and Key Metrics - Q3 net revenues were $3.25 billion, in line with the midpoint of the business outlook range [10] - Q3 gross margin was 37.8%, broadly in line with guidance [11] - Q3 net revenues decreased 26.6% year-over-year, driven by declines in Industrial and Automotive segments [11] - Operating margin decreased to 11.7% from 28% year-over-year, and net income was $351 million [11] - For the 9-month period, net revenues were down 23.5% year-over-year to $9.95 billion [12] - Q4 2024 revenue guidance is $3.32 billion at the midpoint, representing a 22.4% year-over-year decline [13] - Full-year 2024 revenue is expected to be $13.27 billion, a 23.2% decrease year-over-year [14] Business Line Performance - Analog products, MEMS, and Sensors revenue decreased 13.3% year-over-year, driven by declines in imaging and analog products [16] - Power and Discrete products revenue decreased 18.4%, with declines in both Power and Discrete segments [16] - Microcontrollers revenue declined 43.4%, mainly due to General Purpose microcontrollers [16] - Digital ICs and RF products declined 29.7%, primarily due to ADAS and Infotainment [17] Market Performance - Industrial market declined by more than 50% year-over-year, Automotive by about 18%, Personal Electronics by about 9%, and Communication Equipment and Computer Peripherals by about 5% [17] - Sequentially, Industrial was down 12%, Automotive was flat, Personal Electronics increased 20%, and Communication Equipment and Computer Peripherals decreased 8% [18] Strategic Direction and Industry Competition - The company is launching a new program to reshape its manufacturing footprint, accelerating the transition to 300mm silicon and 200mm silicon carbide [15] - The company expects annual cost savings in the high triple-digit million-dollar range by 2027 [36] - The company is focusing on innovation and strategic manufacturing initiatives to adapt to market dynamics [37] Management Commentary on Operating Environment and Future Outlook - The company anticipates a revenue decline between Q4 2024 and Q1 2025, well above normal seasonality [14] - Management highlighted challenges in the Automotive and Industrial markets but remains optimistic about long-term growth opportunities [36] - The company is adapting its operating plans to the current market cycle and investing in innovation [37] Other Important Information - Inventory at the end of Q3 was $2.88 billion, with days sales of inventory at 130 days [20] - The company paid $80 million in cash dividends and executed a $92 million share buyback in Q3 [21] - The company's net financial position was $3.18 billion as of September 28, 2024 [21] Q&A Session Summary Question: Drivers of Q1 revenue decline and pricing environment [39] - The decline is driven by customer backlog and order dynamics, not pricing [40] - Pricing pressure is expected to be mid-single digit decline in 2025, slightly higher than 2024 [42] Question: Microcontroller inventory correction [43] - Inventory correction is lasting longer than expected, with normalization expected in H2 2025 [47] Question: Automotive market slowdown [48] - The slowdown is due to a shift from full battery electric to hybrid vehicles and downsized production by carmakers [49] - Inventory correction is ongoing in the automotive supply chain [51] Question: R&D spending and silicon carbide strategy [59] - R&D spending was lower due to one-time items and better expense control, but the company continues to invest in silicon carbide [61][62] Question: AI server wins [64] - The company is addressing all three main blocks of AI server power semis architecture, with a focus on power supply units and voltage handling [66][67] Question: Q1 gross margin outlook [69] - Q1 gross margin is expected to be impacted by unused capacity charges and inventory control measures [71] Question: Restructuring program and M&A [74][75] - The restructuring program is expected to result in high triple-digit million-dollar savings by 2027 [74] - The company is actively looking at bolt-on acquisitions as part of its organic growth strategy [76] Question: Silicon carbide targets [84] - The company expects silicon carbide revenue to be $1.15-$1.2 billion in 2024, with a long-term target of over $5 billion by 2030 [85][86] Question: CapEx implications of 300mm transition [92] - The company plans to reduce CapEx in the coming years as it transitions to 300mm wafer production [93][94]

STMicroelectronics (STM) is scheduled to report its third-quarter 2024 results on Oct. 31.For the third quarter, the company expects net revenues of $3.25 billion at the midpoint. The Zacks Consensus Estimate for revenues is pegged at $3.22 billion, implying a 27.3% year-over-year decline.The consensus mark for earnings has remained unchanged over the past 60 days at 33 cents per share, indicating a decline of 71.6% from the year-ago reported figure.STM surpassed the Zacks Consensus Estimate in three of the ...

Core Insights - STMicroelectronics has launched a new biosensing chip, the ST1VAFE3BX, designed for next-generation healthcare wearables, integrating cardio and neurological sensing with motion tracking and AI capabilities [1][2] - The chip aims to enhance individual health awareness and fitness by providing advanced monitoring features in a compact form factor [2] - The ST1VAFE3BX is currently in production and available for orders, with a demonstration scheduled at Electronica 2024 [4][5] Product Features - The ST1VAFE3BX combines high-accuracy biopotential input with inertial sensing and an AI core for activity detection, optimizing performance and power consumption [1][8] - It supports a variety of biopotential measurements, including ECG and EEG, with a maximum output data rate of 3200Hz and a typical operating current of just 50µA [9][10] - The device features a low-noise accelerometer with a programmable full-scale range, enabling advanced functions like step counting and activity detection [10] Market Opportunities - Analysts at Yole Development highlight the potential for wearable monitors to expand beyond general wellness into consumer healthcare devices approved for over-the-counter use [2] - The integration of the ST1VAFE3BX allows manufacturers to develop new products that are affordable and user-friendly, enhancing healthcare and fitness monitoring [6] - Companies like BM Innovations and Pison are leveraging the new biosensor for innovative product development in athlete performance monitoring and cognitive health [3][4] Technical Advancements - The chip includes a complete vertical analog front end (vAFE) that simplifies vital sign detection, addressing challenges like skin preparation and electrode positioning [5] - The machine-learning core and finite state machine enable on-chip decision-making, reducing the load on the main CPU and improving battery life [8] - STMicroelectronics provides software tools to maximize the performance of the ST1VAFE3BX, facilitating the implementation of advanced features [8]

LOS ANGELES, Oct. 18, 2024 /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against STMicroelectronics N.V. ("ST" or "the Company") (NYSE: STM) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Shareholders who purchased shares of STM during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead pla ...

SAN DIEGO, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of STMicroelectronics N.V. (NYSE: STM) securities between January 25, 2024 and July 24, 2024, inclusive (the "Class Period"), have until Tuesday, October 22, 2024 to seek appointment as lead plaintiff of the STMicroelectronics class action lawsuit. Captioned Wang v. STMicroelectronics N.V., No. 24- cv-06370 (S.D.N.Y.), the STMicroelectronics class action lawsuit charges STMicroelectronics and ...

Core Points - STMicroelectronics disclosed a downward revision of its full-year revenue and margin projections for 2024, now expecting total revenue to be between $13.2 billion and $13.7 billion, down from a previous forecast of $14 billion to $15 billion [1] - The company had initially projected 2024 revenues to range between $15.9 billion and $16.9 billion during its fourth-quarter 2023 earnings call [1] - For the second quarter of 2024, STMicroelectronics reported a revenue decline of 25.3% year-over-year, totaling $3.23 billion [1] - Net sales to Original Equipment Manufacturers (OEMs) and through Distribution channels decreased by 14.9% and 43.7% year-over-year, respectively [1] - Following the announcement, STMicroelectronics' stock dropped over 13% during pre-market trading on July 25, 2024 [1] Shareholder Information - Shareholders who purchased shares of STMicroelectronics during the class period from January 25, 2024, to July 24, 2024, are encouraged to contact the Gross Law Firm regarding possible lead plaintiff appointment [1][2] - The deadline for shareholders to register for the class action is October 22, 2024, and there is no cost or obligation to participate [2]

NEW YORK, Oct. 11, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of STMicroelectronics N.V. (NYSE: STM) between January 25, 2024 and July 24, 2024, both dates inclusive (the "Class Period"), of the important October 22, 2024 lead plaintiff deadline. SO WHAT: If you purchased STMicroelectronics securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee a ...

Core Insights - STMicroelectronics disclosed a downward revision of its full-year revenue and margin projections for 2024, now expecting total revenue to be between $13.2 billion and $13.7 billion, down from a previous forecast of $14 billion to $15 billion [1] - The company had initially projected revenues for 2024 to range between $15.9 billion and $16.9 billion during its fourth-quarter 2023 earnings call [1] - For the second quarter of 2024, STMicroelectronics reported a revenue decline of 25.3% year-over-year, totaling $3.23 billion [1] - Net sales to Original Equipment Manufacturers (OEMs) and through Distribution channels decreased by 14.9% and 43.7% year-over-year, respectively [1] - Following the announcement, STMicroelectronics' stock dropped over 13% in pre-market trading on July 25, 2024 [1] Shareholder Information - Shareholders who purchased shares of STMicroelectronics during the class period from January 25, 2024, to July 24, 2024, are encouraged to contact the Gross Law Firm regarding possible lead plaintiff appointment [1][2] - The deadline for shareholders to register for the class action is October 22, 2024, and there is no cost or obligation to participate [2]

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Oct. 08, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises STMicroelectronics N.V. ("STM" or the "Company") (NYSE:STM) investors of a class action representing investors that bought securities between January 25, 2024 and July 24, 2024, inclusive (the "Class Period"). STM investors have until October 22, 2024 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portno ...

Core Insights - STMicroelectronics disclosed a downward revision of its full-year revenue and margin projections for 2024, now expecting total revenue to be between $13.2 billion and $13.7 billion, down from a previous forecast of $14 billion to $15 billion [1] - The company had initially projected revenues for 2024 to range between $15.9 billion and $16.9 billion during its fourth-quarter 2023 earnings call [1] - For the second quarter of 2024, STMicroelectronics reported a revenue decline of 25.3% year-over-year, totaling $3.23 billion [1] - Net sales to Original Equipment Manufacturers (OEMs) and through Distribution channels decreased by 14.9% and 43.7% year-over-year, respectively [1] - Following the announcement, STMicroelectronics' stock dropped over 13% in pre-market trading on July 25, 2024 [1] Shareholder Information - Shareholders who purchased shares of STMicroelectronics during the class period from January 25, 2024, to July 24, 2024, are encouraged to contact the Gross Law Firm regarding possible lead plaintiff appointment [1][2] - The deadline for shareholders to seek lead plaintiff status is October 22, 2024 [2] - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive status updates throughout the lifecycle of the case [2]