Seeking Alpha

STMicroelectronics slips on Credit Suisse launch

  • Credit Suisse has started STMicroelectronics (STM -1%) at Underperform, and European chip peer Infineon (OTCPK:IFNNF +0.7%) at Outperform.
  • Bernstein downgraded STM to Underperform a month ago, predicting 2015 revenue growth will be 300 bps below consensus. Shares go for only 0.9x 2015E sales.
  • Infineon has rallied since announcing last week it's buying International Rectifier for $3B.
Comments (1)
  • defunkdreader
    , contributor
    Comments (89) | Send Message
    We've heard plenty about how they will miss guidance. Is guidance really priced in at 1x trailing sales? 1x is the lowest multiple in the industry by a good amount...
    27 Aug 2014, 01:00 PM Reply Like
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