Melexis NV
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| zNZ | LOCK|#@<T | LOCK|#g>>jHt |
Melexis Earnings: 2024 Results Provide a Buying Opportunity for Patient Investors
Melexis' fourth-quarter 2024 revenue was EUR 197.4 million, a 21% organic year-on-year decline and below management’s guided range of EUR 200 million-EUR 210 million. We are not surprised by this result given peers Infineon and ST Microelectronics also had weak automotive sales this quarter as the supply chain reduces excess inventories. Instead of giving full-year guidance, management guided for EUR 400 million in revenue in the first half of the year, followed by a significant improvement in the second half. The extent of this improvement is undetermined and will depend on automotive end-demand and inventory evolution.
