Share Name Share Symbol Market Type
ST Microelectronics EU:STM Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.42 -4.46% 30.44 30.43 30.44 31.95 30.44 31.84 4,939,934 16:40:00

STMicroelectronics Assumes EUR/USD at 1.18 in 2Q -- Currency Comment

29/04/2021 12:59pm

Dow Jones News

ST Microelectronics (EU:STM)
Historical Stock Chart

From Apr 2021 to Jun 2021

Click Here for more ST Microelectronics Charts.

By Mauro Orru


STMicroelectronics NV's guidance for the second quarter assumes the euro will average $1.18 against the dollar, a lower rate than its first-quarter assumption of $1.20 and weaker than the euro's current level.

The euro currently trades at $1.2130.

STMicroelectronics forecasts second-quarter net revenue of $2.9 billion at the midpoint, and a gross margin of about 39.5%.

"This outlook is based on an assumed effective currency exchange rate of approximately $1.18 = €1.00 for the 2021 second quarter and includes the impact of existing hedging contracts," the European chip maker said.

The company had factored in an exchange rate of approximately $1.20 at the end of January when it issued guidance for the first quarter.

The euro's closing level on March 31 was $1.1731, according to FactSet. It has risen since then, reaching a two-month high of 1.2151 earlier Thursday.


Write to Mauro Orru at; @MauroOrru94


(END) Dow Jones Newswires

April 29, 2021 07:44 ET (11:44 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

1 Year ST Microelectronics Chart

1 Year ST Microelectronics Chart

1 Month ST Microelectronics Chart

1 Month ST Microelectronics Chart
ADVFN Advertorial
Your Recent History
ST Microel..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210620 04:35:44