STMicro: net income down 14% in Q4
Its gross margin fell by two points year-on-year to 45.5%, on sales down 3.2% to 4.28 billion, with growth in ADG products (+21.5%) offset by declines in AMS (-25.8%) and MDG (-11.5%).
For the first quarter of 2024, at the mid-point, the Franco-Italian semiconductor manufacturer is targeting net sales of $3.6 billion, down 15.2% year-on-year, and a gross margin of around 42.3%.
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