STMicroelectronics maintains 2030 targets
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FILE PHOTO: The logo of electronics and semiconductors manufacturer STMIcroelectronics is seen outside a company building in Montrouge, near Paris, France, July 12, 2022. REUTERS/Sarah Meyssonnier/File Photo
(Reuters) - STMicroelectronics (ST) said on Wednesday it will stand by the 2030 targets plan it laid out in 2022, despite three outlook cuts this year amid a slump in markets for the industrial and automotive chips it makes.
Europe's largest semiconductor manufacturer by revenue reiterated its revenue forecast to reach 20 billion euros ($21.17 billion) by 2027, with an operating margin above 30%.
(Reporting by Nathan Vifflin and Toby Sterling; Editing by Kim Coghill)
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