STMicroelectronics Flips the Switch on Sustainability With Another Renewable Energy Agreement In Italy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 11 2024
0mins
Source: Benzinga
- STMicroelectronics PPA with Centrica: Signed a 10-year Power Purchase Agreement (PPA) with Centrica Energy Trading A/S to supply renewable energy to its operations in Italy from January 2025.
- Renewable Energy Supply: Centrica Energy will sell around 61 GWh of renewable energy per year, generated by a new solar farm in Italy, to STMicroelectronics.
- STMicroelectronics Operations: Operates semiconductor manufacturing sites in Agrate and Catania, along with various R&D, design, and sales/marketing sites in Italy.
- Carbon Neutrality Goal: STMicroelectronics aims to become carbon neutral in its operations by 2027, including sourcing 100% renewable energy by the same year.
- Investment Opportunities: Investors can access STM shares through ETFs like Veridien Climate Action ETF (CLIA) and Columbia Seligman Semiconductor And Technology ETF (SEMI).
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Analyst Views on STM
Wall Street analysts forecast STM stock price to fall
7 Analyst Rating
2 Buy
5 Hold
0 Sell
Moderate Buy
Current: 77.300
Low
25.00
Averages
33.25
High
45.00
Current: 77.300
Low
25.00
Averages
33.25
High
45.00
About STM
STMicroelectronics N.V. is a Netherlands-based semiconductor company. It designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company's segments include Automotive and Discrete Group (ADG), Analog, MEMS and Sensors Group (AMS), and Microcontrollers and Digital ICs Group (MDG). The ADG segment comprises all dedicated automotive Integrated Circuits (ICs), and discrete and power transistor products. The AMS segment includes low-power analog ICs for all markets, smart power products; Touch Screen Controllers, Low Power Connectivity solutions for Internet of Things (IoT), and power conversion products, among others. The AMS segment comprises general purpose and secure microcontrollers, and Electrically Erasable Programmable Read-Only Memory memories.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Cost Efficiency: The simplified circuit design and digital sensing advantages of the IIS3DWB10IS make it a compelling alternative to piezoelectric sensors, with a projected launch price of $25 for orders of 1,000 pieces, further strengthening its competitive position in the market.
See More
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