(Reuters) – Belgium’s largest semiconductor supplier Melexis on Wednesday forecast lower-than-expected fourth-quarter sales, citing temporary stock reductions by car-making customers and uncertainty about short-term demand.
The group, which provides components primarily to automotive customers, expects sales in the current quarter of between 200 million and 210 million euros ($216 million to $227 million), compared to an average analyst estimate of 255.1 million euros, according to a company-compiled consensus.
($1 = 0.9244 euros)
(Reporting by Dagmarah Mackos; Editing by Tom Hogue)
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source: https://theprint.in/tech/belgiums-melexis-forecasts-lower-q4-sales-as-automotive-customers-cut-inventory/2334904/
