By Cristina Roca

STMicroelectronics NV on Thursday issued targets for the 2025-27 period ahead of the start of its capital markets day.

The European chip maker said it expects to reach a goal of revenue of more than $20 billion sometime in the period. This compares with revenue expectations of $14.8 billion to $15.3 billion for 2022.

STMicroelectronics also aims to expand its gross margin to about 50% for the period, compared with a goal of about 46% for this year. Operating margin should expand to more than 30%, compared with 2022 guidance of 24% to 26%, the company said.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

May 12, 2022 01:40 ET (05:40 GMT)

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