Streetbeat News

MIELF

Mitsubishi Electric Corporation

https://www.mitsubishielectric.co.jp/

Industry

All Other Miscellaneous Electrical Equipment and Component Manufacturing

Open

18.29

Mkt cap

41B

Volume

237

High

19.98

P/E Ratio

17.84

52-wk high

19.98

Low

18.29

Div yield

0.02

52-wk low

13.56

Mitsubishi Electric has announced a strategic partnership and investment in ModuleWorks, a software developer. This move aims to enhance Mitsubishi Electric's software capabilities for its computerized numerical control (CNC) systems. The partnership is expected to accelerate the development of advanced CNC solutions, benefiting customers in the manufacturing industry with improved efficiency and productivity. The financial terms of the investment were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 6:46 am

Mitsubishi Electric reported a 4% YoY increase in 2Q24 revenue to 1.318T yen. The net profit attributable to stockholders was up 51% YoY to 62.3B yen. Operating profit and profit before income taxes also saw significant increases of 61% and 47% respectively.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:07 am

Coherent Corp. (NYSE:COHR) has secured a $1 billion investment from Mitsubishi Electric Corp. (OTC:MIELF) and DENSO CORPORATION (OTC:DNZOF) for its silicon carbide business. Each company will invest $500 million for a 12.5% non-controlling ownership interest. The deal will increase Coherent's free cash flow and provide greater financial and operational flexibility. Coherent will also establish long-term supply agreements with DENSO and Mitsubishi Electric.

Portfolio Pulse from Nabaparna Bhattacharya

October 10, 2023 | 12:02 pm

Mitsubishi Electric has reaffirmed its fiscal 2024 outlook, projecting a revenue of 5.20 trillion yen and a net profit of 260 billion yen. This represents a 4% increase in revenue and a 22% increase in net profit year-on-year.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:29 am

Needham analyst Jim Ricchiuti reiterated a Buy rating on Coherent Corp. (NYSE:COHR) and nearly doubled the price target to $64 from $33. The company is expected to benefit from long-term recovery of network business and strength in industrial markets, boosted by AI. Coherent's recent MOU with Mitsubishi Electric Corp (OTC:MIELF) and the acquisition of Finisar are also seen as positive factors.

Portfolio Pulse from Nabaparna Bhattacharya

June 20, 2023 | 6:03 pm

Coherent and Mitsubishi Electric have partnered to scale the manufacturing of SiC power electronics on a 200 mm technology platform. The collaboration aims to meet the growing demand for SiC power devices in various industries.

Portfolio Pulse from Benzinga Newsdesk

May 26, 2023 | 10:06 am

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