STMicroelectronics (STM) Invests $60 Million to Boost Advanced Chip Production in France

STMicroelectronics N.V. (NYSE:STM) ranks among the best cheap semiconductor stocks to buy. On September 17, STMicroelectronics N.V. (NYSE:STM) announced a $60 million investment in its Tours, France, plant, where it aims to create an experimental line for advanced semiconductor manufacturing technology. As part of a significant restructuring planned in October, the company has been transferring aging chipmaking lines away from Tours.

Known as Panel-Level Packaging (PLP), the new technology enables STMicroelectronics N.V. (NYSE:STM) to produce chips on a large square panel rather than tiny circular silicon wafers. The company currently produces more than five million chips a day at its plant in Muar, Malaysia, using the technology for one customer.

STMicroelectronics N.V. (NYSE:STM) manufactures a diverse range of analog, digital, and mixed-signal integrated circuits (ICs) and discrete devices for the industrial, automotive, consumer electronics, and communication applications.

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Disclosure: None. This article is originally published at Insider Monkey.