Nov 12 (Reuters) - STMicroelectronics' Chief Executive

Jean-Marc Chery said he expects 2026 to start at usual levels,

noting that a weaker recovery than expected this year will not

lead to the accumulation of inventory at its customers.

Speaking at a Morgan Stanley conference, Chery projected

first-quarter revenue to decline 10% to 11% from the upcoming

fourth quarter it forecast at $3.28 billion, while still marking

about 20% growth from a year earlier.

"Which is positive news confirming that we are almost free

of material inventory correction," he said.

Analysts polled by LSEG expect revenue for the first

quarter of 2026 at $2.98 billion, 10% lower than the projected

fourth quarter.

STMicroelectronics is slowly

recovering

from a long downturn in the automotive, industrial and

personal electronics chip markets, hurt by a sustained buildup

of inventory at its customers.

Its shares rose 1.4% at 1113 GMT following the event.