(Reuters) -STMicroelectronics' chief executive said on Wednesday that the French-Italian chipmaker has seen signs of an upcycle - a period of increased market demand - which will boost its results in the coming quarters.

Speaking at an event hosted by BNP Paribas, CEO Jean-Marc Chery said STMicro would deliver at least the mid-point of its second-quarter guidance. It had forecast revenue of $2.71 billion at mid-point for the quarter in its last earnings report.