diff --git a/stm32/Makefile b/stm32/Makefile
index 1ba8ccde..7791fa82 100644
--- a/stm32/Makefile
+++ b/stm32/Makefile
@@ -208,7 +208,7 @@ setup:
 	cd $(MPY_TOP) ; git submodule update --init lib/stm32lib
 	cd $(MPY_TOP)/lib/stm32lib ; sed -i.orig -e 's/#define VECT_TAB_OFFSET  0x00/    /' \
 				CMSIS/STM32L4xx/Source/Templates/system_stm32l4xx.c
-	cd ../extern/libngu; make one-time
+	cd ../external/libngu; make one-time
 	cd $(MPY_TOP)/mpy-cross ; make
 	-ln -s $(PORT_TOP) l-port
 	-ln -s $(MPY_TOP) l-mpy