Aixtron is a provider of deposition equipment to the semiconductor industry. Co.'s technology solutions are used by customers to build components for electronic and opto-electronic applications based on compound, silicon, or organic semiconductor materials. The components are used in displays, signaling, lighting, fiber optic communication systems, wireless and mobile telephony applications, optical and electronic storage devices, computing, as well and other technologies. Co. supplies to customers both full production-scale chemical vapor deposition systems and small scale systems for research and development use.
  • TickerAIXA
  • ISINDE000A0WMPJ6
  • SectorTechnology Hardware & Equipment
  • CountryGermany
Emmanuel Matot ...
  • Stephane Houri

ODDO : Acquisition of Maxim by Analog Devices: Europe won’t be able to stay out of the consolidation movement for much longer

>Acquisition of Maxim by Analog Devices for $ 21bn, at 29x EBITDA 2021e - Analog Devices yesterday offered to acquire Maxim Integrated Products for around $ 21bn, i.e. a premium of 20% to Friday evening’s closing price. The deal values Maxim at 9.7x 2021e sales and 28.7x 2021e EBITDA, which is very high (the SOXX is at 13.3x 2021e EBITDA). The combined entity will weigh in at around $ 68bn in terms of enterprise value, or a little over half of its main competitor Texa...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Acquisition of Maxim by Analog Devices: Europe won’t be able to stay out of the consolidation movement for much longer

>Acquisition of Maxim by Analog Devices for $ 21bn, at 29x EBITDA 2021e - Analog Devices yesterday offered to acquire Maxim Integrated Products for around $ 21bn, i.e. a premium of 20% to Friday evening’s closing price. The deal values Maxim at 9.7x 2021e sales and 28.7x 2021e EBITDA, which is very high (the SOXX is at 13.3x 2021e EBITDA). The combined entity will weigh in at around $ 68bn in terms of enterprise value, or a little over half of its main competitor Texa...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Rachat de Maxim par Analog Devices : l’Europe ne pourra rester longtemps à l’écart du mouvement de consolidation

>Rachat de Maxim par Analog Devices pour 21 Md$, à 29x l’EBITDA 2021e - Hier, Analog Devices a proposé le rachat de Maxim Integrated Products pour environ 21 Md$, soit une prime de 20% sur le cours de clôture de vendredi soir. L’opération valorise Maxim à 9.7x le CA 2021e et 28.7x l’EBITDA 2021e, niveau très élevé (le SOXX est à 13.3x l’EBITDA 2021e). L’entité combinée pèsera environ 68 Md$ en valeur d’entreprise, soit un peu plus de la moitié de son principal concurr...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Worldwide semiconductor sales in May: once again saved by the acceleration in memory

>Worldwide semiconductor sales in May 2020 once again beat forecasts, with just a very slight deceleration vs April - Worldwide semiconductor sales for May 2020 were published at the weekend by WSTS (World Semiconductor Trade Statistics), with a month’s lag, as usual. On a three-month moving average, they came to $ 35bn, beating our $ 34.2bn forecast. This marks a very slight deceleration, with y-o-y growth of 5.8%, after +6.1% in April and +6.9% in March. Volumes wer...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Ventes mondiales de semi-conducteurs de mai : de nouveau sauvé par l’accélération de la mémoire

>Ventes mondiales de mai 2020 de nouveau supérieures aux attentes, seulement une très faible décélération par rapport à avril - Les ventes mondiales de semi-conducteurs de mai 2020 ont été publiées ce week-end par la WSTS (World Semiconductor Trade Statistics), comme d’habitude avec un mois de décalage. En données lissées (MM3 – Moyennes Mobiles 3 mois), elles ressortent à 35 Md$, supérieures à notre prévision de 34.2 Md$. Il s’agit d’une très légère décélération, ave...

Stephane Houri

Accor : Digitisation post-COVID: what consequences for our sectors and stocks?

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. - >Accelerated digitisation, no turning back - The COVID-19 crisis will without a doubt accelerate use of digital in society in general. The effectiveness of teleworking has...

Aurelien Sivignon ...
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jerôme Bodin
  • Martin Marandon-Carlhian
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 07/06/2020

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With a more favourable environment, AIXTRON AG improves to Slightly Positive

AIXTRON AG (DE), a company active in the Semiconductors industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date June 30, 2020, the closing price was EUR 10.65 and its potential was estimated at EUR 12.12.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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