X-Fab Silicon Foundries SE

X Fab Silicon Foundries EV is a Belgium-based company primarily engaged in the semiconductors industry. The Company focuses on the design and manufacture of silicon wafers for mixed-signal integrated circuits (ICs). Its products are integrated with additional features, such as high voltage option, embedded non-volatile memory, optical, radio frequency (RF) and bipolar elements, as well as microelectromechanical sensors. The Company distributes silicon wafers for various applications, including automotive, industrial, medical, as well as consumer electronics and mobile communications sector. The Company operates in a number of countries, such as Germany, France, Malaysia and the United States.
  • TickerXFAB
  • ISINBE0974310428
  • ExchangeEuronext Paris
  • SectorTechnology Hardware & Equipment
  • CountryBelgium

Analysts

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Matthias Desmarais
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 03/03/2020

...

Charles Lepetitpas ...
  • Emira Sagaama
  • Emmanuel Matot
  • Jerôme Bodin
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/03/2020

The recent correction has opened up opportunities. We have calculated an impact of -5% on Q1 2020 EBIT from COVID-19. Above all, we think: i/ organic growth momentum will remain higher than the sector’s; ii/ the acquisitions model is intact; and iii/ the issue with the EBIT margin, which is still north of 15.5%, must not be overestimated. Buy rating maintained. Cf. equity report published last evening. - ...

Charles Lepetitpas ...
  • Emira Sagaama
  • Emmanuel Matot
  • Jerôme Bodin
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/03/2020

La correction récente offre des opportunités. Nous avons calculé un impact COVID-19 de -5% sur l’EBIT T1. Surtout, nous estimons que : i/ la dynamique de croissance organique va rester supérieure à celle du secteur, ii/ le modèle d’acquisitions est intact et iii/ l’enjeu sur la marge d’EBIT, qui reste supérieure à 15.5%, ne doit pas être surestimé. Achat maintenu. Cf. étude publiée hier soir. - ...

Emmanuel Matot ...
  • Stephane Houri

ODDO : A very good January 2020, but that was before (Covid-19)...

>January beat forecasts, with a market that was almost flat once again vs the previous year - Worldwide semiconductor sales for January 2020 were published yesterday evening by WSTS (World Semiconductor Trade Statistics), with a month’s lag, as usual. On a three-month moving average, they came to $ 35.4bn, 1.7% above our forecast for $ 34.8bn. This marks a significant improvement, with the year-on-year decline moving from -5.5% in December to -0.2% in January. In seq...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Matthias Desmarais
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 03/03/2020 Date Performance depuis l’entrée Date Performance depuis l’entrée

...

Matthieu DRIOL

Short term view - X-FAB : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €4.29. The background trend would be questioned should prices rise above €7.65.

Matthieu DRIOL

Analyse court terme - X-FAB : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 4,29 €. La tendance de fond serait remise en cause en cas de franchissement de 7,65 €.

Matthieu DRIOL

Short term view - X-FAB : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €4.29, then €4.05. Passing €7.65 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - X-FAB : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 4,29 €, puis 4,05 €. Le franchissement de 7,65 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Analyse moyen terme - X-FAB : La tendance est haussière.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 4,61 €. La tendance serait remise en cause par la rupture de 3,11 €.

1 director bought

A director at X-Fab Silicon Foundries SE bought 140,000 shares at 3.860EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The ...

Emmanuel Matot ...
  • Stephane Houri

ODDO : A very good January 2020, but that was before (Covid-19)...

>January beat forecasts, with a market that was almost flat once again vs the previous year - Worldwide semiconductor sales for January 2020 were published yesterday evening by WSTS (World Semiconductor Trade Statistics), with a month’s lag, as usual. On a three-month moving average, they came to $ 35.4bn, 1.7% above our forecast for $ 34.8bn. This marks a significant improvement, with the year-on-year decline moving from -5.5% in December to -0.2% in January. In seq...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Très bon mois de janvier 2020, mais ça c’était avant (COVID-19)…

>Janvier supérieur aux attentes, avec un marché qui revient presque flat par rapport à l’an dernier - Les ventes mondiales de semi-conducteurs de janvier 2020 ont été publiées hier soir 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 35.4 Md$, supérieure de 1.7% à notre prévision de 34.8 Md$. Il s’agit d'une forte amélioration, car la baisse en variat...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Coronavirus and semiconductors: what impact? Which stocks to buy quickly, monitor or sell?

>A sector unfortunately and unsurprisingly exposed to the impact of the virus - As we explained in our cross-sector flash of 3 February (link to flash), the semiconductors sector is one of the most exposed to the potential consequences of the coronavirus, because 1/ a large share of the semiconductor manufacturing and consumption chain is in China or in vulnerable zones such as Taiwan and South Korea and 2/ the weight of Chinese consumption, notably in the purchase of...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Coronavirus et semi-conducteurs : Quels impacts ? Quelles valeurs faut-il racheter rapidement, surveiller ou alléger ?

>Un secteur exposé aux conséquences du virus, sans surprise, malheureusement… - Comme nous l’avions expliqué dans notre document transversal du 3/02 (Lien vers la note), le secteur des semi-conducteurs est un des plus exposés aux conséquences potentielles du coronavirus, car 1/ une partie importante de la chaîne de fabrication ou de consommation des semi-conducteurs est en Chine ou dans des zones sensibles comme Taiwan ou la Corée et 2/ le poids du consommateur chinoi...

Emmanuel Matot

X-FAB Silicon Foundries SE : Exit from the crisis in sight – Recommendation raised

>Losses deeper than expected in the last quarter - X-Fab reported its Q4 2019 results yesterday evening. The net loss proved deeper than expected (-$ 22m vs ODDO BHF = -$ 13m). The main reason did not lie with sales (-17% to $ 113m vs guidance = $ 111m-118m) but with the EBITDA margin (-2% vs guidance = 1/7%) which was impacted by one-off events (-$ 5m due to a manufacturing issue and the end of a project with a supplier).For the first time, all of the group's ma...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Matthias Desmarais
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 03/03/2020

...

Charles Lepetitpas ...
  • Emira Sagaama
  • Emmanuel Matot
  • Jerôme Bodin
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/03/2020

The recent correction has opened up opportunities. We have calculated an impact of -5% on Q1 2020 EBIT from COVID-19. Above all, we think: i/ organic growth momentum will remain higher than the sector’s; ii/ the acquisitions model is intact; and iii/ the issue with the EBIT margin, which is still north of 15.5%, must not be overestimated. Buy rating maintained. Cf. equity report published last evening. - ...

Charles Lepetitpas ...
  • Emira Sagaama
  • Emmanuel Matot
  • Jerôme Bodin
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/03/2020

La correction récente offre des opportunités. Nous avons calculé un impact COVID-19 de -5% sur l’EBIT T1. Surtout, nous estimons que : i/ la dynamique de croissance organique va rester supérieure à celle du secteur, ii/ le modèle d’acquisitions est intact et iii/ l’enjeu sur la marge d’EBIT, qui reste supérieure à 15.5%, ne doit pas être surestimé. Achat maintenu. Cf. étude publiée hier soir. - ...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Matthias Desmarais
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 03/03/2020 Date Performance depuis l’entrée Date Performance depuis l’entrée

...

Thanks to a better fundamental star rating, X-FAB sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to X-FAB (FR), active in the Semiconductors industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date February 14, 2020, the closing price was EUR 5.48 and its expected value was estimated at EUR 4.89.

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