Report
Frederic Yoboue

DIALOG SEMICONDUCTOR - BUY | EUR50(+41%) Still a bargain

DIALOG SEMICONDUCTOR - BUY | EUR50(+41%)
Still a bargain

Management is being cautious on long-term guidance
Current tailwinds are likely to continue into 2021
Dialog has already implemented half of the synergies with Adesto
We remain at Buy with a target price of EUR50
Underlying
Dialog Semiconductor plc

Dialog Semiconductor is engaged in creating and marketing mixed signal integrated circuits for personal, portable, hand-held devices, low energy short-range wireless, LED solid-state lighting and automotive applications. Co. has four segments: Mobile Systems, which includes its power management and audio chips for the wireless systems markets; Automotive and Industrial, which markets products that address the safety, management and control of electronic systems in cars and for industrial applications; Connectivity, with activities that include short-range wireless, digital cordless, Bluetooth and VoIP technology; and Power Conversion, which includes its AC/DC converter solutions.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Frederic Yoboue

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