Report
Timothy Feeney
EUR 101.80 For Business Accounts Only

Launching Coverage of AMS With No Economic Moat, a Stable Moat Trend, and an FVE of CHF 53

We are launching coverage on AMS with a fair value estimate of CHF 53 as well as no-moat and very high uncertainty moat trend ratings. AMS is a world leader in sensors, sensor solutions, and analog integrated circuits and is largely engaged in the development, manufacture, and sale of optical sensors for the consumer end market. We think AMS is positioned well to benefit from increased sensor content in smartphones, and we believe this will largely drive revenue growth over the near term. Howeve...
Underlying
Ams AG

AMS provides advanced sensor and analog solutions for high value and emerging markets. Co.'s markets include Consumer and Communications and Industrial, Medical, Automotive. Co. delivers a broad range of innovative technology solutions for consumer electronics and communication device manufacturers including intelligent light sensors, MEMS microphone ICs, NFC solutions, active noise-cancelling ICs and ultra-low power management solutions. Co. offers customized, application-specific integrated circuits and standard solutions for a broad range of industrial applications including automation and control, position sensors, building automation, security and high-resolution seismic analysis.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Timothy Feeney

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