Report
David Silver
EUR 101.80 For Business Accounts Only

Versum enables chipmakers to achieve higher performance at lower cost with enhanced reliability.

We plan to raise our $30 fair value estimate for narrow-moat electronic materials supplier Versum Materials by roughly 10% after very strong fiscal third-quarter results and updated management guidance of stronger forecast revenue, operating income, and operating cash flow.
Versum is transitioning to an independent company after its October 2016 spin-off from Air Products & Chemicals. Key steps underway include relocating its headquarters to Tempe, Arizona, creating and implementing an enter...
Underlying
Versum Materials Inc.

Versum Materials is a provider of solutions to the semiconductor and display industries with knowledge in the development, manufacturing, transportation and handling of specialty materials. The company has two segments: Materials, which provides materials for deposition, metallization, chamber cleaning and etching, chemicals mechanical planarization slurries, organosilanes, organometallics and liquid dopants for thin film deposition, and chemical products; and Delivery Systems and Services, which designs, manufactures, installs, operates, and maintains chemical and gas delivery and distribution systems for specialty gases and chemicals delivered directly to the company's customers' manufacturing tools.

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
David Silver

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