Elmos Semiconductor AG : Growth in the automotive sector in 2019…a remarkable exception - target price raised to € 35 (vs € 30)
>Buy recommendation reiterated after a good Q3 - Following the Q3 2019 earnings release which was broadly in line, showing ongoing growth of 8%, and the group's upbeat stance at the conference call, we reiterate our Buy recommendation. The group is continuing to outperform the automotive market and its suppliers significantly thanks to its niche position (ultra-sonic sensors, LED, etc.) and market share gains. Even though the operating margin will probably be down thi...ELMOS Semiconductor is engaged in the development, manufacture and distribution of microelectronic components and system parts (application specific integrated circuits or, in short: ASICs) and technological devices with similar functions.Co. divides its activities into: medical technology, semiconductor, which is engaged in the sale of automotive electronics and supplying semiconductors e.g. for applications in household appliances, photo cameras, installation and building technology, and machine control systems; and micromechanics, which is engaged in the sales of product containing micro-electro-mechanical systems which are for the most part silicon-based high-precision pressure sensors.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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