Elmos Semiconductor SE : Excellent figures and more positive view on 2023
>Neutral rating confirmed, target price raised to € 50 (vs € 45) - The stock gained 1% yesterday (in a bear market) on the back of an excellent Q3 (link to our initial reaction) and a fresh guidance upgrade. The tone was very optimistic on 2023 (limited risk of price declines, better visibility on wafer capacities, demand still very strong). We have thus upgraded our forecasts for 2022-2023e by 8%, with a more positive view on 2023 (growth of 13% vs 8% previously, du...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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