Siltronic AG : 2022 continues to be a strong year despite concerns about slowing demand
>Outperform opinion maintained, Target Price raised to € 95 vs € 90 - Following Q2 2022 results (link to our initial reaction), we are reiterating our Outperform opinion and raising our target price to € 95 vs € 90 after raising our EPS forecasts by 10% for 2022 and by 2% for 2023. The share price rallied by 6% on Friday because of solid Q2 2022 results (9.5% above the consensus) and an upgrade to 2022 sales guidance. Despite warnings by a few of its clients, such as...Siltronic AG is a Germany-based producer of hyperpure silicon wafers. The Company offers polished wafers, epitaxial wafers and annealed wafers, among others. Its products are used for semiconductor components, including high-voltage applications, low resistivity devices in automotive engineering and telecommunications, as well as integrated microprocessors and memory modules for information processing in cell phones, laptops and other consumer goods. The Company also produces high reflectivity (HiREF) wafers, as well as PowerFZ wafers for power applications and Ultimate Silicon for complementary metal-oxide semiconductor (CMOS) applications. It operates production facilities in Europe, Asia and the United States.
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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