Siltronic AG : Despite forex and the mix, the situation is slowly improving – Buy rating reiterated
>Buy rating and target price of € 110 maintained after the conference call - Following the publication of Q3 2020 results, we reiterate our Buy rating and target price of € 110. This earnings release admittedly fell short of expectations due to the €/$ and an unfavourable product mix. Yet we believe that demand is improving slowly but surely (it remains strong in logic, is improving slowly in memory, which represents 40% of volumes, despite the level of inventories, ...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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