Siltronic AG : No recovery until H2 2024
>Underperform rating maintained, target price lifted to € 70 vs € 60 - Following Siltronic’s CMD in London yesterday, we maintain our Underperform rating and increase our target price to € 70 vs € 60 following the update to our DCF valuation. The CMD enabled us to grasp the group’s vision out to 2028. However, its targets were in line with the consensus. Despite the signs of improvement in the semiconductor market, Siltronic will not begin to benefit from the improvem...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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