Siltronic AG : Q3 2023 will probably be the bottom for the year
>Underperform rating reiterated, target price lowered to € 60 vs € 65 - Following the publication of Siltronic’s Q2 2023 results, we lower our EPS estimates by an average of 20% for 2023 and 2024 and cut our target price to € 60 vs € 65. H2 2023 will be challenging for Siltronic, particularly Q3, which could be the bottom. The weakness in H2 stems from the slowdown in demand due to excess inventories at clients, particularly memory manufacturers. As a result, volumes ...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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