Siltronic AG : We downgrade to Underperform (vs Neutral) after the rise in the share price and ahead of the Q4 2022 earnings report
>Set for another good quarter in Q4 2022, which is not a surprise - Siltronic is set to report its preliminary Q4 2022 results on 02/02 and its definitive results on 09/03. For Q4 2022, we look for sales of € 474m, stable sequentially but up 26% y-o-y (consensus € 475m). The 300mm and 200mm fabs are running at full capacity. We think that the current fall in demand in the different semiconductor segments will have had a only very limited impact on Siltronic’s 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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