Siltronic AG : A bit too soon to play a late cyclical semiconductor stock
>We maintain our Neutral rating - With the year end approaching, we took stock of the situation with Siltronic. We are still torn between the desire to play, as of now, one of the sector laggards (share price gain of ‘just’ +24% YTD vs the SOXX up +57%) and the idea that Siltronic is one of the sector’s ‘late cyclical’ stocks and that it therefore may not yet be the right time. As in our most recent discussions, the group maintained a very cautious tone (perhaps over...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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