Siltronic AG : Based on the Q3 2019 figures, we have raised our target price to € 70
>We are maintaining our Neutral recommendation after the Q3 release. Too soon to take a more aggressive stance … - Based on Siltronic’s slightly better-than-expected Q3 2019 results and with the 2019 guidance confirmed, we are maintaining our Neutral recommendation. Despite this good set of figures, we think it is still too early to play an upturn in the wafer market, as the semiconductor market is only just showing signs of stabilising. In our semiconductor universe...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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