X-Fab Silicon Foundries SE

X Fab Silicon Foundries EV is a Belgium-based company primarily engaged in the semiconductors industry. The Company focuses on the design and manufacture of silicon wafers for mixed-signal integrated circuits (ICs). Its products are integrated with additional features, such as high voltage option, embedded non-volatile memory, optical, radio frequency (RF) and bipolar elements, as well as microelectromechanical sensors. The Company distributes silicon wafers for various applications, including automotive, industrial, medical, as well as consumer electronics and mobile communications sector. The Company operates in a number of countries, such as Germany, France, Malaysia and the United States.
  • TickerA2DNYG
  • ISINBE0974310428
  • ExchangeEuronext Paris
  • SectorTechnology Hardware & Equipment
  • CountryBelgium

Analysts

Emmanuel Matot ...
  • Stephane Houri

ODDO : How to play the arrival at the bottom in the semiconductors cycle on Q2 2019 publications?

We have probably reached the bottom of the cycle in the semiconductors sector. The slope of the recovery in H2 remains uncertain. We prefer stocks with their own specific drivers for H2 like ASML, STMicroelectronics and ams. We are downgrading our recommendation for Aixtron to Neutral (vs Buy). - >Relatively optimistic view of the Q2 2019 publications season due to arrival at the bottom in the cycle - We have a relatively optimistic view of the sector ahead of the Q2 2...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Comment jouer l’arrivée du point bas du cycle semis sur la saison des publications du T2 2019 ?

Nous sommes probablement arrivés au point bas du cycle des semi-conducteurs. La pente de la reprise au S2 reste incertaine. Nous jouons les valeurs ayant des moteurs propres comme ASML, STM ou ams. Nous dégradons Aixtron à Neutre (vs Achat). - >Vision plutôt optimiste, à l'approche de la saison des publications des T2 2019, en raison de l’arrivée du point bas du cycle - Nous abordons la saison des publications du T2 2019 avec une vision plutôt positive sur le secteur. ...

Bruno Cavalier ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/01/2019

The trade truce is a powerful (albeit transitory) positive event for the markets. If we assume that the risk premium retraces an estimated 50% of its increase since the beginning of May, then the indices should record an increase of around 3%. But watch out, gravity will regain its natural ascendency. Overall growth continues to slow and so does EPS growth. Issues relating to the cycle will resurface and, paradoxically, the appeasing of trade tensions could remove from the Fed an argu...

Stephane Houri ...
  • Veysel Taze

ODDO : Worldwide sales for May 2019 - If this is not the low point, it sure looks like it

>Worldwide semiconductor sales in May 2019 came in a shade above our forecast ($ 33.1bn vs $ 32.4bn), -14.6% y-o-y (-13.7% in April) and -4.4% excl. memories (vs -4.3%). - Worldwide semiconductor sales for May 2019 were published at the weekend by WSTS (World Semiconductor Trade Statistics), with a month’s lag, as usual. On a three-month moving average, sales in May totalled $ 33.06bn, ahead of our forecast of $ 32.4bn. This represents a 14.6% decline on a full-year b...

Emmanuel Matot ...
  • Stephane Houri

ODDO : How to play the arrival at the bottom in the semiconductors cycle on Q2 2019 publications?

We have probably reached the bottom of the cycle in the semiconductors sector. The slope of the recovery in H2 remains uncertain. We prefer stocks with their own specific drivers for H2 like ASML, STMicroelectronics and ams. We are downgrading our recommendation for Aixtron to Neutral (vs Buy). - >Relatively optimistic view of the Q2 2019 publications season due to arrival at the bottom in the cycle - We have a relatively optimistic view of the sector ahead of the Q2 2...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Comment jouer l’arrivée du point bas du cycle semis sur la saison des publications du T2 2019 ?

Nous sommes probablement arrivés au point bas du cycle des semi-conducteurs. La pente de la reprise au S2 reste incertaine. Nous jouons les valeurs ayant des moteurs propres comme ASML, STM ou ams. Nous dégradons Aixtron à Neutre (vs Achat). - >Vision plutôt optimiste, à l'approche de la saison des publications des T2 2019, en raison de l’arrivée du point bas du cycle - Nous abordons la saison des publications du T2 2019 avec une vision plutôt positive sur le secteur. ...

Stephane Houri ...
  • Veysel Taze

ODDO : Worldwide sales for May 2019 - If this is not the low point, it sure looks like it

>Worldwide semiconductor sales in May 2019 came in a shade above our forecast ($ 33.1bn vs $ 32.4bn), -14.6% y-o-y (-13.7% in April) and -4.4% excl. memories (vs -4.3%). - Worldwide semiconductor sales for May 2019 were published at the weekend by WSTS (World Semiconductor Trade Statistics), with a month’s lag, as usual. On a three-month moving average, sales in May totalled $ 33.06bn, ahead of our forecast of $ 32.4bn. This represents a 14.6% decline on a full-year b...

Stephane Houri ...
  • Veysel Taze

ODDO : Ventes mondiales de mai 2019 – Si ce n’est pas le point bas, ça y ressemble

>Ventes mondiales de mai 2019 un peu supérieures à notre prévision (33,1 Md$ vs 32,4 Md$), en baisse yoy de 14,6% (-13,7% en avril) et de 4,4% hors mémoires (vs -4,3%) - Les ventes mondiales de semi-conducteurs de mai 2019 ont été publiées ce week-end par le WSTS (World Semiconductor Trade Statistics), comme d’habitude avec un mois de décalage. En données lissées (MM3 – Moyennes Mobiles 3 mois), elles ressortent à 33,06 Md$, au-dessus de notre prévision de 32.4 Md$. I...

Stephane Houri ...
  • Veysel Taze

ODDO : April very close to our expectations, too soon to gauge the impact of the stepping up of the trade war on H2

>Decline of 14.6% in sales y-o-y in April (vs -13% in March) and of 5.9% excluding memories, very close to our estimates - Worldwide semiconductor sales for April 2019 were published at the weekend by WSTS (World Semiconductor Trade Statistics), with a month’s lag, as usual. On a three-month moving average, sales in April came to $ 32.1bn, ahead of our forecast of $ 31.7bn. This represents a -14.6% decline on a full-year basis, after -13% in March. We had been forecas...

1 director bought

A director at X-Fab Silicon Foundries SE bought 300,000 shares at 5.310EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The ...

Bruno Cavalier ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/01/2019

The trade truce is a powerful (albeit transitory) positive event for the markets. If we assume that the risk premium retraces an estimated 50% of its increase since the beginning of May, then the indices should record an increase of around 3%. But watch out, gravity will regain its natural ascendency. Overall growth continues to slow and so does EPS growth. Issues relating to the cycle will resurface and, paradoxically, the appeasing of trade tensions could remove from the Fed an argu...

Bruno Cavalier ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 01/07/2019

La trêve décidée est un évènement positif puissant mais transitoire pour les marchés. Si l’on estime que la prime de risque retrace 50% de son augmentation depuis début mai, les indices devraient enregistrer une hausse de l’ordre de 3%. Mais attention, la gravité va reprendre ses droits. La croissance globale poursuit son ralentissement et celle des BPA aussi. Les questions relatives au cycle vont refaire surface et paradoxalement l’apaisement commercial pourrait ôter à la FED un argu...

Bruno Cavalier ...
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Veysel Taze

STMicroelectronics N.V. : ODDO BHF SThe 2019 Extel* survey has just named ODDO BHF “number 1 broker on French equities” for the fourth consecutive year. It has also ranked ODDO BHF “number 5 broker on German equities”, five places higher than last year. T

...

Bruno Cavalier ...
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/06/2019 L’enquête EXTEL* 2019 vient de désigner ODDO BHF « 1er broker sur les actions françaises » pour la 4ème année consécutive. Elle classe aussi ODDO BHF « 5ème broker sur les actions allema

...

Alain William ...
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Steven Gould
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/23/2019

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Thanks to a better fundamental star rating, X-FAB sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to X-FAB (FR), active in the Semiconductors industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date April 12, 2019, the closing price was EUR 5.19 and its expected value was estimated at EUR 4.74.

Matthieu DRIOL

Short term view - X-FAB : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €4.29. The background trend would be questioned should prices rise above €7.65.

Matthieu DRIOL

Analyse court terme - X-FAB : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 4,29 €. La tendance de fond serait remise en cause en cas de franchissement de 7,65 €.

Matthieu DRIOL

Short term view - X-FAB : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €4.29, then €4.05. Passing €7.65 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - X-FAB : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 4,29 €, puis 4,05 €. Le franchissement de 7,65 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Analyse moyen terme - X-FAB : La tendance est haussière.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 4,61 €. La tendance serait remise en cause par la rupture de 3,11 €.

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