Soitec: Oddo still a buyer

(CercleFinance.com) - Oddo maintains its "outperform" rating on Soitec shares, maintaining its target price of 220 euros (33% upside potential).


Yesterday evening the semiconductor specialist published 2020-2021 sales (to end-March) of 584 million euros, slightly below expectations (592/595 million euros), with no surprise in terms of organic growth (+1%).

For FY 2021-2022, Soitec has announced that it is targeting sales of over 900 million dollars, implying organic growth of over 30% - driven in particular by 5G, Oddo says.

In an updatepublished yesterday morning, the broker's review of market indicators confirms that this target is not at risk, quite the contrary (rebound in smartphone sales, strong rise in 5G, recovery of the automotive cycle, etc., the analyst says.

The share is up very slightly in early trading on Thursday.


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