Aixtron AG (ADR) (NASDAQ:AIXG)

CAPS Rating: 3 out of 5

The Company is a provider of deposition equipment to the semiconductor industry.

Recs

1
Player Avatar portefeuille (99.50) Submitted: 9/29/2009 8:18:46 PM : Outperform Start Price: $26.00 AIXG Score: -45.34

AIXTRON Analyst Earnings Conference Call, First Half 2009 Results, July 30, 2009 -> http://www.aixtron.com/fileadmin/user_upload/IR/2009/Q2-2009/090730_e-H1_presentation_final.pdf
Transcript of AIXTRON Analyst Earnings Conference Call, First Half 2009 Results, July 30, 2009 -> http://www.aixtron.com/fileadmin/user_upload/IR/2009/Q2-2009/Speaker_Notes_Q_A.pdf

Report this Post 16 Replies
Member Avatar portefeuille2 (99.51) Submitted: 10/6/2009 5:38:32 PM
Recs: 0

Aixtron is one of my "LED stock recommendations".

AIXG - Aixtron -> http://www.aixtron.com/
VECO - Veeco Instruments -> http://www.veeco.com/
011070.KS - LG Innotek -> http://www.lginnotek.com/
009150.KS - Samsung Electro-Mechanics -> http://www.sem.samsung.com/
001210.KS - Kumho Electric -> http://www.khe.co.kr/eng/index_eng_1.asp

-----------------------------------------
#462) On April 23, 2009 at 4:18 AM, portefeuille (99.99) wrote: AIXG - 7.05 (5.41 EUR) - outperform
#463) On April 23, 2009 at 4:23 AM, portefeuille (99.99) wrote: VECO - 6.57 - outperform
#770) On September 04, 2009 at 4:03 AM, portefeuille (99.99) wrote: 011070.KS - 122.84 (152500 KRW) - outperform
#815) On October 03, 2009 at 8:10 PM, portefeuille (99.99) wrote: 001210.KS - 45.83 (54200 KRW) - outperform
-----------------------------------------
(from here -> http://caps.fool.com/Blogs/ViewPost.aspx?bpid=121799)

Member Avatar portefeuille (99.50) Submitted: 10/13/2009 2:22:21 AM
Recs: 0

also have a look at this post. -> http://caps.fool.com/Blogs/ViewPost.aspx?bpid=275666.

Member Avatar portefeuille (99.50) Submitted: 10/13/2009 9:25:51 PM
Recs: 0

-----------------------------------------

Short supply of MOCVD tool hampers LED supply

Thursday, October 01, 2009
Analysis by: Munisamy Anandan

Analysis:
The news item is from Epistar which bought 150th MOCVD tool from Aixtron. They had celebration for the 150th tool. According to the news, the demand for LEDs in Notebook alone is 25 Billion in 2010. To meet this demand alone 140 MOCVD tools are required by LED chip manufacturers. They need to run at full capacity utilization. The tool makers can procure only 100 tools although orders have been already placed. On top of this the demand for lighting market is not taken in to the equation. Once the tools are received it takes one year to supply the chips to the customers. in 2010 short supply of LEDs are expected.

There are three known MOCVD tool manufacturers and they are (i) Veeco (ii) Aixtron (iii) Taiyo Nippon Sanso Corp. The two major tool manufacturers are the first two and they dominate the entire global market. They can not meet the global demand for the tools. There was a rumor for sometime that Applied Materials Inc may enter this market. Applied Materials Inc has MOCVD process but that is for 'trench coating' in ICs using TiN process. They do not have InGaN process. The MOCVD process for LED fabrication is a complicated process. Any big company like Applied Materials Inc wants to grab the opportunity of the booming demand for LED, the quickest way of seizing the opportunity is either through partnership with the expert companies or acquisition of the major players. Veeco or Aixtron is not for sale but may be for partnership.

Whatever happens is not going the ease the LED supply position. White LED supply in 2010 will be tight and the price of white LED will rise because the price is already at the bottom. There will be a rise in Notebook price that employ LED backlight. This may be the time for CCFL backlight to be back with more share it lost to LED backlight.

-----------------------------------------
(from here -> http://www.glgroup.com/News/Short-supply-of-MOCVD-tool-hampers-LED-supply-43802.html )

Member Avatar portefeuille (99.50) Submitted: 10/14/2009 9:58:11 AM
Recs: 0

10/14/09 Credit Suisse, still "neutral", 12.80 EUR -> 18.00 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10e 355 MEUR -> 420 MEUR, eps10e 0.48 EUR -> 0.60 EUR, rev11e 450 MEUR, eps11e 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".

Member Avatar portefeuille (99.50) Submitted: 10/30/2009 2:17:09 PM
Recs: 0

Ad Hoc: AIXTRON Aktiengesellschaft generates gross proceeds of approx. EUR 159.4 million from capital increase -> http://www.aixtron.com/index.php?id=312&L=1&tx_ttnews[tt_news]=1167.

Member Avatar portefeuille (99.50) Submitted: 10/30/2009 3:05:37 PM
Recs: 1

10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10e 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10e 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 Unicredit, "hold" -> "buy", 16.00 EUR -> 23.00 EUR, eps10e 0.53 EUR -> 0.72 EUR, eps11e 0.70 EUR -> 0.90 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10e 355 MEUR -> 420 MEUR, eps10e 0.48 EUR -> 0.60 EUR, rev11e 450 MEUR, eps11e 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
05/07/09 Unicredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

Member Avatar portefeuille (99.50) Submitted: 2/9/2010 1:05:10 AM
Recs: 0

02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09e 0.37 EUR -> 0.46 EUR, eps10e 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", 26.00 EUR -> 28.50 EUR, eps10e 0.48 EUR -> 0.66 EUR, eps11e 0.55 EUR -> 0.80 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.

Member Avatar portefeuille (99.50) Submitted: 3/14/2010 10:54:04 AM
Recs: 0

03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10e 0.66 EUR -> 1.11 EUR, eps11e 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10e 0.35 EUR -> 0.43 EUR, eps11e 0.58 EUR -> 0.63 EUR, eps12e 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10e 0.40 EUR -> 0.75 EUR, eps11e 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR.

Member Avatar portefeuille (99.50) Submitted: 3/16/2010 1:08:02 PM
Recs: 0

The eps consensus estimates are now around 1.16 EUR for 2010 and around 1.21 for 2011.
So the P/E using the current eps consensus estimate for 2011 and reducing the price per share by the estimate for "net cash per share at the end of 2010" is now below 20.

03/15/10 HSBC, still "overweight", 28.00 EUR -> 31.00 EUR.
03/15/10 WestLB, "add" -> "buy", 25.50 EUR -> 33.40 EUR.
03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10e 0.66 EUR -> 1.11 EUR, eps11e 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10e 0.35 EUR -> 0.43 EUR, eps11e 0.58 EUR -> 0.63 EUR, eps12e 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10e 0.40 EUR -> 0.75 EUR, eps11e 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR.
02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09e 0.37 EUR -> 0.46 EUR, eps10e 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", 26.00 EUR -> 28.50 EUR, eps10e 0.48 EUR -> 0.66 EUR, eps11e 0.55 EUR -> 0.80 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.
10/30/09 WGZ Bank, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10e 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00 EUR.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10e 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10e 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 UniCredit, "hold" -> "buy", 16.00 EUR -> 23.00 EUR, eps10e 0.53 EUR -> 0.72 EUR, eps11e 0.70 EUR -> 0.90 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10e 355 MEUR -> 420 MEUR, eps10e 0.48 EUR -> 0.60 EUR, rev11e 450 MEUR, eps11e 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 UniCredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

Member Avatar portefeuille (99.50) Submitted: 5/6/2010 6:06:35 AM
Recs: 0

update.

The average eps estimate is currently at around 1.41 EUR for 2010 and 1.55 for 2011.

05/04/10 HSBC, still "overweight", still 34.00 EUR.
05/03/10 Deutsche Bank, still "buy", 36.00 EUR -> 39.00 EUR.
05/03/10 AC Research, "accumulate" -> "buy".
05/03/10 Independent Research, still "buy", 34.00 EUR -> 37.00 EUR.
05/03/10 UniCredit, "buy" -> "hold", eps10 1.21 EUR -> 1.57 EUR, eps11 1.71 EUR -> 1.78 EUR, 30.00 EUR -> 25.00 EUR.
04/30/10 UBS, still "buy", 31.00 EUR -> 32.00 EUR.
04/30/10 Canaccord Adams, "buy" -> "hold", 40.00 USD -> 26.00 USD.
04/29/10 Close Brothers Seydler, still "buy", still 35.00 EUR.
04/29/10 Hamburger Sparkasse, still "buy".
04/22/10 HSBC, still "overweight", 31.00 EUR -> 34.00 EUR.
04/22/10 Close Brothers Seydler, still "buy", eps10 1.20 EUR, eps11 1.87 EUR.
04/22/10 AC Research, still "accumulate".
04/21/10 Goldman Sachs, still "neutral", eps10 0.95 EUR -> 1.37 EUR, eps11 1.25 EUR -> 1.55 EUR.
04/12/10 J.P. Morgan Cazenove, still "overweight", still 30.00 EUR.
04/07/10 Independent Research, still "buy", 31.00 EUR -> 34.00 EUR.
04/01/10 Deutsche Bank, still "buy", still 36.00 EUR.
04/01/10 UBS, "buy", 31.00 EUR.
03/17/10 Piper Jaffray, still "underweight", 18.00 EUR -> 21.00 EUR.
03/17/10 UniCredit, still "buy", eps10 0.78 EUR -> 1.21 EUR, eps11 0.99 EUR -> 1.71 EUR, 25.00 EUR -> 30.00 EUR.
03/17/10 Credit Suisse, still "neutral", eps10 1.14 EUR -> 1.47 EUR, eps11 0.98 EUR -> 1.12 EUR.
03/15/10 WestLB, "add" -> "buy", 25.50 EUR -> 33.40 EUR.
03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10 0.66 EUR -> 1.11 EUR, eps11 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10 0.35 EUR -> 0.43 EUR, eps11 0.58 EUR -> 0.63 EUR, eps12 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10 0.40 EUR -> 0.75 EUR, eps11 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR,
02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09 0.37 EUR -> 0.46 EUR, eps10 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", eps10 0.48 EUR -> 0.66 EUR, eps11 0.55 EUR -> 0.80 EUR, 26.00 EUR -> 28.50 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.10/30/09 WGZ Bank, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 UniCredit, "hold" -> "buy", eps10 0.53 EUR -> 0.72 EUR, eps11 0.70 EUR -> 0.90 EUR, 16.00 EUR -> 23.00 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10 355 MEUR -> 420 MEUR, eps10 0.48 EUR -> 0.60 EUR, rev11 450 MEUR, eps11 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 UniCredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

Member Avatar portefeuille (99.50) Submitted: 5/25/2010 11:38:47 AM
Recs: 0

Europe chip makers slashed at J.P. Morgan
http://www.marketwatch.com/story/europe-chip-makers-slashed-at-jp-morgan-2010-05-25

LONDON (MarketWatch) -- European chip stocks were downgraded by J.P. Morgan Cazenove, which argued that it's too risky to stay invested for the last potential leg of re-stocking. Euro weakness wil reduce demand for dollar-produced electronics, Chinese demand could slow in the second half on cooling measures, the strong build of TVs ahead of the World Cup could result in an inventory overhang and solar-related demand may soften on German subsidy cuts due July 1. Aixtron and Infineon Technologies were cut to neutral from overweight, and ARM Holdings was cut to underweight from neutral.

ANALYSE: JPMorgan senkt Infineon und Aixtron in Branchenstudie auf 'Neutral'

LONDON (dpa-AFX) - JPMorgan hat die Aktien von Infineon und Aixtron von 'Overweight' auf 'Neutral' abgestuft. Es sei zu riskant, für einen möglichen letzten Schritt vorwärts noch investiert zu bleiben, schrieb Analyst Sandeep Deshpande in einer Branchenstudie zu den europäischen Halbleiterunternehmen vom Dienstag. Er senkte darin sein Kursziel für den Chiphersteller von 6,50 auf 5,50 (Kurs:
4,248) Euro, das Ziel für den auf Leuchtdioden-Anlagen spezialisierten Maschinenbauer stampfte er von 30,00 auf 20,00 (Kurs: 20,00) Euro ein.
Deshpande geht davon aus, dass sich die Auftragsdynamik im zweiten Halbjahr verlangsamen wird. Zum Ende der Rezession habe die Erholung der Endnachfrage und die Aufstockung der Lagerbestände in der Zulieferkette die Auftragslage im Halbleiterbereich belebt. Nun seien die Lager aber wieder gefüllt. Zudem könnten der schwache Euro, abnehmende Nachfrage aus China, die vor der Fußball-WM hochgefahrene Fernseher-Produktion und bereits vorgezogene Aufträge aus der Solarbranche die Dynamik abschwächen. Noch lieferten die Lagerbestände allerdings keinen Anlass zur Besorgnis.
Mit der Abstufung von Aixtron greift Deshpande dieser möglichen Abschwächung der Auftragslage vor. Das zweite Quartal dürfte zwar noch robust ausfallen, das hohe Niveau auch im zweiten Halbjahr zu halten werde jedoch wie erläutert schwierig. Bei Infineon geht der Experte davon aus, dass die Marge im September-Quartal ihren Höhepunkt erreichen wird.
Gemäß der Einstufung 'Neutral' geht JPMorgan davon aus, dass sich die Aktie in den kommenden sechs bis zwölf Monaten im Gleichklang mit dem vom Analystenteam beobachteten Sektor entwickeln wird.

Member Avatar portefeuille (99.50) Submitted: 8/26/2010 10:51:35 PM
Recs: 0

update.

The average eps estimate is currently at around 1.76 EUR for 2010 and 1.92 EUR for 2011.

08/02/10 Independent Research, still "buy", 37.00 EUR -> 33.00 EUR.
08/02/10 Close Brothers Seydler, still "buy", eps10 1.77 EUR, still 35.00 EUR.
08/02/10 UniCredit, still "buy", eps10 1.57 EUR -> 1.75 EUR, eps11 1.71 still 2.08 EUR, 25.00 EUR -> 27.50 EUR.
07/30/10 UBS, still "buy", eps10 1.54 EUR -> 1.78 EUR, eps11 1.92 EUR -> 2.08 EUR, 32.00 EUR -> 31.00 EUR.
07/30/10 AC Research, still "buy", P/E2010e around 14.
07/28/10 Banc of America - Merrill Lynch Research, "buy", 32.00 EUR.
07/26/10 LB Baden-Württemberg, "buy", 26.00 -> 32.00 EUR.
07/13/10 Credit Suisse, still "neutral", still 26.00 EUR.
07/12/10 Goldman Sachs, still "neutral", 31.00 EUR -> 29.00 EUR.
07/08/10 Sterne Agee, "buy", 34.00 EUR.
06/30/10 Merriman Curhan Ford, still "neutral", eps10 1.50 EUR -> 1.63 EUR.
05/27/10 Commerzbank, "reduce" -> "hold", 23.00 EUR -> 21.00 EUR.
05/26/10 equinet, "accumulate" -> "buy", still 28.50 EUR.
05/25/10 J.P. Morgan Cazenove, "overweight" -> "neutral", 30.00 EUR -> 20.00 EUR.
05/04/10 HSBC, still "overweight", still 34.00 EUR.
05/03/10 Deutsche Bank, still "buy", 36.00 EUR -> 39.00 EUR.
05/03/10 AC Research, "accumulate" -> "buy".
05/03/10 Independent Research, still "buy", 34.00 EUR -> 37.00 EUR.
05/03/10 UniCredit, "buy" -> "hold", eps10 1.21 EUR -> 1.57 EUR, eps11 1.71 EUR -> 1.78 EUR, 30.00 EUR -> 25.00 EUR.
04/30/10 UBS, still "buy", 31.00 EUR -> 32.00 EUR.
04/30/10 Canaccord Adams, "buy" -> "hold", 40.00 USD -> 26.00 USD.
04/29/10 Close Brothers Seydler, still "buy", still 35.00 EUR.
04/29/10 Hamburger Sparkasse, still "buy".
04/22/10 HSBC, still "overweight", 31.00 EUR -> 34.00 EUR.
04/22/10 Close Brothers Seydler, still "buy", eps10 1.20 EUR, eps11 1.87 EUR.
04/22/10 AC Research, still "accumulate".
04/21/10 Goldman Sachs, still "neutral", eps10 0.95 EUR -> 1.37 EUR, eps11 1.25 EUR -> 1.55 EUR.
04/12/10 J.P. Morgan Cazenove, still "overweight", still 30.00 EUR.
04/07/10 Independent Research, still "buy", 31.00 EUR -> 34.00 EUR.
04/01/10 Deutsche Bank, still "buy", still 36.00 EUR.
04/01/10 UBS, "buy", 31.00 EUR.
03/17/10 Piper Jaffray, still "underweight", 18.00 EUR -> 21.00 EUR.
03/17/10 UniCredit, still "buy", eps10 0.78 EUR -> 1.21 EUR, eps11 0.99 EUR -> 1.71 EUR, 25.00 EUR -> 30.00 EUR.
03/17/10 Credit Suisse, still "neutral", eps10 1.14 EUR -> 1.47 EUR, eps11 0.98 EUR -> 1.12 EUR.
03/15/10 WestLB, "add" -> "buy", 25.50 EUR -> 33.40 EUR.
03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10 0.66 EUR -> 1.11 EUR, eps11 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10 0.35 EUR -> 0.43 EUR, eps11 0.58 EUR -> 0.63 EUR, eps12 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10 0.40 EUR -> 0.75 EUR, eps11 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR,
02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09 0.37 EUR -> 0.46 EUR, eps10 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", eps10 0.48 EUR -> 0.66 EUR, eps11 0.55 EUR -> 0.80 EUR, 26.00 EUR -> 28.50 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.10/30/09 WGZ Bank, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 UniCredit, "hold" -> "buy", eps10 0.53 EUR -> 0.72 EUR, eps11 0.70 EUR -> 0.90 EUR, 16.00 EUR -> 23.00 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10 355 MEUR -> 420 MEUR, eps10 0.48 EUR -> 0.60 EUR, rev11 450 MEUR, eps11 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 UniCredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

Member Avatar portefeuille (99.50) Submitted: 11/25/2010 1:08:06 PM
Recs: 0

currently 50 shares in my portfolio.

Member Avatar portefeuille (99.50) Submitted: 1/6/2011 2:09:20 PM
Recs: 0

currently 20 shares in my portfolio.

Member Avatar portefeuille (99.50) Submitted: 1/21/2011 11:12:20 PM
Recs: 0

update.

The average eps estimate is currently at around 1.96 EUR for 2010 and 2.10 EUR for 2011.

01/19/11 Commerzbank, still "buy", still 37.00 EUR.
01/18/11 Goldman Sachs, still "neutral", 29.00 EUR -> 42.00 EUR.
01/14/11 Banc of America Merrill Lynch, still "buy", 32.00 EUR -> 36.00 EUR.
01/13/11 Société Générale, "buy", eps10 1.75 EUR, eps11 2.06 EUR, 37.00 EUR.
08/02/10 Independent Research, still "buy", 37.00 EUR -> 33.00 EUR.
08/02/10 Close Brothers Seydler, still "buy", eps10 1.77 EUR, still 35.00 EUR.
08/02/10 UniCredit, still "buy", eps10 1.57 EUR -> 1.75 EUR, eps11 still 2.08 EUR, 25.00 EUR -> 27.50 EUR.
07/30/10 UBS, still "buy", eps10 1.54 EUR -> 1.78 EUR, eps11 1.92 EUR -> 2.08 EUR, 32.00 EUR -> 31.00 EUR.
07/30/10 AC Research, still "buy", P/E2010e around 14.
07/28/10 Banc of America Merrill Lynch, "buy", 32.00 EUR.
07/26/10 LB Baden-Württemberg, "buy", 26.00 -> 32.00 EUR.
07/13/10 Credit Suisse, still "neutral", still 26.00 EUR.
07/12/10 Goldman Sachs, still "neutral", 31.00 EUR -> 29.00 EUR.
07/08/10 Sterne Agee, "buy", 34.00 EUR.
06/30/10 Merriman Curhan Ford, still "neutral", eps10 1.50 EUR -> 1.63 EUR.
05/27/10 Commerzbank, "reduce" -> "hold", 23.00 EUR -> 21.00 EUR.
05/26/10 equinet, "accumulate" -> "buy", still 28.50 EUR.
05/25/10 J.P. Morgan Cazenove, "overweight" -> "neutral", 30.00 EUR -> 20.00 EUR.
05/04/10 HSBC, still "overweight", still 34.00 EUR.
05/03/10 Deutsche Bank, still "buy", 36.00 EUR -> 39.00 EUR.
05/03/10 AC Research, "accumulate" -> "buy".
05/03/10 Independent Research, still "buy", 34.00 EUR -> 37.00 EUR.
05/03/10 UniCredit, "buy" -> "hold", eps10 1.21 EUR -> 1.57 EUR, eps11 1.71 EUR -> 1.78 EUR, 30.00 EUR -> 25.00 EUR.
04/30/10 UBS, still "buy", 31.00 EUR -> 32.00 EUR.
04/30/10 Canaccord Adams, "buy" -> "hold", 40.00 USD -> 26.00 USD.
04/29/10 Close Brothers Seydler, still "buy", still 35.00 EUR.
04/29/10 Hamburger Sparkasse, still "buy".
04/22/10 HSBC, still "overweight", 31.00 EUR -> 34.00 EUR.
04/22/10 Close Brothers Seydler, still "buy", eps10 1.20 EUR, eps11 1.87 EUR.
04/22/10 AC Research, still "accumulate".
04/21/10 Goldman Sachs, still "neutral", eps10 0.95 EUR -> 1.37 EUR, eps11 1.25 EUR -> 1.55 EUR.
04/12/10 J.P. Morgan Cazenove, still "overweight", still 30.00 EUR.
04/07/10 Independent Research, still "buy", 31.00 EUR -> 34.00 EUR.
04/01/10 Deutsche Bank, still "buy", still 36.00 EUR.
04/01/10 UBS, "buy", 31.00 EUR.
03/17/10 Piper Jaffray, still "underweight", 18.00 EUR -> 21.00 EUR.
03/17/10 UniCredit, still "buy", eps10 0.78 EUR -> 1.21 EUR, eps11 0.99 EUR -> 1.71 EUR, 25.00 EUR -> 30.00 EUR.
03/17/10 Credit Suisse, still "neutral", eps10 1.14 EUR -> 1.47 EUR, eps11 0.98 EUR -> 1.12 EUR.
03/15/10 WestLB, "add" -> "buy", 25.50 EUR -> 33.40 EUR.
03/12/10 Deutsche Bank, still "buy", 30.00 EUR -> 36.00 EUR.
03/12/10 Cheuvreux, still "outperform", 32.00 EUR -> 39.00 EUR.
03/12/10 J.P. Morgan, still "overweight", 25.00 EUR -> 30.00 EUR.
03/11/10 Commerzbank, still "reduce", 20.00 EUR -> 23.00 EUR.
03/11/10 Independent Research, still "buy", eps10 0.66 EUR -> 1.11 EUR, eps11 0.80 EUR -> 1.31 EUR, 28.50 EUR ->31.00 EUR.
03/10/10 Hamburger Sparkasse, still "buy", "will raise target by 15%".
03/09/10 Deutsche Bank, still "buy", 28.00 EUR -> 30.00 EUR.
03/04/10 UniCredit, still "buy", still 25.00 EUR.
03/03/10 WestLB, still "add", eps10 0.35 EUR -> 0.43 EUR, eps11 0.58 EUR -> 0.63 EUR, eps12 0.78 EUR -> 0.85 EUR, 28.50 EUR ->31.00 EUR.24.00 EUR -> 25.50 EUR.
02/22/10 Credit Suisse, still "neutral", 18.00 EUR -> 23.00 EUR.
02/09/10 Close Brothers Seydler, "hold" -> "buy", eps10 0.40 EUR -> 0.75 EUR, eps11 0.49 EUR -> 0.93 EUR, 20.00 EUR -> 26.00 EUR,
02/08/10 HSBC, initiates with "overweight", 28.00 EUR, "no debt", "strong cash flow".
02/05/10 Lazard Capital initiates with "buy", 65.00 USD.
02/04/10 Merriman Curhan Ford, "buy" -> "neutral", eps09 0.37 EUR -> 0.46 EUR, eps10 0.85 EUR -> 1.05 EUR.
02/04/10 LB Baden-Württemberg, still "sell", still 18.00 EUR.
02/04/10 Independent Research, "hold" -> "buy", eps10 0.48 EUR -> 0.66 EUR, eps11 0.55 EUR -> 0.80 EUR, 26.00 EUR -> 28.50 EUR.
02/04/10 Hamburger Sparkasse, "still buy".
02/03/10 Commerzbank, still "reduce", 19.00 EUR -> 20.00 EUR.
02/03/10 equinet, still "buy".
01/13/10 Goldman Sachs, still "neutral", still 25.00 EUR.
01/11/10 J.P. Morgan, still "overweight", still 25.00 EUR.
12/22/09 AC Research, still "accumulate".
12/14/09 Deutsche Bank, still "buy", still 28.00 EUR.
11/11/09 WestLB, "buy" -> "add", 24.30 -> 24.00.10/30/09 WGZ Bank, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR.
10/30/09 Exane BNP Paribas, "neutral" -> "outperform", 12.30 EUR -> 27.00.
10/30/09 Independent Research, still "buy", eps09e 0.24 EUR -> 0.36 EUR, eps10 0.30 EUR -> 0.48 EUR, 24.00 EUR.
10/30/09 equinet, "accumulate" -> "buy", 25.00 EUR -> 24.00 EUR.
10/30/09 JPMorgan, still "overweight", 25.00 EUR.
10/29/09 Close Brothers Seydler, "sell" -> "hold", eps09e 0.22 EUR -> 0.38 EUR, eps10 0.30 EUR -> 0.40 EUR, 9.90 EUR -> 20.00 EUR.
10/29/09 Hamburger Sparkasse, "hold" -> "buy".
10/29/09 Commerzbank, still "reduce", 18.40 EUR.
10/29/09 UniCredit, "hold" -> "buy", eps10 0.53 EUR -> 0.72 EUR, eps11 0.70 EUR -> 0.90 EUR, 16.00 EUR -> 23.00 EUR.
10/29/09 SES Research, still "hold", 10.00 EUR -> 17.50 EUR.
10/29/09 equinet AG, still "accumulate", 25.00 EUR.
10/29/09 WestLB, still "buy", 24.30 EUR.
10/13/09 Deutsche Bank, still "buy", 16.50 EUR -> 26.00 EUR.
10/12/09 WestLB, "add" -> "buy", 17.80 EUR -> 24.30 EUR.
10/09/09 Merriman Curhan Ford, still "buy", rev10 355 MEUR -> 420 MEUR, eps10 0.48 EUR -> 0.60 EUR, rev11 450 MEUR, eps11 0.65 EUR.
09/30/09 Close Brothers Seydler, "hold" -> "sell", eps09e 0.22 EUR, still 11.00 EUR.
09/29/09 JPMorgan, still "overweight", 20.00 EUR -> 25.00 EUR.
09/29/09 Hamburger Sparkasse, "hold" -> "sell".
08/18/09 WGZ Bank, "reduce" -> "accumulate", 11.50 EUR -> 14.00 EUR.
05/07/09 UniCredit, "hold" -> "buy", 4.00 EUR -> 8.00 EUR.

Member Avatar portefeuille (99.50) Submitted: 1/22/2011 6:13:54 PM
Recs: 0

I no longer update my portfolio positions.

Featured Broker Partners


Advertisement