Aixtron: Incomprehensible price decline

In the third quarter, Aixtron reports incoming orders of 70.8 million euros, in the second quarter it was 69.6 million euros. A year ago the order intake was 52.2 million euros. Turnover goes up by 22 percent to 64.1 million euros. The net earnings are 7.1 million euros (previous quarter: 3.3 million euros).

Incoming orders are expected to be between EUR 270 million and EUR 300 million in 2020 (old: EUR 260 million to EUR 280 million). Aixtron assumes a turnover between 260 million euros and 280 million euros. Previously, it was estimated at between EUR 260 million and EUR 300 million. The EBIT margin is seen at 10 percent to 15 percent.

According to these figures, the analysts at DZ Bank confirm the buy recommendation for the shares of Aixtron. The price target remains unchanged at EUR 13.00.

The experts are expecting earnings per share of EUR 0.31 for the current year, and EUR 0.44 for 2021. There should be no dividend.

The shares of Aixtron lose 17.6 percent to 8.98 euros according to the figures. The analysts cannot understand this minus. Rather, growth could even accelerate from 2021 due to several factors. Among other things, 5G and electromobility are mentioned.


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