Added to YB: 2026-08-20
Pitch date: 2026-08-17
WAF.DE [bullish]
Siltronic AG
-25.66%
current return
Author Info
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Company Info
Siltronic AG, together with its subsidiaries, develops, produces, markets, and sells hyperpure silicon wafers for the semiconductor industry in Germany, Rest of Europe, the United States, Taiwan, Mainland China, South Korea, Rest of Asia, and internationally.
Market Cap
EUR 2.3B
Pitch Price
EUR 87.70
Price Target
115.00 (+76%)
Dividend
N/A
EV/EBITDA
12.32
P/E
-12.01
EV/Sales
2.53
Sector
Semiconductors and Semiconductor Equipment
Category
value
Siltronic: Every AI Chip Starts Here
WAF.DE: German silicon wafer maker, only Western player in 5-firm oligopoly (90% share). €500m depreciation locks reported losses through 2028, masking cash inflection: volumes turning, spot prices rising, capex crashing to €200m. 7x 2028 EBITDA, EV≈book PP&E. Lowest contract coverage=most spot torque. PT €115 (24-30mo). Risks: recovery stalls, pricing pinned, dilution, FX.
Read full article (24 min)