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STMicro: Oddo still a buyer after WSTS figures

( - World semiconductor sales for August 2021 were published at the weekend by the World Semiconductor Trade Statistics (WSTS).

In smoothed data (3-month moving averages), they come out at 47.2 billion dollars, slightly higher than Oddo's forecast of 46.7 billion dollars.

This represents an acceleration in annual growth to +29.7%, from +29.6% in July. On a sequential basis, sales increased by 9.2% vs. a 20-year average of +6.2% in August, which is clearly above average seasonality, the analyst said.

With this publication, analysts confirm their forecast of market growth of close to 25% and potentially even slightly more, after 7% in 2020, the broker adds.

The analyst favours stocks that have their own drivers or which are exposed to structural growth trends, notably OEMs (ASML, ASMi and now BESI) which will continue to benefit from technology spending.

Analysts are also interested in players with exposure to the automobile sector, via IFX and STM, while amongst Midcaps, they are buyers of Soitec, Elmos and Aixtron, while are cautious towards Melexis, ams and X-FAB.

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