ASML: Oddo likes stock

(CercleFinance.com) - The World Semiconductor Trade Statistics (WSTS) released its March 2021 global semiconductor sales figures last night.


In smoothed data (3-month moving average), they come out at 41 billion dollars, in line with the broker's forecast. Annual growth was therefore 17.8%, accelerating from February's 14.4%, Oddo says, adding that sequentially, sales increased by 3.7%.

Excluding memory sales, the market continues to accelerate at +19.7% vs. +16.9% in February, after bottoming out at 0% in May/June 2020.

The analyst remains positive about most sector stocks, particularly regarding equipment manufacturers (ASML and ASMi), which will continue to benefit from technological spending, although the broker is more cautious on BESI, whose structural nature remains to be proven.

The broker says that it is playing automotive exposure, via Infineon and STMicroelectronics, while amongst midcaps, it has Outperform ratings on Soitec, ams and Aixtron. Finally, it is cautious towards Melexis and X-FAB.


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