Professional
Added to YB: 2024-10-03
Pitch date: 2024-10-01
XFAB.PA [bullish]
X-FAB Silicon Foundries SE
+3.54%
current return
Author Info
Night Watch Investment Management is an alternative asset manager focused on global equities, selected based on our in-depth proprietary research. Our investment style is best described as value plus catalyst. Visit their website.
Company Info
X-FAB Silicon Foundries SE develops, produces, and sells analog/mixed-signal IC, micro-electro-mechanical systems, and silicon carbide products for automotive, medical, industrial, communication, and consumer sectors in the Europe, the United States, Asia, and internationally.
Market Cap
EUR 980.3M
Pitch Price
EUR 5.08
Price Target
30.42 (+477%)
Dividend
N/A
EV/EBITDA
6.85
P/E
46.48
EV/Sales
1.52
Sector
Semiconductors and Semiconductor Equipment
Category
value
Night Watch Investment Management Portfolio Holding: X-FAB Silicon Foundries SE
XFAB.PA: Analog chip foundry for auto/industrial/medical. 14-16% CAGR in chips/car. 90% sole supplier, sticky demand. 7x 2024E P/E vs peers 15-23x. $1.2B upgrade to double earnings. Customers prepaid $350M. Semis bottoming, Q1-Q3 book-to-bill 1.2x. EV slowdown offset by China/hybrids. 50% insider owned. Catalysts for 4-6x upside.
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