Aixtron purpose of this thread

For the time being this forum is closed to keep users that do not contribute essential news around the stock, the market opportunity or messages related to it out.

Please be friendly to eachother and keep political discussions out.

Thank you
  baggo-mh

 

STMicroelectronics to build the world’s first fully integrated silicon carbide facility in Italy
STMicroelectronics N.V.
Fri, May 31, 2024, 2:14 AM EDT4 min read

"... including SiC substrate development, epitaxial growth processes, 200mm front-end wafer fabrication "

https://finance.yahoo.com/news/...ld-world-first-fully-061400783.html  

Recently, the Chongqing silicon carbide epitaxy and chip project jointly built by Sanan and STMicroelectronics has made new progress.

According to the Hunan Liujian Huaxi Company, on May 18, the 8-inch silicon carbide epitaxial and chip project (living service facility area) of STMicroelectronics was fully capped . The project started in November 2023, with a construction period of 257 days and a total construction area of ​​37,000 square meters. It mainly includes four dormitory buildings A1 to A4 and Building C1 (canteen and activity center).

Just last month (April), STMicroelectronics' 8-inch silicon carbide epitaxial and chip project announced that the main structure had been topped out and is currently advancing interior decoration and equipment procurement. It is expected to be put into production in August this year , two months ahead of schedule.

According to a previous report by "Experts Talk about Three and a Half Generations", the project is jointly built by Hunan San'an (51% stake) and STMicroelectronics (49% stake), with a total investment of approximately RMB 23 billion . After the entire plant is completed, it will be able to produce 520,000 automotive-grade SiC MOSFET chips annually.

https://www.eet-china.com/mp/a317092.html  

This is from an unkonwn company in Chhongqing where the JV resides.

SiC Epitaxy Development Engineer

Chongqing   5-10 years Undergraduate

Job Description: 1. Research and develop epitaxial growth process according to the epitaxial structure design of SiC devices; 2. Participate in the research, selection, move in, secondary matching, installation and equipment acceptance of epitaxial equipment, release production capacity in time within the required time and ensure that the new equipment meets the process requirements...

Job Requirements: 1. ... 4. Those with epitaxial R&D experience of AIXTRON G5+ MOCVD machine are preferred;...

 

nice info, thanks!
but the "stock problem" is that the stocks of the customers will mostly perform better than Aixtron the supplier.

Aixtron will sell x y machines. as i understood they tend to run for a minimum of 5-10 years. so Aixtron at some point will have to decide if they might try to enter new segments  ( fingers crossed MircoLED will work ) because the customer will always be able to make profit of the machines while Aixtron can only calculate on Service fees etc.  

we shouldnt forget that Aixtron SiC is very much connected with EV (Aixtrons customers) so as long there are negative views on the development of the EV market ( new taxes/customs for china aso. ) Aixtron wont perform well. The MicroLED fantasy vanished.  

www.ad-hoc-news.de/boerse/news/ueberblick/...tionsstaette-in/65283575  

CWL1 schon einen Bezug zu STM herstellen können - wenn auch anecdotal. I love your anecdotes CWL1 but ran out of stars to honor it. More please if you can.

Am 31.05.: läuft das über die Ticker: https://www.finanznachrichten.de/...carbide-facility-in-italy-020.htm

Am Montag darauf 3.6. gibt Aixtron den Erwerb einer Produktionsstätte in Italien bekannt.  "The plant, which is expected to be the world's first fully integrated silicon carbide facility, will be built under the company's projected 5 billion euros multi-year investment program, including 2 billion euros support provided by the State of Italy in the framework of the EU Chips Act.

Ich vermute, dass die Subventionen nur in voller Höhe gezahlt werden, wenn die benötigten Maschinen das Label - Made in Italy - tragen.

So würde es für mich Sinn ergeben was Aixtron gerade macht. Man darf nicht vergessen, dass
- Aixtron den 3ten Top 5 SiC Customer namentlich nicht bekanntgeben hat.
- San'an und STM gerade eine 200mm (materials = wafer) Produktion in China aus dem Boden stampfen

Schaun mer mal

Gruß
 baggo-mh

 

Navitas ist bekannlich Aixtron Kunde.

https://www.leistungselektronik.de/...fcf93080d2e3c13cb9eb8e1003ef8f/

Gruß
baggo-mh

 

Aixtron acquires a third production site at a bargain price; BUY

Acquisition of production site in Italy. Aixtron announced the acquisition of a production site near Turin from an undisclosed seller, adding to its existing production sites in Herzogenrath (Germany) and Cambridge (UK). The site is an existing facility with the necessary utilities. Aixtron's production is very lean, consisting mainly of assembly and intensive testing, so production at the new site can be ramped up quickly, with the first tools possibly being shipped later this year. The new site will enable Aixtron to increase capacity by 30-40% in a short period of time, with further capacity expansion possible in the future with relatively low capital investment. All of Aixtron's tools can be built at the new site, and Aixtron expects to ship a significant portion of its production from there within two to three years.

Attractive purchase price. Aixtron earlier this year guided for capex of EUR 100m to 120m for FY24. The capex to acquire the site and get it ready for production, estimated at very low double digit million Euro figure, according to the company is included in this number. Aixtron has not disclosed whether the new site will be supported by subsidy schemes. However, STMicroelectronics this week announced plans to build a new factory in Catania, Italy, at an expected cost of EUR 5bn, with subsidies under the EU Chips Act expected to cover EUR 2bn of the total bill. It would be surprising if Aixtron's investment did not also benefit from subsidies.

https://www.research-hub.de/companies/AIXTRON%2520SE

Greetings
baggo-mh

 

onsemi Unveils Complete Power Solution to Improve Energy Efficiency for Data Centers

based on SiC MOSFET

ONsemi ist Aixtron Kunde

https://investor.onsemi.com/news-releases/news-release-details/onsemi-unveils-complete-power-solution-improve-energy-efficiency

Felix Grawert hatte auf dieses Nutzungsfeld in 2023 schon hingewiesen.

Gruß
baggo-mh.

 

jetzt $ 260 - Kurs Applied Materials aktuell $ 220 und 4% im Plus.

Könnte der Grund für den Anstieg bei Aixtron sein.

Gruß
 baggo-mh

 

ProAsia boosts mass production of SiC with 3Q24 first batch delivery
Siu Han, Taipei; Heidi Yin-Hsuan Tai, DIGITIMES Asia
Friday 7 June 2024

https://www.digitimes.com/news/a20240607PD200/...a-semiconductor.html  

Interesting piece written by my favorite Seeking Alpha Contributor:

https://seekingalpha.com/article/...ixtron-could-be-worth-a-look-now?  

Hi all,
My apologies for the lack of activity here. I will improve.
More important: I remain fully convinced and invested, although the uncertainty from SIC is clearly causing some volatility. The question is if we have to dial back order intake assumptions for H2 and get an update on this/revenue guidance with Q2.. if so, this would see the stock go down another 10% or so I think but then a lot is priced in at the current valuation and share price performance.
Mid-term I remain highly convinced: EVs will recover, driving improved sentiment around SIC (and the entire sub sector including OnSemi, STM, Infineon etc) and GAN will certainly find its ways into data centres (look at Renesas below and what Infineon recently talked about their Datacenter business). Micro LED remains a positive wild card.

The Italy site acquisition also makes STM a very likely large and next customer, but that is just my speculation and I have no incremental evidence for this.

Nevertheless I wanted to share interesting slides from the recent Renesas CMD, in particular on the power side, see slides on the link here. https://www.renesas.com/us/en/document/ppt/...051457451&r=1320481


They are by the way just ramping their first SIC site.. if we are lucky Aixtron might get some incremental orders from this in Q2/Q3 or already had in Q 1 (I remember Management talking about some wins in JP with the Q1 call if I am not mistaken).  

I also wanted to share this discussion with the ONsemi CEO very recently. It is worth a listen from
Minute 15 onwards. Highly convinced of SIC future and that this is more a short term drag at the moment, not a structural one:

https://qcast.page.link/5ypFbVrzPWCNZLUW6

Regards,
Fel  

https://www.aixtron.com/investoren/events/...genda%2520Item%25209.pdf  

Executive Board Report on Agenda Item 9 as per Art. 9 para. 1
lit. c) ii) SE Regulation in connection with section 71 para. 1 no.
8 sentence 5; section 186 para. 3 sentence 4; para. 4 sentence
2 German Stock Corporation Act (Aktiengesetz, “AktG”)
- Translation for Convenience Purposes -
The resolution adopted by the Annual General Meeting of 16 May 2018 under Agenda Item 8
provided for an authorization to purchase and use treasury shares. This authorization has not
been used. The authorization is valid until 15 May 2023 and thus will expire before the intended
date on which the Annual General Meeting in 2023 shall be held. For this reason, and to
maintain flexibility regarding the purchase and the use of treasury shares, a new authorization
for the purchase and the use of treasury shares in accordance with section 71 para. 1 no. 8 AktG
with the option to exclude subscription rights, shall be resolved while revoking the already
existing authorization dated 16 May 2018.
At the time of convening the Annual General Meeting, the company holds 1,084,105 treasury
shares.
The proposed resolution on Agenda Item 9 provides that the company, pursuant to section 71
para. 1 no. 8 AktG, be authorized to acquire own shares up until 24 May 2027 of in total 10
percent of the share capital that exists at the time of the adoption of the resolution  

Innoscience plans to use the net proceeds from the IPO for the following projects:
1. 50.0% will be used to expand the production capacity of 8-inch gallium nitride wafers (from 10,000 wafers per month as of December 31, 2023 to 70,000 wafers per month in the next five years), purchase and upgrade production equipment and machines, and recruit production personnel....  

After a meeting with the management analyst M. Kuhn keeps Buy vote with target 33:
Outlook is better than the sentiment right now. However, no uptick of the business in short term expected.

To me this translates for Q2: we aim for the lower range of the annual target with confirmation for better outlook for next year. I hope this is already priced in and the stock won't dip.

https://www.ariva.de/news/...-belsst-aixtron-auf-buy-ziel-33-11277545


 

Infineon Achieves Milestone with Kulim 200mm SiC Fab Phase 1 Completion
 
June 13, 2024

Infineon Technologies has reached a significant milestone by completing the first phase of its 200mm Silicon Carbide (SiC) power fab in Kulim, Malaysia. This achievement marks a crucial step forward in the company's strategic plans for expanding its production capabilities.

With the official opening of the Kulim 3 fab module scheduled for August, Infineon aims to commence SiC production by the end of 2024. The fab's establishment is a key component of a $100 billion initiative by the Malaysian government to enhance chip manufacturing within the country, positioning Malaysia as a prominent player in the global semiconductor industry.

The installation of production tools for the SiC lines is currently underway, with the fab being designed to accommodate the requirements of newer tool types, varying volumes, and evolving structural specifications. This adaptability underscores Infineon's commitment to staying at the forefront of technological advancements and meeting the demands of a dynamic market.

Infineon is set to engage in a competitive battle with Wolfspeed for the distinction of operating the world's largest 200mm fab. While specific details regarding planned capacity remain undisclosed by both companies, the rivalry between Infineon and Wolfspeed adds an element of excitement to the semiconductor landscape, driving innovation and progress within the industry.

Furthermore, the recent approval of funding for the world's inaugural integrated SiC wafer plant and volume fab by ST Microelectronics in Catania, Italy, following the successful installation of a pilot line, signifies a broader trend towards the advancement of SiC technology on a global scale. This development highlights the growing significance of SiC in enabling next-generation electronic devices and systems.

https://hardwarebee.com/electronic-breaking-news/...ase-1-completion/  

Morning all,
Another tough day for Aixtron shareholders today on no news, maybe tech is broadly hit after SMA warning and stock -30%? Infineon also down -3% or so.
It just shows the worries/uncertainty around Aixtron after being a darling for the last 2-3 years.. we have an „airpocket“ year with weak SIC orders and GAN probably also having some digestion. The lack of visibility for a bottom in demand is the problem.. we need to see order intake growing again and that will not happen with Q2 given the very high comps base.

BUT I think the majority of this is priced in (I have been arguing that as well when the stock was at € 24) and have been proven wrong. The question is a) will SIC/GAN continue to proliferate? I think yes. Next question is what is the right multiple to pay for 2025 EBIT? Or what is the right multiple to put on a weak 2024 EBIT? I think historically the stock traded at around 20x EBIT , today is at 13.5x 2024 estimates. Even if they are too high (which I doubt) another -10% estimate cut is well priced in here..

Let’s see at which price buyers step back in, I certainly continue to trust in the story, why else should management (that continuesly delivered over the last years) decide to buy a new production site in Italy..

Regards,
Fel  

Qualtiätsunternehmen  in massiven Absturz. Das ist unfassbar. Ob wir noch die 10 € sehen werden bei diesen Tempo des absturzes ?? Was sagt eigentlich Aixtron dazu???  

https://www.deraktionaer.de/artikel/aktien/aixtron-aktie-im-freien-fall-was-ist-da-los--20359849.html

à plus

Jossy

 

https://www.finanzen.net/nachricht/aktien/...gewinnmitnahmen-13617281

 

bon week-end

Jossy