AT&S: Nach Kurssturz noch 240 Prozent im Plus: Finanzchef verteidigt Österreichs Achterbahn-Aktie

AT&S, a Leoben-based Austrian manufacturer of semiconductor substrates, has seen its stock price soar by over 240% since the beginning of the year, despite a halving of its stock price since early October. This sharp decline has puzzled investors and financial experts, who point to several developments as reasons for doubt. These include political outlooks in the United States, which have recently strained the semiconductor industry and its suppliers, a negative liquidity indicator, and a drastic reduction in analyst target prices by Deutsche Bank, down 160 euros.

AT&S Finance Director Gerrit Steen remains confident in the company's prospects, citing the construction of new data centers and strong relationships in the United States as major contributing factors. The company recorded nearly €682 million in revenue between July and September, a 52% increase from the previous year. Additionally, AT&S saw an operating profit of over €125 million, with semiconductor substrates for AI chips driving much of the business.

However, the poor industry sentiment at the Nasdaq, the US semiconductor index's decline by more than 12%, and the Democratic Party's victory in both chambers of Congress have overshadowed these positive quarter figures. While major US semiconductor companies like AMD and Marvell have largely recovered, AT&S has not. Deutsche Bank analyst George Brown affirmed his buy recommendation but reduced the target price from €380 to €220, nearly double the current stock price.

Despite this, Steen remains optimistic, citing long-term contracts with AMD, Intel, and Marvell, as well as new agreements. He attributes the turbulence in stock price to market nervousness and believes the company's investment of over €1 billion in new facilities and expansion, including in Malaysia and China, will secure its position in the European market.