2 months ago
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February 4, 2025 at 3:43 AM EST
Siltronic AG shares plunged after the company cut its dividend and delayed 2028 targets, citing weak demand from chipmaking customers.
The stock fell as much as 12% in German trading, the biggest intraday drop in almost two years. The maker of silicon wafers for the semiconductor industry slashed its dividend to €0.2 per share from the €1.2 per share it paid in 2023, it said in a statement. The company’s target of sales of more than €2.2 billion ($2.3 billion) and an Ebitda margin in the high 30s by 2028 was also delayed.
