Aixtron SE (AIXA), a German manufacturer of production equipment for semiconductor and lighting makers, rose the most in almost two weeks as Siemens AG (SIE)’s Osram unit was said to plan to build a factory in China for light-emitting diodes.
Aixtron (AIXA) rose as much as 3.8 percent to 13.49 euros, the biggest intraday jump since March 23, and was trading 2.7 percent higher at 1:26 p.m. in Frankfurt. The gain was the fourth-biggest on the 30-stock TecDAX index of German technology companies.
Osram is drafting plans for its first plant to manufacture LEDs in China, two people familiar with the project said. The facility would fill a gap for Osram in China, the world’s largest lighting market, where the Munich-based company has no LED production.
“The news is another piece of evidence that the general LED lighting market will noticeably increase next year,” said Tim Oliver Wunderlich, an analyst at Hauck & Aufhaeuser Institutional Research AG in Hamburg. “Osram is a customer of Aixtron, so this may well lead to some orders.” Wunderlich recommends clients buy Aixtron stock and estimates the Herzogenrath-based company’s shares will rise to 15 euros within a year.
To contact the editor responsible for this story: Benedikt Kammel at firstname.lastname@example.org