FRANKFURT (dpa-AFX) - Shares in Suess Microtec took a recovery course on Friday after heavy losses the previous day. After plummeting by just over eleven percent by the close of trading on Thursday to their lowest level since mid-May, the chip supplier's shares now climbed 7.4 percent to 23.35 euros on the SDax. Late Thursday afternoon, Suess Microtec had shocked its investors with a forecast reduction.

The share price reaction to the profit warning appears to have been exaggerated, commented analyst Jonah Emerson from the private bank Hauck und Aufhäuser. The reason for this was the business development of Micro-Optics, which is not part of the core business of the semiconductor industry equipment supplier. At the same time, Emerson still considers Suess Microtec's short- and medium-term growth prospects and margin potential attractive, not least because of its involvement in the artificial intelligence sector. However, he lowered his estimates to reflect the new targets.

As a result of the share price slide on Thursday, Suess Microtec had slumped below the 21- and 50-day moving average lines, which signal the short- and medium-term trend, on the previous day. The stock had not yet made it back above these chart hurdles on Friday.

Suess Microtec had said it was weak business in micro-optics that had thwarted its 2023 business plans. As a result, group sales will probably only reach 320 to 340 million euros instead of 320 to 360 million, it said Thursday. In addition, only 9 to 11 percent of sales are likely to remain as operating profit (Ebit). Previously, 10 to 12 percent had been forecast./ck/bek/zb