Business · Markets · 4 hrs ago
AT&S shares fall by half after rising more than 240% this year
AT&S shares have fallen by half since early October, after gaining more than 240% since the start of 2026.
The company, based in Leoben, Austria, makes circuit boards and substrates used in the semiconductor industry.
New data centres have boosted demand for its products, and business in the United States helped drive record sales.
Despite its best quarter in company history, investors have grown more doubtful amid concerns about US political prospects and a worsening liquidity measure.
A Deutsche Bank analyst also cut the share-price target by 160 euros.
Finance chief Gerrit Steen remains confident in the company, while the shares trade at about 115 euros, their lowest level since early May.
AT&S shares have fallen by about half since early October, despite rising more than 240% since the start of 2026.
The Austrian circuit-board and substrate maker reported the best quarter in its history the previous Thursday.
The sell-off has been linked to concerns about US political prospects for the semiconductor sector, a weakening liquidity indicator and a sharp analyst price-target cut.
Finance chief Gerrit Steen defended the company’s outlook, while the shares traded at about 115 euros.
- Who
- AT&S, an Austrian circuit-board and substrate maker.
- What
- Its shares have lost about half their value since early October after rising more than 240% since the start of the year.
- When
- The fall has taken place since early October 2026. The shares dropped 18.6% on 22 October.
- Where
- AT&S is based in Leoben, in Austria’s Styria region; its shares are listed in Vienna.
- Why
- Investors were concerned about US political prospects for the semiconductor sector, a weakening liquidity indicator and a Deutsche Bank analyst’s price-target cut.
Investors and financial experts
AT&S finance chief Gerrit Steen
Investor concerns
Investors and financial experts
Investors and financial experts questioned the share’s prospects amid political uncertainty in the US, a weaker liquidity indicator and an analyst’s sharp price-target cut.
AT&S finance chief Gerrit Steen
Steen defended the company and showed confidence, despite the share-price decline.
The share price reached a high of about 240 euros.
The share price had fallen by half from its mid-June high.
The share price had almost fully recovered before falling sharply again.
AT&S shares fell 18.6% in a day as investors across Europe sold technology stocks.
- Year-to-date rise
- More than 240%
- Share-price fall
- About half since early October
- Current share price
- About 115 euros
- One-day decline
- 18.6% on 22 October
- Analyst price-target cut
- 160 euros by a Deutsche Bank analyst