Semiconductor wafer supplier Soitec withdraws full-year, medium term guidance

AMSTERDAM, May 27 (Reuters) - French semiconductor materials supplier Soitec SOIT.PA on Tuesday withdrew forecast targets for its new fiscal year and the medium term, following a multi-year slump in automotive and industrial chip demand.

The group will only guide on a quarterly basis, it said in a statement, citing poor visibility and uncertainty across all of its markets.

It expects first-quarter revenue to fall 20% year-on-year at constant exchange rates, against the 121 million euros ($137.1 million) it reported last year.

($1 = 0.8828 euros)