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)
(Reporting by Nathan Vifflin in Amsterdam)
((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))
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