Oct 31 (Reuters) - Aixtron reported on

Thursday a strong order intake for the third quarter, even as

the German chip systems manufacturer's quarterly core profit

missed market expectations.

The company, which supplies deposition equipment for

chipmakers, said its order intake was 143.5 million euros ($156

million), up 21% from 118.5 million euros a year earlier.

The group's earnings before interest and taxes (EBIT) fell

17% year-on-year to 37.5 million euros in the quarter, missing

analysts' average estimate of 42.7 million euros in a

company-provided poll.

Chip stocks have been under pressure after the U.S.

government's tighter restrictions on exports of chip equipment

to China and uncertainty over the U.S. presidential election

made investors cautious. Weak demand for automotive, personal

computer and memory chips has been only partially offset by

increased demand for AI chips.

"Order intake in Q3 of 143.5 million is down vs the Q2 level

of 176 million euros. The sequential drop is expected, it is

below consensus of 159 million euros but we believe still solid

in the current weak environment," Stifel analyst Juergen Wagner

said in a note.

"We believe this explicit and early guidance for next year

should be taken well by the market, which has been cutting FY25

consensus in recent weeks given ongoing weakness in the electric

vehicle (EV) and silicon carbide (SiC) market," analysts from

Jefferies said in a note.

They continue to believe Aixtron is well-positioned for an

eventual recovery in the silicon carbide market due to its

leading market share.

Aixtron said that it expects 2025 revenue near the level of

fiscal year 2024 or slightly below.

"We see this release as better than some could have feared

and 2025 revenue comments did not come as a surprise for us,"

analyst Martin Marandon-Carlhian at ODDO BHF told Reuters.

The company also confirmed its full-year guidance for 2024,

expecting revenue to be in a range of 620 million to 660 million

euros.

($1 = 0.9212 euros)

(Reporting by Ozan Ergenay, editing by Thomas Escritt and

Emelia Sithole-Matarise)