Report
Frederic Yoboue

Semiconductors & Hardware: Top Picks 3Q20: ASM International

Semiconductors & Hardware
Top Picks 3Q20: ASM International

Strong share price performance over Q2 2020
Chip sales are trading higher but don’t jump to conclusions yet
Two parameters entering in H2: computing and smartphones
ASMI is our Top Picks for the quarter
Adjustments in our Fair Values
Underlying
ASM International N.V.

ASM International is an equipment supplier mainly to the semiconductor manufacturing industry. Co. designs, manufactures and sells equipment and services to its customers for the production of semiconductor devices, or integrated circuits. Co.'s front-end segment manufactures and sells equipment used in wafer processing, encompassing the fabrication steps in which silicon wafers are layered with semiconductor devices. Co.'s back-end segment manufactures and sells equipment and materials used in assembly and packaging, encompassing the processes in which silicon wafers are separated into individual circuits and subsequently assembled, packaged and tested.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Frederic Yoboue

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