ASM International N.V : 2020 was merely one step, we remain very optimistic on 2021
>Buy rating reiterated, the re-rating is set to continue thanks to good momentum on ASMi’s markets - In 2020, ASMi significantly outperformed the sector (best performance in our European sample), with a gain of 79% vs 47% for the Soxx. In our view, there is no reason for the re-rating to end in 2021, as: 1/ spending by semiconductor manufacturers should increase further, not only by major foundries (both TSMC and Samsung) but also by memory manufacturers (Samsung, bu...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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