ASM International N.V : Another excellent quarter, the strength of demand in logic/foundry markets is extending to H1 2020 – target price raised to € 110 from € 95
>Q3 2019 results slightly better than expected, but orders again well ahead of expectations - Q3 2019 revenue came in at € 271.2m, up 4% q-o-q and 39% y-o-y. This is well ahead of the consensus of € 261.6m (ODDO BHF at € 260m) and the guidance of € 250-270m. The gross margin came to 42.4% vs a consensus of 42%. Operating profit came to € 50.6m, broadly in line with the consensus of € 50m. This gives an operating margin of 18.7% (vs 19.1% for the consensus). Adjusted n...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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