ASM International N.V : Excellent quarter, the outperformance continues – target price increased to € 80 (vs € 65)
>Q2 results top forecasts - Excluding the positive € 103m impact from the settlement of a dispute announced on 1 July, sales amounted to € 260m, up 5% sequentially, beating the consensus forecast of € 240m and the guidance of € 230-250m. The gross margin excluding the one-off came to 42.8% (59% with the one-off) versus the consensus forecast of 41%. Operating profit came to € 47m (€ 150m with the one-off), beating the consensus forecast of € 41.7m. This resulted in a...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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