ASM International N.V : The debate about what H2 will look like should not mask the structural growth story
>Outperform rating maintained, we remain very confident - Following ASMi’s Q4 2020 results (initial reaction FR / EN) and the conference call on Friday, we maintain our Outperform rating. The numbers exceeded expectations, particularly on orders, which showed sequential growth of 25%, reflecting excellent momentum in the industry. The stock’s reaction (-1.8% at the end of session having started it at -4% and a brief spell in positive territory) has more to do with th...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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