BE Semiconductor Industries : A buy opportunity after an excessive stock market sanction
>Outperform rating reiterated, target price lowered to € 200 (vs € 215) - BESI’s share price was down 14% yesterday due to Q3 guidance that was weaker than expected. This prompts us to revise down our forecasts for EPS by 16% and 9% for 2024 and 2025 and adjust our target price to € 200 (€ 215). However, we think that the stock market sanction was too severe, as: 1/ even if the cyclical recovery is delayed, it has not been called into question (orders have already reb...BE Semiconductor Industries N.V. (Besi) is a holding company. The Company is engaged in the development, manufacturing, marketing, sales and service of semiconductor assembly equipment for the global semiconductor and electronics industries. It operates through three segments: Die Attach, Packaging and Plating. It develops assembly processes and equipment for leadframe, substrate and wafer level packaging applications in a range of end user markets, including electronics, computer, automotive, industrial and solar energy. The Company offers products, such as Die attach equipment, which include single chip, multi-chip, multi module, flip chip, thermo-compression bonding (TCB) and enhanced wafer level ball grid array (eWLB) die bonding systems, and die sorting systems; Packaging equipment, which include wafer level molding and singulation systems, and Plating equipment, which include metal plating systems and related process chemicals.
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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