BE Semiconductor Industries : Encouraging order intake but relatively high valuation
>Neutral rating maintained; target price raised to € 70 (vs € 58) after a good Q4 - The stock closed up 10% yesterday on better-than-expected Q4 order intake. While our understanding is that this high level is partly attributable to Apple’s desire to avoid supply chain issues (the first orders for the next iPhone are usually placed in Q1), the numbers are robust and still send a positive signal on demand (increase in the content of the next iPhone) and the identificat...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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