BE Semiconductor Industries : Q3 order intake expected < forecasts, but context not as unfavourable
>Disappointment on order intake likely but the risk/reward becomes more attractive, in our view - Target price of € 160 (vs € 200), Outperform reiterated - BESI is due to publish its Q3 2024 results on 24 October. Whilst we are relatively cautious in the run-up to this publication (we are 18% below on order intake for Q3 and have revised down our 2025e EPS estimate by 10%), we think that the share’s recent performance already reflects the anticipated disappointment (...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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