BE Semiconductor Industries : Short-term upside looks limited and we prefer ASML/ASMi in relative terms
>The stock looks to be correctly valued – Neutral rating reiterated - The stock closed up sharply yesterday (+16%) despite a new profit warning. We put this down to three causes: 1) downward revisions had probably already been priced in by the market (the stock was down 12% over the last two weeks); 2) management took a reassuring tone on many subjects (hybrid bonding, China); and 3) the likelihood of a hefty adjustment of the consensus (often a key signal allowing to...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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