BE Semiconductor Industries : Slower-than-expected upturn, acceleration of hybrid bonding in logic, clarification of adoption timing in memory (HBM5)
>Outperform recommendation reiterated, TP reduced to € 165 from € 170 - BESI’s share price fell 2% yesterday. While Q1 orders and Q2 guidance clearly indicated a slower-than-expected cyclical upturn, the group was reassuring about hybrid bonding momentum and seems to be in a good position to reach or even exceed the consensus forecast (€ 107m vs ODDO BHF estimate: € 121m which we maintain). Given the weaker-than-expected guidance for the Q2 rebound, we nevertheless cu...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.