reports
Advantest and Tokyo Seimitsu Announce Joint Development of Die-Level P...
Advantest and Tokyo Seimitsu Announce Joint Development of Die-Level Prober TOKYO, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Leading semiconductor test equipment supplier (TSE: 6857) (“Advantest”) and (TSE: 7729) (“Tokyo Seimitsu”) announce plans to co-develop a new die-level prober, designed for the testing of high-performance computing (HPC) devices. Semiconductors are expected to become increasingly advanced and complex in the coming years. To promptly meet evolving market needs and deliver high-performance total test solutions to our customers, close collaboration across the semiconductor ...
Advantest to Showcase Latest Test Solutions at SEMICON Japan 2025 in T...
Advantest to Showcase Latest Test Solutions at SEMICON Japan 2025 in Tokyo TOKYO, Dec. 15, 2025 (GLOBE NEWSWIRE) -- Leading semiconductor test equipment supplier (TSE: 6857) will feature its latest semiconductor test solutions at SEMICON Japan 2025, which will be held from Dec. 17-19 at the Tokyo Big Sight in Tokyo, Japan. At this year’s event, Advantest will highlight its broad portfolio of leading-edge test technologies for applications such as AI and high-performance computing (HPC), advanced memory, power electronics, automotive, and wireless communications. Product and Solution Hig...
Advantest Unveils T2000 AiR2X Air-Cooled SoC and Power Analog Test Sol...
Advantest Unveils T2000 AiR2X Air-Cooled SoC and Power Analog Test Solution Compact next-gen tester doubles resource density, supports high-mix, low-volume production, and enables seamless legacy migration TOKYO, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Leading semiconductor test equipment supplier (TSE: 6857) today announced the T2000 AiR2X, a next-generation air-cooled test system engineered to meet rising demand for compact, cost-efficient testers in evaluation and high-mix, low-volume production environments. The new solution is fully compatible with the conventional T2000 test system and...
Advantest Introduces Next-Generation M5241 Memory Handler to Support H...
Advantest Introduces Next-Generation M5241 Memory Handler to Support High-Performance AI Memory Devices New platform delivers high-precision temperature control, maximized uptime, and enhanced maintainability to facilitate advanced memory test TOKYO, Dec. 10, 2025 (GLOBE NEWSWIRE) -- Leading semiconductor test equipment supplier (TSE: 6857) today announced the M5241 Memory Handler, its next-generation handler developed to meet the performance, automation and cost-efficiency demands of emerging high-performance memory devices—particularly those used in artificial intelligence (AI) appli...
- Pierre FerraguÊ
Bible 3Q25 – Semicap: Cautious on 2026; not the right AI play.
Today, we are publishing the Semicap Equipment section of our 29th Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 140 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Automotive, Hyperscale & Cloud, Telecom Equipment, Industrials, PCs, Enterprise IT, and Foundry. 3Q25 semicap revenues were flat QoQ, with China up...
- Pelham Smithers
PSA Semiconductors: Readthrough from Nvidia’s Q3 Results
While the FY25 Q3 results constituted a beat, they came in quite close to what the share price implied. However, the guidance for Q4 surprised on the upside. Pelham Smithers reviews the performance and outlook, with a readacross to beneficiaries in Japan and the numbers from China.
4062 IBIDEN CO. LTD.
5706 MITSUI MINING AND SMELTING COMPANY LIMITED
6723 RENESAS ELECTRONICS CORPORATION
6758 SONY CORPORATION
6857 ADVANTEST CORP.
6857 JP ADVANEST
AAPL APPLE INC.
1532533D CAMBRICON TECHNOLOGIES CORP
688256 CAMBRICON TECHNOLOGIES CORP LTD
4062.T IBIDEN CO
AAPL US LTD.
285A JT APPLE INC
KIOXIA CORPORATION (285A JT)
Advantest to Showcase Latest Test Solutions at SEMICON Europa 2025 in ...
Advantest to Showcase Latest Test Solutions at SEMICON Europa 2025 in Munich, Germany TOKYO, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Leading semiconductor test equipment supplier Advantest Corporation (TSE: 6857) will feature its latest semiconductor test solutions at SEMICON Europa 2025, which will be co-located with productronica and held from Nov. 18-21 at the Messe München in Munich, Germany. As SEMICON Europa celebrates its 50th anniversary, Advantest will attend this year’s event and highlight its broad portfolio of leading-edge test technologies for applications, including AI and high-p...
- Pierre FerraguÊ
NOW SERVICENOW INC.
DAI DAIMLER AG
WDC WESTERN DIGITAL CORPORATION
TER TERADYNE INC.
STX SEAGATE TECHNOLOGY PLC
MPWR MONOLITHIC POWER SYSTEMS INC.
GOOGL ALPHABET INC. CLASS A
GLW CORNING INC
FB FACEBOOK INC. CLASS A
EQIX EQUINIX INC.
CTSH COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION CLASS A
AVT AVNET INC.
ARW ARROW ELECTRONICS INC.
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
ASM PACIFIC TECHNOLOGY LIMITED
6723 RENESAS ELECTRONICS CORPORATION
8035 TOKYO ELECTRON LTD.
MELE MELEXIS NV
KLAC KLA CORPORATION
UMCB UNITED MICROELECTRONICS CORP (ADR)
AMZN AMAZON.COM INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
VOW VOLKSWAGEN (VOW GR)
CKP CHECKPOINT SYSTEMS INC
NET CLOUDFLARE INC CLASS A
CADE CADENCE BANK
TEAM ATLASSIAN CORPORATION
CLS CELESTICA INC.
5930 SAMSUNG GROUP
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
India Finally Showing Signs of Life We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int'l Compass reports all echoing this sentiment. We will maintain our bullish intermediate-term view as long as market dynamics remain healthy and the SPX and ACWI-US are above 6028-6059 and $125-$126. Our bullish near-term outlook will remain in place as long as the 6-month uptrend continues on ACWI-US, which gene...
- Pierre FerraguÊ
- Rolf Bulk
Advantest Unveils MTe – Unified, Scalable Test Platform for Power Semi...
Advantest Unveils MTe – Unified, Scalable Test Platform for Power Semiconductor Devices Flexible Platform Spans from Wafer to High-End Power Module Testing TOKYO, Oct. 30, 2025 (GLOBE NEWSWIRE) -- Leading semiconductor test equipment supplier (TSE: 6857) today announced the MTe power test platform. The cutting-edge MTe redefines test efficiency and scalability to address test requirements for the fast-growing power semiconductor market. Increasing market demand for electrification across automotive, industrial, renewable energy, telecommunication and data infrastructure applications i...
- Pelham Smithers
PSA Technology: Advantest (6857 JT) Update Following Teradyne (TER US)...
As Pelham Smithers noted in his review on Advantest’s blowout earnings [28 Oct], we were waiting to see the results from Teradyne for a readacross to the Advantests future performance and concludes that while it is possible that Teradyne’s 2025 Q4 guidance implies a market share gain, there’s a decent chance that it is another blowout quarter for Advantest.
- Pelham Smithers
- Pierre FerraguÊ
How much WFE is required to produce a 1 GW datacenter?
As a follow up to our cheat sheet summarizing the cost structure of a 1GW datacenter, we estimate today on a single slide WFE required to produce semiconductors for a 1 GW datacenter, with our usual important caveat: WFE spending is driven by the growth of production capacity. In other words, one spends once on WFE to build a 1GW datacenter many times over.
- Pierre FerraguÊ
Semicon West: 2026 outlook? Does AI drive growth? DRAM architectures? ...
Last week we attended the 2025 edition of the Semicon West conference, the key event for investors focused on the semiconductor equipment market. Over two days we hosted more than a dozen meetings with companies across the semiconductor value chain. Here are our key takeaways.
TSFA TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD. SPONSORED ADR
NVDA NVIDIA CORPORATION
MU MICRON TECHNOLOGY INC.
LRCX LAM RESEARCH CORPORATION
AMAT APPLIED MATERIALS INC.
BSI BE SEMICONDUCTOR INDUSTRIES N.V.
2330 TSMC
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
8035 TOKYO ELECTRON LTD.
KLAC KLA CORPORATION
AMD ASML HOLDING N.V.
ASML ASML HOLDING NV
AVGO ADVANCED MICRO DEVICES INC.
SOH1 ASML
BESI BROADCOM INC.
SOITEC
Advantest Announces Call for Papers for VOICE 2026 Developer Conferenc...
Advantest Announces Call for Papers for VOICE 2026 Developer Conference in Scottsdale, Ariz. TOKYO, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Leading semiconductor test equipment supplier Advantest Corporation (TSE: 6857) today announced a global call for papers for its VOICE 2026 Developer Conference, focusing on leading-edge technologies and future trends. The conference will be held in Scottsdale, Ariz., at the Fairmont Scottsdale Princess on May 18-20, 2026. VOICE is the leading conference for the growing global community of users and strategic partners involved with Advantest’s V93000 and ...
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
Stick With Global Technology; China Breaking Out We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int'l Compass reports all echoing this sentiment. We will maintain our bullish intermediate-term view as long as market dynamics remain healthy and the SPX and ACWI-US are above 6028-6059 and $125-$126. Our bullish near-term outlook will remain in place as long as the 4+ month uptrend continues on ACWI...
- Pierre FerraguÊ
Semicap and the $3tn AI bull-case: material upside, but well below the...
We published earlier this week our updated view on the Semicap rally, looking at the implication of AI spending tripling by 2030 for WFE spending. Today, we publish a follow-up looking at the implications of the $3tn AI bull case for Semicap on a single slide.
- Pelham Smithers
PSA Japan Market Strategy: Market Implications from Takaichi's Suprise...
The Japanese stock market’s take on the surprise victory of Sanae Takaichi in the LDP Presidential race suggested that it wasn’t so much a repeat of the “Koizumi Boom” from 20 years ago, but rather a brand new “Takaichi Boom”, and we saw the Nikkei 225 jump +4.8% to just under 48,000. Pelham Smithers compares and contrasts the impact and flags “Takaichi Stocks”. Importantly, market valuations suggest further upside.
6702 FUJITSU LIMITED
5631 JAPAN STEEL WORKS LTD.
7013 IHI CORPORATION
1812 KAJIMA CORPORATION
7012 KAWASAKI HEAVY INDUSTRIES LTD.
6920 LASERTEC CORP.
7011 MITSUBISHI HEAVY INDUSTRIES LTD.
6701 NEC CORP.
1801 TAISEI CORP
6857 ADVANTEST CORP.
8035 TOKYO ELECTRON LTD.
6506 YASKAWA ELECTRIC CORPORATION
6526 SOCIONEXT INC
- Pierre FerraguÊ
Does the Semicap rally have legs? Downgrading ASML to Neutral
The outlook for AI spending has strengthened in recent months, driving a rally in Semicap stocks. Our forecast embeds AI capex tripling by 2030, requiring ~$130bn of cumulative WFE spending, but driven by the first-order derivative of AI deployments, i.e. peak acceleration this year and peak spending next year; a trajectory in expectations already and resulting in a weak outlook beyond 2026. With near-term uncertainty, limited upside to 2026 forecasts, and valuations 2–12 turns above historic ...
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