ASM Pacific 522

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ASMPT (00522.HK) Dives 6.5% Once; 3Q Rev. Drops ~4%

With aggravated slump, it bottomed at $82.4, diving 6.5%.

ASMPT had previously announced its 3Q results, with net profit rising 77.1% YoY to $25.908 million and sales revenue falling 3.7% YoY to $3.345 billion.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/quote ... mbol=00522

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Group Performance at a Glance

Group Financial Highlights for Q3 2024

Revenue of HK$3.34 billion (US$428.5 million), -3.7% YoY and +0.1% QoQ

Bookings of HK$3.17 billion (US$406.1 million), +7.1% YoY and +1.5% QoQ

Gross margin of 41.0%, +683 bps YoY and +94 bps QoQ

Operating margin of 5.3%, +343 bps YoY and +129 bps QoQ

Net profit of HK$23.8 million, +87.0% YoY and -82.6% QoQ

Basic earnings per share of HK$0.06, +50.0% YoY and -81.8% QoQ

https://www1.hkexnews.hk/listedco/listc ... 000013.pdf

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<Research>G Sachs Cuts ASMPT (00522.HK) TP to $108 as Short-term Headwinds Remain on SMT, Mainstream Packaging Tools

ASMPT (00522.HK) recently obtained a meaningful orders of thermal compression bonding (TCB) tools for HBM applications, marking an important milestone in the Company's penetration into the memory market, Goldman Sachs issued a research report saying.

The broker expected the Company to continue to receive/deliver orders for advanced packaging tools involving TCB and hybrid bonding (HB) tools, etc..

However, Goldman Sachs believed that ASMPT's traditional packaging and SMT will continue to face challenges in the near term, and forecasted the slow growth momentum could last in the near term.

The broker lowered its 2024-2026 net profit forecasts for ASMPT by 64%/ 13%/ 13%, and cut its target price by 7% to $108, on attractive evaluation, with rating at Buy.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

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<Research>G Sachs Cuts ASMPT (00522.HK) TP to $108 as Short-term Headwinds Remain on SMT, Mainstream Packaging Tools

ASMPT (00522.HK) recently obtained a meaningful orders of thermal compression bonding (TCB) tools for HBM applications, marking an important milestone in the Company's penetration into the memory market, Goldman Sachs issued a research report saying.

The broker expected the Company to continue to receive/deliver orders for advanced packaging tools involving TCB and hybrid bonding (HB) tools, etc..

However, Goldman Sachs believed that ASMPT's traditional packaging and SMT will continue to face challenges in the near term, and forecasted the slow growth momentum could last in the near term.

The broker lowered its 2024-2026 net profit forecasts for ASMPT by 64%/ 13%/ 13%, and cut its target price by 7% to $108, on attractive evaluation, with rating at Buy.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

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ASMPT (00522.HK) Nosedives ~5% as Privatization Talks Lapse

ASMPT had announced that it ceased discussions with potential offerors regarding a possible privatization.

According to hearsay, the potential buyer was a US private equity fund KKR (KKR.US).

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

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<Research>M Stanley Resumes Coverage on ASMPT (00522.HK), w/ Rating Equalweight, TP $82

Morgan Stanley published a research report and resumed coverage on ASMPT (00522.HK) with an Equalweight rating and $82 target price.

The broker noted that the pace of recovery in the mainstream semiconductor and electronics manufacturing markets remains slow.

Yet, in advanced packaging, ASMPT made a breakthrough in the high bandwidth memory (HBM) market.

The company’s management forecast 4Q24 sales to fall 3.5% YoY to US$420 million, with total new orders expected to be flat QoQ.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

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Jan 14, 2025

Citi rated ASMPT at Buy, with a target price of $105.

Citi believed that the upcycle valuation multiples are justified, as it envisioned a recovery in revenues and net profit on the ride of strong TCB orders this year; and stabilization of the mainstream SEMI and SMT businesses.

AI-driven expansion in advanced packaging revenue contribution was forecast to help drive re-rating.

Source: AAstocks.com

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ASMPT Once Plunges 17%+ as 2024 NP Sinks 52% w/ Div. Cut

ASMPT (00522.HK) caved under pressure after its results announcement.

ASMPT's 2024 net profit plummeted by 51.7% YoY to $345 million, while its revenue also slipped by 10% to $13.229 billion.

A total dividend of HK32 cents was declared, including a final dividend of HK 7 cents per share and a special dividend of HK 25 cents per share, compared to HK78 cents in the corresponding period of the previous year.

The group paid a total dividend of HK67 cents per share last year and $1.39 in 2023.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

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Singaporean chip tool maker sees AI opportunities amid DeepSeek boom, after stock plunge

ASMPT CEO Robin Ng said DeepSeek’s models are ‘good for the industry’ because cheaper AI means more applications and greater chip demand

by Zhou Xin

ASMPT, a Singapore-based semiconductor equipment maker listed in Hong Kong, said the company is seeing opportunities from a proliferation of DeepSeek-inspired artificial intelligence (AI) applications, defending the company’s long-term prospects after its share price plunged 17 per cent on Wednesday.

The company, which supplies tools for semiconductor and electronics manufacturing, reported on Wednesday a 94.4 per cent decline in net profit for the fourth quarter, to HK$4.2 million.

Revenue for the December quarter remained steady at HK$3.4 billion compared with the same period in 2023.

Source: SCMP

https://www.scmp.com/tech/tech-trends/a ... pe=section

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<Research>Macquarie Downgrades ASMPT (00522.HK) to Neutral, Slashes TP to $68

ASMPT (00522.HK) reported weaker-than-expected 4Q24 results, mainly due to low gross profit margin from its surface mounting technology (SMT) business, with revenue being flattish YoY to $3.4 billion, broadly in line with expectations, Macquarie issued a research report saying.

Gross profit margin fell 509 bps YoY, missing estimation, while EPS declined 94% YoY, weaker than expected.

Related News: BOCI Trims ASMPT (00522.HK) TP to $98, Rating Buy

Macquarie lowered its 2025/ 2026 profit forecasts for ASMPT by 85%/ 67%, equivalent to the projected PB ratio of 1.8x.

Meanwhile, the broker slashed its target price from $111 to $68, and downgraded the stock from Outperform to Neutral. Investors should wait for a better entry point.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN