Besi shares tumble as weak mainstream chip markets hit Q3 forecast
Flat Q3 revenue outlook lags market expectations
Weakness in mainstream assembly markets continues
Q2 bookings slightly ahead of consensus
Shares fall 11%
Recasts with Q3 outlook, adds shares in paragraph 3, analyst comments in paragraphs 4-5, comments on market in 6 and 9
July 25 (Reuters) -Dutch chipmaking parts supplier BE Semiconductor Industries (Besi) BESI.AS forecast flat third-quarter sales on Thursday, below expectations, hit by weak growth in mainstream assembly markets, particularly in China.
That weakness was only partially offset by higher orders for its systems used in AI and other advanced packaging applications in the second quarter, it said.
Besi's shares fell 11% by 0822 GMT, adding to their 8.5% drop a day earlier, when Hong Kong listed rival ASM Pacific Technology 0522.HK also reported weak results and outlook.
Degroof Petercam said in a note that the mainstream business may be in a deeper downturn than the reported numbers suggest, as around a half of Besi's new orders came from AI applications.
"PC and smartphone shipments are ex-growth, automotive, industry, and consumer electronics end markets have been sluggish, and sales of the foundry sector are going nowhere, with TSMC 2330.TW being the sole AI-driven exception," Degroof wrote.
Besi said the lagging recovery in high-end smartphones, automotive and industrial markets was expected, as inventory levels at semiconductor producers remain high.
The chip assembly equipment maker said its third-quarter sales would be broadly in line with the 151.2 million euros ($163.9 million) reported for the second quarter.
Besi has been banking on a wider adoption of its hybrid bonding tools by chipmakers, driven by booming demand for AI-enabling technology. Hybrid bonding is Besi's top product used to create tighter interconnections inside a chip.
"We anticipate additional share gains in the next market upturn as node sizes shrink further and placement accuracy increases," CEO Richard Blickman said in a statement.
Order bookings rose to 185.2 million euros in the second quarter, beating analysts' consensus of 179 million euros.
Besi said it received 29 orders for hybrid bonding systems from two customers during the quarter, all of them for its latest generation 100 nm accuracy system used in 3D logic applications.
Besi, whose customers include AI chip giant Nvidia NVDA.O and the world's largest contract chipmaker TSMC, expects more bookings to come in the second half of 2024, as chipmakers ramp up capacity for high volume manufacturing next year.
($1 = 0.9226 euros)
Reporting by Dagmarah Mackos in Gdansk; Editing by Christian Schmollinger and Milla Nissi
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
