The Zhitong Finance App learned that Bank of America Securities released a research report stating that it maintains the ASMPT (00522) “buy” rating and that the target price of HK$310 remains unchanged. The bank raised its 2026 earnings forecast per share by 6% to HK$4.24, mainly reflecting better-than-expected results for the second quarter; the 2027 and 2028 earnings forecasts per share remained largely unchanged at HK$6.62 and HK$9.43, respectively. The bank expects sales to reach HK$19.692 billion, $27.765 billion and HK$38.424 billion respectively from 2026 to 2028.

According to the report, ASMPT's second-quarter results beat market expectations, with sales of HK$4.936 billion for the period, up 45% year on year (52% increase in terms of continuing operations); gross profit margin of 42%; operating margin of 16%; and profit per share of HK$1, an increase of more than double the previous year, all higher than market consensus and expectations. Management gave optimistic guidance on sales for the third quarter, which increased 46% year over year in median terms, mainly driven by strong orders for AI chip/server related back-end equipment (including thermocompression welding (TCB) and SMT), and order volume almost doubled year over year. Bank of America pointed out that ASMPT's strong growth appears to have come mainly from non-memory/logic customers in mainland China, Taiwan, and Europe, while TCB shipments for HBM have limited growth, as HBM is mostly packaged in South Korea.

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