ASM International N.V.

ASM International is an equipment supplier mainly to the semiconductor manufacturing industry. Co. designs, manufactures and sells equipment and services to its customers for the production of semiconductor devices, or integrated circuits. Co.'s front-end segment manufactures and sells equipment used in wafer processing, encompassing the fabrication steps in which silicon wafers are layered with semiconductor devices. Co.'s back-end segment manufactures and sells equipment and materials used in assembly and packaging, encompassing the processes in which silicon wafers are separated into individual circuits and subsequently assembled, packaged and tested.
  • TickerASM
  • ISINNL0000334118
  • ExchangeEuronext Amsterdam
  • SectorTechnology Hardware & Equipment
  • CountryNetherlands

Analysts

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Hana Maalej
  • Jeremy Garnier
  • Nicolas Thorez
  • Nicolas David
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 09/12/2019

...

Stephane Houri

ASM International N.V : Road show feedback - the end of the year is going as expected - target price increased to € 95 (vs € 80)

>Buy rating maintained and target price raised to € 95 from € 80 following a road show - Following a road show in Frankfurt with Victor Bareno (head of IR), we reiterate our Buy rating and increase our target price from € 80 to € 95. We are not changing our estimates at this stage. However, we believe that there might be upside notably on the back of: 1/ a faster1ethan1eexpected improvement in 2020 in the memory market (we expect group sales to grow +8% in 2020 assuming...

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Hana Maalej
  • Jeremy Garnier
  • Nicolas Thorez
  • Nicolas David
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 12/09/2019

...

Stephane Houri

ASM International N.V : Feedback de roadshow : la fin de l’année se déroule comme prévu ; OC relevé à 95 € (vs 80 €)

>Opinion Achat maintenue et OC relevé à 95 € vs 80 € suite à un roadshow - Suite à une journée de roadshow à Francfort avec Victor Bareno (Head of IR), nous réitérons notre opinion Achat et relevons notre OC par DCF de 80 € à 95 €. Nous ne modifions pas nos prévisions à ce stade. Mais, nous pensons qu’il peut y avoir de l’upside notamment sur : 1/ une amélioration plus rapide que prévu en 2020 du marché de la mémoire (nous tablons sur un CA groupe à +8% pour 2020 avec...

Emmanuel Matot ...
  • Jean-François Granjon
  • Martial Descoutures
  • Nicolas Thorez
  • Pierre Corby
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 09/11/2019

Mediawan’s share price has returned to a level close to the IPO price. Yet the group has made several shrewd acquisitions, built up its structure and proven capable of generating solid organic growth (+13% in 2018) and high margins (19%). There is increasing demand for content and a number of examples in the sector (Entertainment One and KKR) illustrate that the group's strategy is sound. The group is due to report its H1 2019 figures on 30 September which should confirm the favourabl...

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Hana Maalej
  • Jeremy Garnier
  • Nicolas Thorez
  • Nicolas David
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 09/12/2019

...

Stephane Houri

ASM International N.V : Road show feedback - the end of the year is going as expected - target price increased to € 95 (vs € 80)

>Buy rating maintained and target price raised to € 95 from € 80 following a road show - Following a road show in Frankfurt with Victor Bareno (head of IR), we reiterate our Buy rating and increase our target price from € 80 to € 95. We are not changing our estimates at this stage. However, we believe that there might be upside notably on the back of: 1/ a faster1ethan1eexpected improvement in 2020 in the memory market (we expect group sales to grow +8% in 2020 assuming...

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Hana Maalej
  • Jeremy Garnier
  • Nicolas Thorez
  • Nicolas David
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 12/09/2019

...

Stephane Houri

ASM International N.V : Feedback de roadshow : la fin de l’année se déroule comme prévu ; OC relevé à 95 € (vs 80 €)

>Opinion Achat maintenue et OC relevé à 95 € vs 80 € suite à un roadshow - Suite à une journée de roadshow à Francfort avec Victor Bareno (Head of IR), nous réitérons notre opinion Achat et relevons notre OC par DCF de 80 € à 95 €. Nous ne modifions pas nos prévisions à ce stade. Mais, nous pensons qu’il peut y avoir de l’upside notamment sur : 1/ une amélioration plus rapide que prévu en 2020 du marché de la mémoire (nous tablons sur un CA groupe à +8% pour 2020 avec...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Apple’s Keynote: no real surprises on hardware, new focus on services

>Several products announced, with seemingly limited improvements, as expected - Apple yesterday announced a series of new products, with seemingly limited improvements: 1/ 3 iphones (the 11, 11 Pro and 11 Pro Max), 2/ an entry-level iPad with a slightly larger screen, stylet support and the emergence of the smart connector that will be available on 30 September, from € 389, and 3/ the Apple Watch is transitioning to Series 5. It has a screen which can stay lit permane...

Emmanuel Matot ...
  • Jean-François Granjon
  • Martial Descoutures
  • Nicolas Thorez
  • Pierre Corby
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 09/11/2019

Mediawan’s share price has returned to a level close to the IPO price. Yet the group has made several shrewd acquisitions, built up its structure and proven capable of generating solid organic growth (+13% in 2018) and high margins (19%). There is increasing demand for content and a number of examples in the sector (Entertainment One and KKR) illustrate that the group's strategy is sound. The group is due to report its H1 2019 figures on 30 September which should confirm the favourabl...

Alain William ...
  • Alfred Glaser
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/11/2019

...

Alain William ...
  • Alfred Glaser
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/09/2019

...

Antoine Boivin-Champeaux ...
  • Charles Lepetitpas
  • Emmanuel Matot
  • Louis Boujard
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 09/04/2019

...

Antoine Boivin-Champeaux ...
  • Charles Lepetitpas
  • Emmanuel Matot
  • Louis Boujard
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 04/09/2019

...

ASM INTERNATIONAL with less fundamental stars is reduced to Neutral

ASM INTERNATIONAL (NL), a company active in the Semiconductors industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date August 6, 2019, the closing price was EUR 71.84 and its expected value was estimated at EUR 62.56...

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