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ASMPT Ltd 00522

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Stock XHKG Rating as of
HKD 101.30 +2.90 (2.95%)
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Company Report

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ASMPT Earnings: No Turnaround and Only Limited Growth in 2024 Expected

Dan Baker

ASMPT’s management guided on second-quarter revenue, implying an 18% decline year on year but a 2.3% increase quarter on quarter at the midpoint of the guidance range. The semiconductor segment, which usually leads the surface mount technology solutions segment, drove the expected sequential growth. First-quarter revenue declined by 20% year on year, with earnings per share down 44% year on year. ASMPT is experiencing strong demand from advanced packaging, is a higher-margin product set, and is leveraged to growth in high-performance computing, or HPC, and generative artificial intelligence.

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Price vs Fair Value

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00522 is trading at a 10% premium.
Price
HKD 99.00
Fair Value
HKD 82.00
Uncertainty
High
1-Star Price
HKD 973.60
5-Star Price
HKD 36.00
Economic Moat
Jqqcr
Capital Allocation
Htwqkrhxt

Bulls Say, Bears Say

Bulls

Well positioned to capitalize on the forecast medium- to long-term growth in the semiconductor market driven by Big Data, artificial intelligence, proliferation of electronics in autos and image sensors.

Bears

There are few switching costs for most of ASMPT’s equipment so its customers can switch suppliers if ASMPT’s technology does not remain competitive.

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Trading Information

Previous Close Price
HKD 98.40
Day Range
HKD 97.20–101.50
52-Week Range
HKD 57.65–113.40
Bid/Ask
HKD 101.20 / HKD 101.30
Market Cap
HKD 41.95 Bil
Volume/Avg
1.3 Mil / 2.0 Mil

Key Statistics

Price/Earnings (Normalized)
41.46
Price/Sales
3.62
Dividend Yield (Trailing)
2.55%
Dividend Yield (Forward)
0.53%
Total Yield
2.55%

Company Profile

ASMPT designs, manufactures, and sells precision equipment used to assemble semiconductors and other electronic equipment. Listed on the Hong Kong Stock Exchange since 1989, ASMPT is headquartered in Hong Kong and has operations in Asia, Europe, and the U.S. It is the largest supplier globally in both the assembly and packaging equipment market and the surface mounted technology market.
Sector
Technology
Industry
Semiconductor Equipment & Materials
Stock Style Box
Large Growth
Total Number of Employees
10,800
Website
https://www.asmpt.com

Competitors

Valuation

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Metric
00522
KLAC
LRCX
Price/Earnings (Normalized)
 41.4629.5230.88
Price/Book Value
 2.6028.9914.14
Price/Sales
 3.629.498.09
Price/Cash Flow
 30.3726.7227.89
Price/Earnings
00522
KLAC
LRCX

Financial Strength

Metric
00522
KLAC
LRCX
Quick Ratio
 1.481.361.78
Current Ratio
 2.532.142.82
Interest Coverage
 6.8210.7621.65
Quick Ratio
00522
KLAC
LRCX

Profitability

Metric
00522
KLAC
LRCX
Return on Assets (Normalized)
 3.11%21.67%20.40%
Return on Equity (Normalized)
 4.78%104.66%46.70%
Return on Invested Capital (Normalized)
 4.12%35.79%28.62%
Return on Assets
00522
KLAC
LRCX
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