[ET Net News Agency, 1 March 2021] HSBC Global Research lifted its target price for ASM
Pacific Technology (00522) to HK$135.5 from HK$118 and maintained its "buy" rating.
The research house said ASM's 4Q 2020 revenue of HK$4.92bn was 12% above HSBC's
estimates. However, the gross margin of 28.9% missed by 5% mainly due to a one-time
inventory write-off for product portfolio simplification.
The 1Q 2021 sales guidance of -17% QoQ was worse than HSBC's estimate of -7%. Management
did not provide specific margin guidance but expects around 1% improvement post product
portfolio simplification and another 2-3% increase from exiting the Materials business
segment.
HSBC increased its FY2021/22 EPS forecasts by 15%/14% to HK$5.42/HK$6.88. (KL)
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00522 ASMPT
Nominal 
96.950 -5.350 (-5.230%) Others
01/03/2021 15:56
{I-bank focus}HSBC lifts ASM Pacific (00522) to HK$135.5
| Remark: | Real time quote last updated: 25/04/2024 11:51 |
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