ASMi: sold off after annual results
(CercleFinance.com) - ASM International (ASMi) shares are down over 3% in Amsterdam, the day after the semiconductor equipment supplier published Q4 2023 results that were below expectations.
The Dutch group's adjusted net profit fell almost 62% to E90.9m, with a normalised operating margin down 3.9 points to 22.3% on revenues of E633m, down 7% excluding currency effects.
Oddo BHF has lowered its EPS estimate by 7%, as well as its target price from E700 to E680, although maintains an 'outperform' rating on the stock, noting orders that are 6% higher than expected and judging that the publication in no way invalidates the scenario of strong growth in 2025.
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