Movement Alert｜ASMPT Rises 15.25% in Regular Trading, Multiple Banks Raise Target Prices After Q2 Earnings Significantly Beat Expectations

Market Focus07-31

On July 31, ASMPT rose 15.25% in regular trading, trading at 154.2 HKD/share, with turnover of 2.2 billion HKD. The surge was driven by a wave of investment bank upgrades following blockbuster second-quarter results released on July 28.

ASMPT reported Q2 revenue of 4.936 billion HKD, up 45% year-over-year, with adjusted net profit of 638 million HKD, exceeding market expectations by 76%. Orders reached 7.08 billion HKD with a book-to-bill ratio of 1.43x. Multiple major banks subsequently issued bullish calls: Bank of America maintained a Buy rating with a 310 HKD target; Citi reiterated Buy with a 250 HKD target; JPMorgan maintained Overweight at 225 HKD; CLSA maintained Outperform at 226.2 HKD after raising its earnings forecast 17%; and Huatai upgraded its target to 205 HKD. All targets imply significant upside from current levels.

The rebound comes after a pullback of over 30% from the stock's June highs near 232 HKD, with concentrated positive catalysts triggering rapid capital inflows. The broader Hong Kong chip sector also rallied strongly on the same day.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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