Stock Track | ASMPT Soars 5.38% Intraday on NEXX Divestiture, HBM4 Orders and Strong Q1 Results

Stock Track05-20 13:19

ASMPT's stock surged 5.38% during intraday trading on Wednesday, marking a significant upward movement for the semiconductor equipment manufacturer.

The soaring stock price is supported by multiple positive catalysts. ASMPT recently announced the divestiture of its NEXX subsidiary to Applied Materials for USD 120 million in cash, streamlining operations to focus on its core backend packaging business. Additionally, the company's TCB equipment has secured orders of approximately KRW 30 billion from SK Hynix for HBM4 mass production, positioning it well in the high-bandwidth memory market.

Further supporting the bullish momentum are ASMPT's strong first-quarter financial results, with adjusted profit of HKD 335 million (up 193.5% year-over-year) and revenue of HKD 3.97 billion (up 32.0%), both exceeding market expectations. The broader AI supply chain momentum, with global CSP capital expenditure projected at approximately USD 830 billion, also provides a favorable backdrop for the company's growth prospects.

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