Stock Track | ASMPT Plummets 5.05% Intraday as Stock Consolidates After Rally Fueled by Divestiture, Strong Earnings, and Major Order

Stock Track05-14

ASMPT's stock price plummeted 5.05% during the intraday session on Thursday, marking a significant pullback in trading.

The decline is viewed by market participants as a natural consolidation following a sustained multi-day rally. This previous rally was catalyzed by several positive developments, including the company's announcement to divest its ASMPT NEXX subsidiary to Applied Materials for USD 120 million in cash. The move is aimed at sharpening the company's focus on back-end advanced packaging by shedding low-margin front-end operations.

Furthermore, the stock's recent strength was supported by ASMPT's stronger-than-expected first-quarter results, which showed adjusted profit soaring 193.5% year-over-year to HKD 335 million on revenue of HKD 3.97 billion. The company also recently secured approximately KRW 30 billion in equipment orders from SK Hynix for HBM4 mass production, reinforcing its key position in the advanced packaging supply chain.

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