Citigroup Reaffirms Buy Rating on ASMPT with HK$125 Target After Strong Q4 Performance

Stock News03-04

ASMPT reported better-than-guided financial results for the fourth quarter of 2025, with revenue rising 31% year-on-year to HK$4.254 billion. Both of its core businesses—Semiconductor Solutions (SEMI) and Surface Mount Technology (SMT)—recorded growth. However, gross margin dipped slightly by 0.8 percentage points to 36.5%, affected by product mix and weakness in the automotive and industrial markets served by the SMT division. The performance was viewed positively by analysts.

The company provided guidance for the first quarter of this year, projecting revenue between HK$3.7 billion and HK$4.1 billion. The midpoint of this range exceeds market expectations of HK$3.8 billion. ASMPT also indicated an increase in new orders for its Semiconductor Solutions segment, reflecting robust demand for advanced packaging. Analysts believe the traditional business has bottomed out and is now on a recovery trajectory.

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