Macquarie: Raise ASMPT (00522.HK) target price to 75 Hong Kong dollars, second quarter revenue slightly below market expectations.

According to the Zhixin Finance APP, Macquarie released a research report stating that ASM Pacific Technology (00522.HK) had second quarter revenue of 3.402 billion yuan, meeting the bank's expectations, but falling 1% below market forecasts. Gross profit margin was 39.7%, 26 basis points higher than the bank's forecast, but 67 basis points lower than market forecasts. Net profit was 7% and 11% lower than the bank's and market forecasts respectively. The company's third quarter revenue guidance is between 445 million and 505 million US dollars. The bank slightly raised its earnings forecast for ASMPT for 2025 to 2027 by 1%, 2%, and 2% respectively, to reflect the rising potential of diversified production capacity, and also raised the target price by 10% from 68 Hong Kong dollars to 75 Hong Kong dollars, with a rating of "outperforming the market".