BE Semiconductor: Hold Rating Amid Reduced Revenue Estimates and Balanced Risk-Reward Profile

In a report released today, Adithya Metuku from HSBC upgraded BE Semiconductor (0XVE – Research Report) to a Hold, with a price target of €95.00.

Adithya Metuku has given his Hold rating due to a combination of factors influencing BE Semiconductor’s outlook. The company’s revenue and operating income estimates for 2025 have been reduced by 8.5% and 14.3%, respectively, reflecting a weaker outlook. Despite the structural growth drivers, the market for hybrid bonding tools is not expected to meet the company’s expectations, although consensus expectations have significantly decreased.
The risk-reward profile is now more balanced, with limited downside potential to the target price of EUR95. The company’s shares have already declined over 25% year-to-date, and further reductions in consensus expectations could mitigate downside risks. Consequently, the rating was upgraded from Reduce to Hold, as buy-side expectations are likely aligning more closely with the analyst’s estimates, which are below the consensus expectations of Visible Alpha.

In another report released on April 26, Berenberg Bank also maintained a Hold rating on the stock with a €120.00 price target.