BE Semiconductor: Strengthening Photonics Position and Advanced Packaging Upside Drives Raised Estimates and €200 Target

Nigel van Putten, an analyst from Morgan Stanley, maintained the Buy rating on BE Semiconductor. The associated price target was raised to €200.00.

Nigel van Putten has given his Buy rating due to a combination of factors tied to BE Semiconductor’s strengthening position in photonics and advanced packaging. He highlights that the shift from active to passive optical alignment in silicon photonic transceivers should materially expand the company’s addressable market, as this new approach enables faster, high-precision assembly of increasingly complex modules.

He also points to BE Semiconductor’s already meaningful revenue exposure to photonics, which he expects to rise further as hybrid bonding and optics demand scale alongside TSMC’s capacity build-out. Reflecting this improved outlook, he raises earnings forecasts for FY27 and FY28 by around low double digits and lifts the price target to €200, arguing that accelerating fundamentals justify maintaining an Overweight, or Buy, recommendation.

In another report released yesterday, TipRanks – PerPlexity also reiterated a Buy rating on the stock with a €203.00 price target.