BE Semiconductor initiated with an Outperform at Bernstein

Bernstein initiated coverage of BE Semiconductor (BESIY) with an Outperform rating and EUR 167 price target The firm initiated the European semiconductor sector with the view that advanced packaging and new material adoption will drive semiconductor performance improvement going forward. Lithography and traditional feature-shrinking, on the other hand, are seeing diminishing returns despite being the major performance driver for decades, the analyst tells investors in a research note.