BNP estimates ASM Q2 stock orders cut by 72% from last year

BNP said in a report that ASM Pacific Technology (0522) management had predicted that semiconductor sector would unlikely recover in the third quarter. The fund house estimated that the Q2 unpaid ASM orders would hit US$50 mln, down 72% over last year.

However, considering the net profit of 40-45% and the underway cost reduction, the fund house maintained ASM target price at HK$18.9 and rating at ˇ§in line with the broad marketˇ¨.

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