Ge Long Hui·2026-03-05 03:09Core Viewpoint - ASMPT is well-positioned to benefit from strong growth in advanced packaging equipment investments and the recovery of mainstream semiconductor solutions [1] Group 1: Company Performance - ASMPT is implementing stricter operational expense management, which is expected to enhance operational leverage in the coming quarters [1] - The company is restructuring its business portfolio to focus more on the rapidly growing advanced packaging equipment sector [1] Group 2: Market Outlook - The overall market size for wafer-level packaging is expected to expand, along with improvements in the mainstream semiconductor market [1] - Earnings growth is anticipated to accelerate in 2026 to 2027 due to these market dynamics [1] Group 3: Analyst Rating - Morgan Stanley maintains an "Overweight" rating on ASMPT, raising the target price from HKD 125 to HKD 130 [1]