Update shared on06 Sep 2025
Fair value Decreased 0.31%ASM International’s consensus price target saw a modest reduction to €571.40 as analysts cite a recent Q2 order miss, rising macro uncertainty in WFE demand, and renewed concerns about 2026 growth prospects.
Analyst Commentary
- Lowered price targets reflect recent Q2 order miss, raising concerns about 2026 organic growth prospects.
- Bullish analysts maintain positive ratings, citing longer-term fundamentals despite short-term headwinds.
- Ongoing macro uncertainty in wafer fab equipment (WFE) demand, especially for 2026, prompting cautious revisions.
- Bearish analysts expect a decline in 2026 WFE spending, citing possible 16% fall in DRAM equipment and weakness in China.
- Adjustments driven by re-assessment of sector growth assumptions and anti-consensus expectations for key semiconductor end markets.
What's in the News
- ASM International completed a buyback of 322,533 shares (0.66% of shares outstanding) for €150 million, fulfilling the repurchase program announced in February 2025.
Valuation Changes
Summary of Valuation Changes for ASM International
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from €573.15 to €571.40.
- The Future P/E for ASM International has risen slightly from 30.93x to 31.60x.
- The Discount Rate for ASM International remained effectively unchanged, moving only marginally from 7.98% to 7.93%.
Disclaimer
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