Bank of America Securities has issued a research report increasing its earnings per share forecasts for ASMPT for 2026, 2027, and 2028 by 21%, 14%, and 13% respectively. The price target has been raised from HK$160 to HK$190, reflecting expectations for stronger growth in both earnings per share and dividends. The firm reiterated its "Buy" rating on the stock. ASMPT's first-quarter 2026 results significantly surpassed both market expectations and the bank's own projections. Sales reached 4 billion, representing a 27% year-over-year increase, or 32% growth when measured in US dollars. Non-GAAP gross margin, operating margin, and earnings per share were 39.5%, 10%, and 0.8, respectively, outperforming the market's expected EPS of 0.56 and the bank's forecast of 0.51. Key contributing factors likely included high margins from semiconductor equipment and a rapid recovery in SMT sales. Non-operating expenses were minimal, and the company maintains a net cash position. Consequently, earnings per share appear to be several times higher than the low levels seen during the 2023-2025 period.