0451 GMT - The worst is likely over for ASMPT, Citi analysts say in a research note. The semiconductor company has delivered a large thermocompression-bonding tool order to a leading memory chip maker, they say, while another client has begun using ASMPT's bonding tool for low-volume production of 12-layer HBM4 chips. Order volume could become more meaningful in 2026 and 2027 as next-generation AI chips ramp up, they say. Mainstream semiconductor outlook is also improving, driven by AI data centers and EV demand in China, the analysts say. Citi says that new orders for ASMPT's thermocompression-bonding tool could be positive catalysts for its share price. Citi maintains a buy call on ASMPT and raises its target price to HK$75.00 from HK$65.00. Shares are last at HK$69.00. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

July 24, 2025 00:51 ET (04:51 GMT)

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