Berenberg Expects AI Demand to Fuel BE Semiconductor Growth Momentum; Estimates Updated

07:07 AM EDT, 07/27/2026 (MT Newswires) -- Berenberg revised its earnings assumptions for BE Semiconductor Industries (BESI.AS), as the research firm noted that sustained demand in artificial intelligence-related infrastructure continues to support the Dutch semiconductor equipment maker's growth trajectory. "Attractive thesis reflected in valuation: Besi is enjoying ongoing positive momentum as both sales and order intake continue to grow sequentially, primarily driven by AI computing application demand," according to a Monday report focused on semiconductor companies. "Order momentum looks set to continue as Besi progresses towards its ambitious longer-term targets, and we think that the attractiveness of the thesis is reflected in its rich valuation." For the second quarter, the company's revenue came in at 249.9 million euros, up 35.2% from the previous quarter and 68.7% year over year. The growth was primarily attributed to demand for hybrid bonding, photonics, and data center applications, alongside modest gains in mobile demand. "The company is an early pioneer of hybrid bonding, which is an advanced die bonding technique. Its market-leadership position is illustrated by its status as the only player with systems used in chip production. We believe that mainstream adoption of the technology should offer material revenue growth and margin expansion opportunities for Besi," the note said. Within this context, analysts raised their sales forecast for full-year 2026 through 2028 by 5.3%, 1.8% and 0.5%, respectively. Berenberg has a hold rating on the stock, with an unchanged price target of 240 euros.