[High-tech LED News] It is reported that CLSA maintains ASM Pacific's Outperform rating and the target price remains unchanged at HK$105.74.
CLSA said that in the third quarter of this year, ASM Pacific's surface mount technology equipment accounted for 45% of sales and 57% of pre-tax profit, which is the best performing business. ASM Pacific will begin to produce surface mount technology components in-house from the first quarter of 2012, thereby making better use of internal resources and reducing the cyclical impact of the LED industry.
CLSA pointed out that as orders will bottom out in the fourth quarter of 2011, the bank is still optimistic about ASM Pacific's new profit growth point.
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