BE Semiconductor Industries stock slides despite record Q2 orders

BE Semiconductor Industries (BESI) reported second‑quarter orders 18 % above consensus, driven by photonics, hybrid bonding and datacenter demand. Revenue reached €250 million with a gross margin of 65.7 %, and earnings before interest and taxes came in at €108.8 million, well ahead of the €90 million forecast. Despite the strong order intake, the share price fell sharply, hitting a low of €233.6, a drop of nearly 6 %, before recovering to around €242.

UBS analysts, who highlighted the robust order flow and continued progress in hybrid‑bonding technology, reiterated their buy recommendation with a target price of €370. The broader market context included pressure on AI‑related stocks and rising oil prices tied to geopolitical tensions, which contributed to the volatile reaction.

The company, based in the Netherlands, expects third‑quarter gross margins of 63‑65 % and anticipates continued growth in hybrid‑bonding orders from existing and new hyperscaler customers.