ASML rival report challenges Besi stock as UBS target stands at EUR 159
Published on 10/20/2026 at 10:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSResults and technology risk
- A report on October 16, 2026 described ASML's potential hybrid-bonding competition for Besi.
- Besi's first-half 2026 orders reached EUR 562.60 million, up 116.50 percent year over year.
- Besi stock was trading at EUR 156.80 at 10:31 a.m. CEST on October 20, 2026 at Lang & Schwarz.
Besi (ISIN NL0012866412) was trading at EUR 156.80 at Lang & Schwarz on October 20, 2026 at 10:31 a.m. CEST, as investors weighed a report about possible ASML competition in hybrid bonding. Yahoo Finance reported on October 16, 2026 that ASML was developing a rival tool for the advanced chip-stacking process.
Hybrid bonding faces a new test
The technology is central to Besi's growth case, but the report raises a competitive question before the company's third-quarter results. According to Yahoo Finance, SemiAnalysis said ASML had filed 27 bonding patent families between December 2022 and November 2024. Besi was described as the only supplier with tools in volume production.
The market question is timing rather than current execution. The report said high-bandwidth-memory adoption of die-to-wafer bonding could move to 2029 or later, while ASML still faces technical hurdles involving metrology, contact and process cleanliness.
What does the order growth mean?
Besi's latest reported figures provide a substantial operating counterpoint. In the first half of 2026, revenue reached EUR 434.70 million and net income EUR 140.60 million, increases of 48.80 percent and 121.10 percent from the first half of 2025. Orders rose 116.50 percent to EUR 562.60 million, according to Besi.
The next test is close. Besi said in its October 15, 2026 release that it will publish third-quarter 2026 results on October 22, 2026, at 7:00 a.m. CET. The second-quarter report showed revenue of EUR 249.90 million and orders of EUR 292.90 million, both measured against the second quarter of 2025.
Analyst targets reset expectations
UBS downgraded Besi from Buy to Sell on October 7, 2026 and cut its target from EUR 370 to EUR 159, according to Investing.com. At EUR 156.80, the Lang & Schwarz price is 1.38 percent below that target. The same report said Bank of America cut its rating to Neutral and set a EUR 212 target on October 6, 2026.
Stock price and next date
The operating figures show strong recent demand, while the competitive debate puts more weight on the timing of hybrid-bonding adoption. Besi stock was trading at EUR 156.80 at Lang & Schwarz on October 20, 2026 at 10:31 a.m. CEST.
The further course of trading is shown by the continuously updated real-time quote of Besi stock.
Besi stock key data
- Company: BE Semiconductor Industries N.V.
- ISIN: NL0012866412
- Ticker: BESI
- Primary exchange: Euronext Amsterdam
- Price Lang & Schwarz (as of October 20, 2026, 10:31 a.m. CEST): EUR 156.80
- Sector / Industry: Information Technology / Semiconductor Equipment and Testing
- Index membership: AEX
Market context: Market report AEX.
