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Besi shares fall on report ASML is working on rival hybrid bonding product - Finance news and analysis from Global Banking & Finance Review
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Besi shares fall on report ASML is working on rival hybrid bonding product

Published by Global Banking & Finance Review

Posted on October 16, 2026

2 min read

· Last updated: October 16, 2026

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Besi Shares Decline Amid ASML's Reported Entry into Hybrid Bonding Market

Market Impact and Industry Developments

Besi Faces New Competition

AMSTERDAM, Oct 16 (Reuters) - Shares in computer chip packaging equipment maker BE Semiconductor Industries (Besi) fell 3% on Friday after influential semiconductor research firm SemiAnalysis reported that one of the company's main growth products will face competition from bigger rival ASML.

ASML's Hybrid Bonding Ambitions

The SemiAnalysis report analysed 27 patent filings by ASML, which it said indicated ASML was developing a hybrid bonding product.

Current Market Positions

Besi is a fraction of the size of ASML, the biggest maker of equipment used to make semiconductors, but Besi is a leader in hybrid bonding, an advanced packaging technology being used to create a new generation of more powerful three-dimensional chips.  

ASML has not confirmed it is developing such a tool. Besi did not respond to requests for comment. 

Stock Market Reactions

Besi shares were down 3% at €158.50, while ASML was up 1.1% at €1,480 in midday Amsterdam trading.

ASML's Official Response

A spokesperson for ASML declined to comment on the SemiAnalysis report but pointed to the company's launch of its first advanced packaging tool last year. "We continue to look at which directions the 3D integration industry will evolve ... and where ASML's expertise can be of additional value," the company said in a statement at that time.

Industry Outlook and Expert Opinions

Future Packaging Tools

In March, Reuters reported that ASML was planning additional packaging tools, citing Chief Technical Officer Marco Pieters in an interview.

Analyst Perspectives

"The semiconductor market has already signalled that packaging is one of those next frontiers where performance gains can be unlocked, and ASML seems to be building next-gen tools headed in the same direction," said Nick Rossolillo, co-founder of Chip Stock Investor.

"We see the new batch of packaging tools, beyond an EUV pipeline, as critical to pulling off the growth needed to justify (ASML's) elevated valuation."

(Reporting by Toby Sterling; Editing by Susan Fenton)

Key Takeaways

  • SemiAnalysis based its report on 27 ASML patent filings (Dec 2022–Nov 2024), a Korean press tip, and ASML’s roadmap, indicating a possible die‑to‑wafer hybrid bonding tool design(tsnmedia.org).
  • ASML hasn’t confirmed such a product but previously launched the XT:260 advanced packaging scanner and signaled interest in 3D integration, hinting at strategic expansion beyond lithography(thelec.net).
  • Bank of America recently downgraded Besi, halved its price target, warning that ASML entering hybrid bonding poses downside risk to Besi’s growth and valuation(thenextweb.com).

References

Frequently Asked Questions

Why did Besi shares fall on Friday?
Besi shares fell 3% after a report said ASML, a larger rival, is developing a competing hybrid bonding product.
What is hybrid bonding in semiconductors?
Hybrid bonding is an advanced chip packaging technology used to create powerful three-dimensional semiconductor chips.
Has ASML confirmed development of hybrid bonding tools?
ASML has not confirmed developing a hybrid bonding tool specifically but has launched advanced packaging tools and stated interest in 3D integration.
How did ASML and Besi shares perform after the report?
Besi’s shares dropped 3% to €158.50, while ASML’s shares rose 1.1% to €1,480 in midday Amsterdam trading.
Why is packaging technology important in the semiconductor industry?
Packaging technology is seen as a key area for unlocking future performance gains in the semiconductor industry.

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