Midcap starts Semco at "hold" as post-IPO rally reflects full value

Semco Technologies SAS

30/09/2025 09:56

** Midcap starts coverage of French electrostatic-chuck maker Semco Technologies ALSEM.PA with "hold"

** It says the rating reflects the stock's sharp rally since its IPO, with the broker's Discounted Cash Flow model suggesting the shares are now fully priced

** Midcap sees growth driven by exposure to megatrends like AI and EVs, plus automation investments set to triple daily production capacity

** Semco's leadership in electrostatic chucks, key components for semiconductor manufacturing, creates high barriers to entry, the broker notes

** "Growth, profitability, free cash… what else!" Midcap says, pointing to a high-margin, cash-generative model that funds expansion and shareholder returns

** Micap sets TP at 27.3 euros/share

 (Reporting by Jérôme Terroy)

 ((jerome.terroy@thomsonreuters.com))