Advanced packaging is key for semiconductor firms: Stifel ups BESI to 'buy'
12/08/2024 12:11
** Stifel says advanced packaging (AP) is the way forward
for the leading-edge semiconductor industry, with higher
investments needed in the more efficient chip packaging
technologies
** "The industry has long viewed the back-end as the ugly
sister of the front-end (chip manufacturing), with 90%+ of the
wafer fab equipment (WFE) spending being allocated to the
front-end," says Stifel
** But as the equipment for the front-end becomes
increasingly expensive, efficiency gains in the back-end become
even more attractive, it says
** Chip-on-Wafer-on-Substrate (CoWoS) packaging represents
"a paradigm shift in AP", especially for AI, as CoWoS are
smaller and more efficient, it adds
** Stifel upgrades chipmaking parts supplier BE
Semiconductor Industries BESI.AS to "buy" from "hold", saying
the first mover advantage should not fade away quickly for the
leader in hybrid bonding, the most advanced form of packaging
** Suess MicroTec SMHNn.DE ("buy") remains Stifel's second
pick, with its strong exposure to CoWoS packaging through its UV
scanners and temporary bonders
(Reporting by Charlotte Eugenie Yvette Bawol)
((CharlotteEugenie.YvetteBawol@thomsonreuters.com;))