Upbeat on wafer test market, JPM starts Technoprobe with 'overweight'

Technoprobe

06/10/2026 08:38

      ** JPMorgan starts coverage of Technoprobe TPRO.MI with an "overweight" rating, citing the Italian semiconductor testing company's "leading" position in the growing wafer test market 
** Stock up around 3%, the best performer on Italy blue-chip's index .FTMIB
** Technoprobe will benefit from growth in volume and complexity in the semiconductor market, which will be "tailwinds in the coming years for the overall market," says broker
** The tech firm is expanding capacity in the leading vertical MEMS probe cards segment, of which the Italian group already controls about 60% of the global share
** While more diversified, broker expects the final testing segment to also benefit from rising volumes 
** JPM sees continued gross and EBITDA margin improvement through 2028, mainly thanks to volume leverage with support from price and mix
** Out of 10 analysts that cover Technoprobe, 9 rate the stock "buy" and ​1 analyst rates it "hold"
     
     

(Reporting by Fabrizio La Rocca)
((Fabrizio.larocca2@thomsonreuters.com))