BE Semiconductor shares fall as order intake disappoints

(Reuters) -Shares in chipmaking equipment supplier BE Semiconductor (BESI) fell on Friday after first-quarter order intake fell year on year.

The supplier to chip manufacturers such as STMicroelectronics, Infineon Technologies and Amkor reported an order intake of 204.8 million euros, down 37.4% from a year earlier though up 1.1% quarter on quarter.

BESI shares were down 5.7% to 61.02 euros at 0725 GMT.

“This update will make the market aware of the risk for a downcycle for BESI,” ING analyst Marc Hesselink said, adding that the results were surprising as the rest of the semiconductor industry continues to appear very strong.

The Amsterdam-listed company said the fall in orders reflected lower demand for high-end smartphones, weakness in Chinese markets and global GDP uncertainties.

“It reflected decreased demand from Chinese sub-contractors for both smartphone and mainstream electronics applications,” CEO Richard Blickman said in a statement.

However, the company forecast its April-June revenue would rise nearly 10% compared with the previous quarter citing feedback from customers and suppliers.

It first-quarter revenue of 202.4 million euros ($212.9 million) was up 17.9% from the final quarter of 2021, topping its guidance of growth of around 15%.

Its Dutch peer ASM International in April forecast a rise in second-quarter revenue after reporting record high first-quarter revenue and order intake.

($1 = 0.9508 euros)

(Reporting by Anait Miridzhanian; editing by Sherry Jacob-Phillips and Jason Neely)