BE Semiconductor Industries is trading 4.07% down at €187.25 after Morgan Stanley reduced its price target to €220 from €260 while retaining a positive rating.
- The bank expects hybrid bonding for high-bandwidth memory to arrive later and at lower volumes, raising concerns about near-term growth and valuation.
- The action followed the September 8 session and appears to be the clearest catalyst for the decline.
- Broader risk-off sentiment and semiconductor volatility may have added pressure, but the target reduction remains the primary explanation identified.