B. Riley上调/维持半导体后道设备股观点但未披露新的公司级硬催化

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Investing.com -- B Riley has identified leading investment opportunities in the semiconductor capital equipment sector, with a focus on back-end and outsourced semiconductor assembly and test (OSAT) sub-sectors. The firm highlights four companies positioned to benefit from rising artificial intelligence demand and increased capacity investments in advanced packaging technologies.
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The analyst firm notes several fundamental developments supporting the sector. Near-term AI demand appears to be rising, driven by agentic AI x86 server orchestration that is lifting traditional server chip unit demand. Additionally, AI-related capital expenditure increases at major foundries and memory manufacturers are boosting demand for 2.5D packaging and high-bandwidth memory (HBM), creating tailwinds for inspection, handler, and ball bonder equipment. However, risks remain, including potentially moderating PC and smartphone unit outlooks. Following robust first-half 2026 gains that averaged roughly twice the SOX index’s 108% increase, the sector has experienced a 23% pullback in the third quarter to date. B Riley views this decline as enhancing entry opportunities for select names.
Cohu, Inc. (COHU)
B Riley maintains a Buy rating with a price target raised from $60 to $65. The firm projects above-consensus results and guidance, driven by continued strength in AI HPC Systems Neon HBM inspection and Eclipse handler systems. After outperforming peers and the SOX index in the first half of 2026, shares declined approximately 24% in the third quarter to date. The company trades at 38x forward two-year earnings, falling to 21.5x at the long-term target EPS mid-point. Cohu reports earnings on July 30 after market close.
Cohu, Inc. announced it received orders totaling approximately $5 million for its testing platform for use in AI data center power architectures. Following this, several firms including TD Cowen and Stifel raised their price targets on the company, citing growing AI-related demand.
Camtek Ltd. (CAMT)
B Riley rates the stock a Buy with a $220 price target. The firm expects moderately above-consensus second quarter 2026 results and third quarter guidance, supported by a $105 million multi-system OSAT and HBM contract win announced June 2, positive capital expenditure revisions from major customers, and OSAT capacity additions signaling strong demand. Shares rose 53% in the first half of 2026, trailing the SOX and peers, but the third quarter decline of 4% has been more modest. The stock trades at approximately 35x forward two-year earnings. Camtek reports on August 10 before market open.
Camtek Ltd. has received new orders exceeding $105 million for its inspection and metrology systems from a tier-1 OSAT provider and a high-bandwidth memory manufacturer. Analyst firms such as Evercore ISI and Jefferies also raised their price targets on the company, noting strong quarterly results and order intake.
Amkor Technology, Inc. (AMKR)
B Riley maintains a Neutral rating with a price target lowered from $90 to $75. The firm expects second quarter results and third quarter guidance slightly above consensus, with Compute rising on secular trends and new programs. Shares are up 69% year-to-date in calendar 2026, trading at approximately 29x forward two-year earnings. Amkor reports on July 27 after market close.
In a recent development, Amkor Technology, Inc. announced a 10-year partnership with Taiwan Semiconductor Manufacturing Company to expand advanced packaging capabilities in Arizona. The company also stated it is working with Advanced Micro Devices on packaging the chipmaker’s products.
Kulicke and Soffa Industries, Inc. (KLIC)
B Riley holds a Neutral rating with a $100 price target. The firm anticipates above-consensus results and guidance driven by rising General Semiconductor and Memory demand. Shares surged 193% in the first half of 2026, with a sector-average 20% decline in the third quarter to date, leaving the stock at B Riley’s price target and trading at approximately 24.5x forward two-year earnings. The company reports on August 5 before market open.
Kulicke and Soffa Industries, Inc. reported second-quarter 2026 financial results that surpassed analyst forecasts for both revenue and earnings per share. The company’s board also approved a quarterly dividend of $0.205 per share.
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