Besi stock: JPMorgan cuts target for Besi stock from EUR 342.00 to EUR 275.00

Published on 10/22/2026 at 17:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Net profit reached EUR 107.20 million in third quarter 2026. Besi stock costs EUR 157.75 on October 22, 2026, down 2.89 percent versus the Xetra close.

JPMorgan target cut

JPMorgan Research cut its Besi target from EUR 342.00 to EUR 275.00 on October 19, 2026.
Third-quarter revenue reached EUR 283.40 million, up 113.60 percent year over year.
Besi stock costs EUR 157.75 at Lang & Schwarz on October 22, 2026 at 5:15 p.m. CEST, 2.89 percent below the Xetra close of October 21, 2026.
The new EUR 100.00 million share buyback is scheduled to begin on October 27, 2026.

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BE Semiconductor Industries N.V., known as Besi (NL0012866412), saw JPMorgan Research cut its price target from EUR 342.00 to EUR 275.00 on October 19, 2026, while keeping its Overweight rating, as reported by De Aandeelhouder. The stock was trading at EUR 157.75 at Lang & Schwarz on October 22, 2026 at 5:15 p.m. CEST, down 2.89 percent versus the Xetra close of October 21, 2026 at EUR 162.45.

Third-quarter revenue reaches EUR 283.40 million

Besi reported third-quarter revenue of EUR 283.40 million on October 22, 2026, up 113.60 percent from the same quarter a year earlier and 13.40 percent from the second quarter. Orders reached EUR 342.60 million, an increase of 17.00 percent from the prior quarter and 96.10 percent year over year, according to Ideal Investisseur. Net profit was EUR 107.20 million, while earnings per share came in at EUR 1.33 against EUR 1.30 expected by analysts.

Stock sits 52.64 percent below its high

The EUR 157.75 Lang & Schwarz price is 52.64 percent below Besi's 52-week high of EUR 333.10 and above its low of EUR 120.15. The year-to-date performance was plus 21.66 percent on October 21, 2026, according to the dated market figures. This places the current euro price well below the year's peak even after the strong order growth reported for the third quarter.

Buyback date follows October results

Besi's fourth-quarter revenue outlook calls for a result within plus or minus 5.00 percent of third-quarter revenue, with gross margin expected between 63.00 percent and 65.00 percent. The company also announced a EUR 100.00 million share buyback scheduled to start on October 27, 2026, after the current EUR 60.00 million program is expected to finish on October 26, 2026, according to Ideal Investisseur. Besi had EUR 246.60 million in net cash as of September 30, 2026, compared with a negative EUR 7.80 million position a year earlier.

JPMorgan target remains above the price

JPMorgan's EUR 275.00 target stands 74.33 percent above the Lang & Schwarz price of EUR 157.75. Its October 19, 2026 note cited a likely delay in hybrid-bonding adoption, while also expecting strong near-term orders tied to optical demand and artificial-intelligence infrastructure. The target cut therefore leaves a wide gap between the analyst view and the current euro quotation, but it does not remove the risk around delivery timing and customer adoption.

Price and upcoming dates

The next scheduled corporate date is October 27, 2026, when the new buyback is due to begin. The current program is scheduled to end on October 26, 2026. Besi's investor-relations release dated October 15, 2026 had identified October 22, 2026 as the reporting date for the third quarter ended September 30, 2026, according to Besi.

Where Besi stands after the report

The earnings figures show a sharp expansion in revenue and orders, while the quarterly outlook points to a flatter fourth quarter. For investors, the key numerical tension is between EUR 342.60 million of third-quarter orders and the expected fourth-quarter revenue range around the EUR 283.40 million third-quarter base. Besi is listed on Euronext Amsterdam under the symbol BESI.

The stock was trading at EUR 157.75 at Lang & Schwarz on October 22, 2026 at 5:15 p.m. CEST, 2.89 percent below the Xetra close of October 21, 2026 at EUR 162.45. The further course of trading is shown by the continuously updated real-time quote of Besi stock.