ASMPT (OTCMKTS:ASMVY) Shares Gap Up – Here’s Why

Shares of ASMPT Limited (OTCMKTS:ASMVY) gapped up before the market opened on Wednesday . The stock had previously closed at $60.31, but opened at $63.6660. ASMPT shares last traded at $63.6660, with a volume of 188 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded ASMPT from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

ASMPT Trading Up 5.6%

The firm has a 50-day simple moving average of $68.46 and a 200-day simple moving average of $58.34.

ASMPT Company Profile

ASM Pacific Technology Limited (OTCMKTS:ASMVY) is a Hong Kong–based provider of semiconductor and electronic assembly equipment. The company specializes in designing and manufacturing surface-mount technology (SMT) placement machines, flip-chip bonders and systems for wafer-level packaging. Its solutions are used by electronics manufacturers, semiconductor foundries and outsourced assembly and test (OSAT) providers worldwide.

ASMPT’s product portfolio encompasses high-speed pick-and-place machines, thermal equipment for reflow and curing processes, and advanced deposition tools for etch, physical vapor deposition (PVD), plasma-enhanced chemical vapor deposition (PECVD) and atomic layer deposition (ALD) applications.