After -29.5% in three months, BE Semiconductor stock holds its support level
The Dutch semiconductor equipment manufacturer is recovering slightly during the session, after a series of declines that has moved it away from its spring peaks. The stock remains well below its moving averages, while a broker has just revised its assessment on the security.
A rebound of barely 1% on a support level at €172.50 tested closely
The BE Semiconductor stock gains 0.99% to €174.20 during the session, while the CAC 40 rises 0.57%. The movement stems from the previous close at €172.50, a level that precisely corresponds to the identified support threshold, and the stock barely moves away from it. The decline of 9.29% over one week and 29.47% over three months illustrates the extent of the journey since the all-time high of €263.80 recorded in early May.
The price is 6.64% below the 20-day moving average and 18.79% below the 200-day moving average, leaving this small rebound well short of resistance zones. The RSI at 36.91 remains below 50 without reaching oversold territory. The stock had abandoned the €175.95 threshold on October 7, following a downgrade by BofA.
Oddo BHF lowers its target price from €400 to €320 and maintains outperform rating
Oddo BHF lowered its price target on BE Semiconductor on October 13, from €400 to €320, while maintaining an outperform rating. This target remains 83.7% above the current price, according to the consensus of analysts surveyed. The valuation stands at 39.4 times expected earnings for the current fiscal year and 26.6 times those of the following fiscal year, according to the consensus of surveyed analysts.
Over one year, the stock maintains a gain of 22.03%. The next technical level to monitor is the support at €172.50, which the price is in contact with this morning.
