Applied Materials plans to increase its stake in Besi to approximately 20% without requesting a board seat

A long-term shareholder who rules out any governance ambitions

BE Semiconductor Industries (Besi) took note, on October 27, 2026, of a press release published the previous day by Applied Materials. In this statement, Applied announced that it had increased its strategic stake in the Dutch semiconductor assembly equipment manufacturer. According to the press release, Applied concluded an agreement intended to raise its stake to approximately 20% of Besi's outstanding shares, whose headquarters are located in Duiven, Netherlands.

Applied accompanied this announcement with three clarifications that frame its position. The group considers its investment in Besi as a long-term commitment. It does not intend to seek board representation in the company. It currently has no plans to acquire additional shares.

These statements have concrete significance for reading the shareholding structure. A stake expected to reach approximately one-fifth of the capital would make Applied Materials a significant shareholder in Besi's ownership structure. By forgoing a board seat and indicating it does not wish to increase further, Applied presents itself as a stable shareholder rather than as a player seeking to influence Besi's decisions.

Besi's press release reiterates these elements by explicitly citing Applied's statement as a source. Besi's ordinary shares are listed on Euronext Amsterdam under the symbol BESI, while its depositary receipts (Level 1 ADR) are traded on over-the-counter American markets under the symbol BESIY. Applied's new position therefore concerns a group whose value is tracked in both Europe and the United States.

A partnership in hybrid bonding engaged since 2020

The capital link is supported by an established industrial partnership. Besi and Applied have been working together since 2020 on the development and commercialization of integrated hybrid bonding production systems, intended for leading semiconductor manufacturers. This collaboration combines Applied's expertise in wafer-level chip manufacturing, upstream in the supply chain, with Besi's technologies in chip placement, interconnection, and assembly.

The partnership was recently expanded. Besi joined Applied's EPIC Center as an innovation partner. The joint work focuses on the next generation of three-dimensional integrated circuits, the integration of logic and memory, the scaling up of thermocompression bonding, as well as new wafer-to-wafer, chip-to-chip, and chip-to-panel assembly platforms.

Besi's Chief Executive Officer, Richard W. Blickman, welcomed this decision favorably. "We welcome Applied's increased strategic investment as further confirmation of Besi's strategy in hybrid bonding and wafer-level assembly," he stated, according to a translation of the press release. He added that the transaction highlights future areas of potential collaboration between the two companies, targeting next-generation artificial intelligence and photonics systems for leading customers in the industry.

An announcement following quarterly results publication and share price decline

This capital increase comes a few days after the publication of third-quarter results. On October 22, 2026, Besi reported revenue up 113.6% and quarterly net income of €107.2 million. Earnings per share came in at €1.33, against an average expectation of €1.30 from analysts, with the fourth quarter expected to remain stable.

On the market, the share has experienced a sharp decline in recent weeks. On October 15, 2026, the stock showed a decline close to 35% over one quarter. On October 23, 2026, it fell below its 150-day low, at €155.55, as several brokers, including JP Morgan and BofA, had lowered their price targets during the month.