Nomura Raises ASE Technology Target to NT$730 on Advanced Packaging, AI Momentum

ASE Technology Holding is a major global provider of semiconductor assembly and testing services, with advanced packaging serving as a key growth engine for AI chip demand. Nomura Securities expects outsourcing orders released as TSMC expands CoWoS capacity, along with AMD’s adoption of FOCoS-B technology for its Venice CPU, to broaden ASE Technology’s opportunities in high-end packaging.

Nomura maintained its “buy” rating on ASE Technology Holding in its latest report and raised its price target to NT$730. The brokerage expects revenue from ASE Technology’s leading-edge advanced packaging business, LEAP, to double to $6.9 billion in 2027. AI demand, CoWoS outsourcing and the adoption of FOCoS-B are expected to drive continued growth in the company’s overall revenue and earnings per share.