GF Securities raises ASE target price to NT$843 on AI packaging growth
TechNews reported that foreign brokerage GF Securities kept a "buy" rating on ASE Technology Holding and raised its target price from NT$754 to NT$843 per share in a new research note. The note says packaging capacity tightness has spread from AI GPUs to mature-node and analog chips, with lead times extended by more than 30% and OSAT prices up 10%–30% overall, and it projects ASE's LEAP advanced packaging and testing revenue at US$4 billion in 2026 and US$8 billion in 2027, above the company's earlier guidance of US$3.6 billion and US$7.2 billion. GF Securities also expects ASE's FC/Wirebond/QFN packaging prices to rise 10%–80% between Q3 and Q4 2026 and CoWoS prices to have 10%–20% room to rise, citing AMD server CPUs such as Venice and Verano moving to CoWoS.
The note argues semiconductor packaging has become a key supply bottleneck for both AI and non-AI applications, with product lead times extended by more than 30% and OSAT prices up 10%–30%.
外資廣發證券發布最新研究報告，維持封裝測試龍頭日月光投控「買進」投資評等，並將目標價由每股754元大幅調升至843元。報告指出，雖然整體大盤近期走勢平緩，但半導體封裝已成為AI與非AI應用的關鍵供應瓶頸。在封測價格調漲以及先進封裝與測試業務（LEAP）加速成長的雙重利多帶動下，日月光長期營運動能極為強勁。
報告指出，根據供應鏈調查，封裝產能吃緊現象已從AI GPU延伸至成熟製程與類比晶片，產品交期延長超過30%，未完成訂單持續累積。受AI強勁需求與測試時間拉長影響，封測廠（OSAT）整體價格走揚10%至30%。廣發證券預期，受惠於供給緊繃，日月光在2026年第三季至第四季間，FC/Wirebond/QFN封裝價格將上漲10%至80%，CoWoS價格亦有10%至20%的調漲空間。
#ASE Technology Holding#GF Securities#AMD#CoWoS#AMD Venice#AMD Verano