Investing.com -- Symtek Automation Asia (SAA) is anticipated to exceed market consensus in 2025, according to a report by TF International Securities analyst Ming-Chi Kuo. The growth is expected to be driven by strong demand for CoWoS stocker at Taiwan Semiconductor Manufacturing Company’s (TSMC) AP8, the world’s largest advanced packaging facility.

SAA is nearly the exclusive supplier of advanced packaging stocker systems for TSMC’s AP8, Chiayi plant, and U.S. and German facilities, which is expected to fuel its growth in 2026-2027. The EUV Lite Purge Stocker, co-developed by SAA and Gudeng, is set to be shipped to TSMC in 2026, which is projected to significantly boost both companies’ growth.

Following TSMC’s announcement of a US$100 billion U.S. investment in early March, the company has accelerated supply chain localization, encouraging key suppliers to establish facilities in Taiwan. TSMC has also added a new advanced packaging facility to its U.S. investments.

SAA has a high share of TSMC’s advanced packaging stocker orders due to its flexibility in accommodating TSMC’s requirements. SAA also benefits from the addition of TSMC’s new advanced packaging facility in the U.S.

In 2025, SAA’s revenue and EPS are expected to exceed the market consensus due to strong TSMC advanced packaging stocker orders. SAA began small-volume shipments in the fourth quarter of 2024 and is expected to deliver large-volume shipments starting April 2025.

SAA will begin shipping to TSMC’s overseas plants in the U.S. and Germany in the fourth quarter of 2025 as the exclusive packaging stocker supplier. This is key to ensuring continued quarter-on-quarter growth in the fourth quarter of 2025. U.S. orders will become a critical growth driver from 2026 onward.

High gross margin semiconductor products will be SAA’s biggest growth driver in 2025. The semiconductor segment’s contribution to SAA’s revenue will grow significantly from 30-35% in 2024 to 55-60% in 2025, with 37-40% gross margins.

SAA’s 2025 revenue is estimated at NT$7.4-7.7 billion, with gross margins of 34-36%, and EPS of NT$13-15. These figures exceed the market consensus of NT$6.8-7.0 billion revenue, 30-32% gross margins, and EPS of NT$10-12.

In 2026, SAA’s revenue is expected to exceed NT$10 billion, with key growth drivers including AP8, Chiayi Plant, U.S. Facility, CoPoS, SoIC, and EUV Lite Purge Stocker. The stocker system for managing existing EUV pods is estimated to contribute NT$2.5-3.0 billion and NT$3.0-3.5 billion to SAA’s revenue in 2026 and 2027, respectively.

SAA’s current supply share in advanced node stocker remains low, estimated at 20-30% maximum. Since demand for advanced node stockers is several times that of advanced packaging, this represents a potentially massive market for SAA.

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