SÜSS MicroTec

SÜSS MicroTec, based near Munich, makes precision equipment for semiconductor manufacturing, specialising in the machines that coat, align and bond wafers, including the advanced packaging steps that squeeze ever more performance out of modern chips. That focus ties it to the booming demand for advanced semiconductors. SÜSS pays a modest dividend that it has begun to grow as profits rise, though the yield is small because it reinvests to keep pace with the chip cycle. The appeal is a rising payout attached to strong exposure to structural semiconductor growth rather than a high current yield.