SELL ASM Pacific Technology Core Pacific-Yamaichi has advised investors to 'sell and take profit'. Analyst HC Kwan said worldwide chip sales grew 12.3 per cent in the first five months. But the pace of recovery was slow, he said, and the industry would grow at a pedestrian rate of about 10 per cent annually compared with historical rates of between 15 and 17 per cent. Mr Kwan believed a surge of more than 50 per cent in ASM Pacific shares fully reflected the chip industry's recovery. He has target price of $22 for the counter. HOLD Texwinca Holdings Sun Hung Kai Financial has raised its rating from 'sell' to 'hold', citing the counter's attractive valuation. Last week, Texwinca reported a full-year net profit of $591 million, slightly below expectations. Texwinca shares slumped as a result. Now trading at 12.3 times forward earnings, the company looked appealing, analyst Carrie Chan said. She has raised her price target from $6 to $6.60. Still, she cut her net profit estimate for the year to March by 8.8 per cent to $664 million.