Reported Earnings • May 18
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: NT$3.00 loss per share (further deteriorated from NT$2.26 loss in 1Q 2025). Revenue: NT$326.4m (up 20% from 1Q 2025). Net loss: NT$166.2m (loss widened 45% from 1Q 2025). Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 56%. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. New Risk • May 17
New major risk - Revenue and earnings growth Earnings have declined by 64% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 64% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.3% average weekly change). New Risk • Apr 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Price Target Changed • Mar 21
Price target decreased by 13% to NT$418 Down from NT$479, the current price target is an average from 2 analysts. New target price is 119% above last closing price of NT$191. Stock is down 49% over the past year. The company is forecast to post earnings per share of NT$7.58 next year compared to a net loss per share of NT$8.20 last year. Reported Earnings • Mar 17
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: NT$8.20 loss per share (down from NT$0.037 profit in FY 2024). Revenue: NT$1.48b (up 7.0% from FY 2024). Net loss: NT$415.3m (down NT$417.2m from profit in FY 2024). Revenue missed analyst estimates by 37%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Announcement • Mar 10
Andes Technology Corporation, Annual General Meeting, May 28, 2026 Andes Technology Corporation, Annual General Meeting, May 28, 2026, at 10:00 Taipei Standard Time. Location: 4 floor no,1, kung yeh tung 2nd rd., hsinchu science park, hsinchu city Taiwan Price Target Changed • Feb 01
Price target increased by 18% to NT$479 Up from NT$407, the current price target is an average from 3 analysts. New target price is 100% above last closing price of NT$239. Stock is down 38% over the past year. The company is forecast to post earnings per share of NT$0.21 for next year compared to NT$0.037 last year. Reported Earnings • Nov 15
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: NT$0.17 (up from NT$0.035 loss in 3Q 2024). Revenue: NT$466.5m (up 8.8% from 3Q 2024). Net income: NT$8.46m (up NT$10.3m from 3Q 2024). Profit margin: 1.8% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 84%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • Oct 27
Andes Technology Corporation has filed a Follow-on Equity Offering in the amount of TWD 118.35 million. Andes Technology Corporation has filed a Follow-on Equity Offering in the amount of TWD 118.35 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 450,000
Price\Range: TWD 263 Reported Earnings • Aug 17
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: NT$5.58 loss per share (further deteriorated from NT$1.54 loss in 2Q 2024). Revenue: NT$279.5m (flat on 2Q 2024). Net loss: NT$282.9m (loss widened 263% from 2Q 2024). Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 155%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Price Target Changed • Jul 22
Price target decreased by 8.1% to NT$407 Down from NT$442, the current price target is an average from 5 analysts. New target price is 51% above last closing price of NT$269. Stock is down 32% over the past year. The company is forecast to post earnings per share of NT$0.64 for next year compared to NT$0.037 last year. Buy Or Sell Opportunity • Jun 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to NT$269. The fair value is estimated to be NT$338, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 15
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: NT$2.26 loss per share (further deteriorated from NT$1.00 loss in 1Q 2024). Revenue: NT$271.3m (up 27% from 1Q 2024). Net loss: NT$114.5m (loss widened 125% from 1Q 2024). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 129%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Announcement • May 06
Andes Technology Corporation has filed a Follow-on Equity Offering. Andes Technology Corporation has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 1,000,000
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 4,000,000
Transaction Features: Rights Offering Announcement • Apr 29
Andes Technology Corporation to Report Q1, 2025 Results on May 05, 2025 Andes Technology Corporation announced that they will report Q1, 2025 results at 9:00 AM, Taipei Standard Time on May 05, 2025 Announcement • Apr 24
Andes Technology and Imagination Technologies Showcase Android 15 on High-Performance RISC-V Based Platform Andes Technology in collaboration with Imagination Technologies announced the successful demonstration of Android 15 (Vanilla Ice Cream) running on a high-performance RISC-V-based hardware system. This achievement highlights the growing potential of RISC-V as a platform for rich operating systems and advanced graphical applications. The demonstration leverages Andes' Voyager Board, powered by its Qilai SoC, in combination with Imagination's GPU integrated within a graphics card. Together, the companies are showcasing a highly capable, fully operational Android system built on open hardware standards. The demonstration will be featured at the 2025 Andes RISC-V CON Silicon Valley, taking place on April 29th at the Doubletree by Hilton Hotel in San Jose. At the heart of the demonstration is a Voyager Development Board, built around Andes' 7nm Qilai RISC-V SoC. Key features include: Quad-core Andes AX45MP running at 2.2 GHz, powering the Android kernel. This processor is Andes' most widely licensed for rich OS environments, offering a strong balance of performance, power efficiency, and area optimization. NX27V Vector Processor at 1.5 GHz, featuring a 512-bit Vector Processing Unit (VPU) designed for parallel data processing -- ideal for machine learning, image processing, and signal processing workloads. Graphics performance is enables by the Imagination BXT-32-1024 GPU integrated into the graphics card, which delivers: 48 Gpixels/sec fill rate; 1.5 TFLOPS (FP32) of floating-point performance; Dual 4K display support at 60 fps; Full compatibility with modern graphics and compute APIs including OpenGL ES 3.2, Vulkan 1.3, and OpenCL 3.0. This powerful combination ensures a responsive and immersive Android experience on RISC-V hardware. This demonstration marks a significant milestone in the evolution of RISC-V and GPU integration. The powerful combination of Andes' RISC-V CPU cores and Imagination's cutting-edge GPU capabilities opens up new possibilities for embedded, AI and high-performance Android applications. Buy Or Sell Opportunity • Apr 15
Now 24% overvalued Over the last 90 days, the stock has fallen 19% to NT$292. The fair value is estimated to be NT$235, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 72% in 2 years. Earnings are forecast to grow by 23,809% in the next 2 years. Reported Earnings • Mar 26
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: NT$0.04 (up from NT$2.01 loss in FY 2023). Revenue: NT$1.38b (up 31% from FY 2023). Net income: NT$1.89m (up NT$103.6m from FY 2023). Profit margin: 0.1% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 22%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Mar 07
Andes Technology Corporation, Annual General Meeting, May 29, 2025 Andes Technology Corporation, Annual General Meeting, May 29, 2025. Location: 4 floor no,1, kung yeh tung 2nd rd., hsinchu science park, hsinchu city Taiwan Announcement • Feb 27
Andes Technology Corporation to Report Q4, 2024 Results on Mar 06, 2025 Andes Technology Corporation announced that they will report Q4, 2024 results on Mar 06, 2025 New Risk • Feb 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Dec 09
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to NT$402. The fair value is estimated to be NT$330, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 18
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: NT$0.04 loss per share (down from NT$2.05 profit in 3Q 2023). Revenue: NT$428.6m (up 73% from 3Q 2023). Net loss: NT$1.79m (down 102% from profit in 3Q 2023). Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 77%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Announcement • Nov 01
Andes Technology Corporation to Report Q3, 2024 Results on Nov 08, 2024 Andes Technology Corporation announced that they will report Q3, 2024 results on Nov 08, 2024 Announcement • Oct 18
Andes Announces the AndesCore AX66 supporting RVA23, Multi-cluster, Hypervisor and Android Andes Technology announced the AndesCore AX66 out-of-order superscalar multicore processor IP supporting the RVA23 profile. The AX66 is the 2nd member of the high-performance out-of-order AX60 series. Built on the success of the AX65 with the same 13-stage pipeline, 4-wide decode, and 8-wide out-of-order execution, the AX66 introduces many new features, including Vector and Vector Crypto support, Hypervisor and AIA, Multi-Cluster support with CHI, and RVA23 profile support. AX66's versatile capabilities on performance scalability, multimedia, security, and virtualization makes it an ideal main processor in high-performance Linux and Android applications such as edge/data center AI, infotainment, networking, and vision/camera applications. The AX66 boosts the SpecInt2006 performance over the 1st generation AX65 by more than 15%. Each core has 64KB private L1 instruction and data caches and up to 1MB private L2 cache, and each cluster contains up to 8 cores and a shared L3 cache up to 32MB. Besides the IO coherence interface already in the AX65, the AX66 adds a Coherence Hub Interface (CHI) for multi-cluster coherence. With the CHI interface support, the company can use much more AX66 CPUs to work together in the same cache-coherent domain. Together with the Hypervisor, AIA and optional IOMMU technologies, the AX66 can fully virtualize the entire multi-cluster CPU subsystem for resource sharing and security. Moreover, the AX66 supports the RISC-V standard external debug and instruction trace interfaces to facilitate fast system development, analysis and debugging. The AndesCore™? AX 66 is to be available for lead customers in Fourth Quarter 2024 through the early access program and for general customers in 2025. Price Target Changed • Sep 04
Price target decreased by 9.1% to NT$469 Down from NT$516, the current price target is an average from 5 analysts. New target price is 46% above last closing price of NT$321. Stock is down 25% over the past year. The company is forecast to post a net loss per share of NT$1.98 next year compared to a net loss per share of NT$2.01 last year. Reported Earnings • Aug 17
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: NT$1.54 loss per share (further deteriorated from NT$0.83 loss in 2Q 2023). Revenue: NT$278.4m (up 55% from 2Q 2023). Net loss: NT$77.8m (loss widened 85% from 2Q 2023). Revenue missed analyst estimates by 6.6%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 02
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.6% to NT$353. The fair value is estimated to be NT$464, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company became loss making. Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. Independent Director Jiun-Hao Lai was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jul 30
Andes Technology Corporation to Report Q2, 2024 Results on Aug 06, 2024 Andes Technology Corporation announced that they will report Q2, 2024 results on Aug 06, 2024 Reported Earnings • May 19
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: NT$1.00 loss per share (improved from NT$1.08 loss in 1Q 2023). Revenue: NT$213.1m (down 5.3% from 1Q 2023). Net loss: NT$50.8m (loss narrowed 6.8% from 1Q 2023). Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) exceeded analyst estimates by 16%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • May 01
Andes Technology Corporation to Report Q1, 2024 Results on May 07, 2024 Andes Technology Corporation announced that they will report Q1, 2024 results on May 07, 2024 Reported Earnings • Mar 24
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: NT$2.01 loss per share (down from NT$7.03 profit in FY 2022). Revenue: NT$1.06b (up 14% from FY 2022). Net loss: NT$101.7m (down 129% from profit in FY 2022). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Mar 07
Andes Technology Corporation, Annual General Meeting, May 24, 2024 Andes Technology Corporation, Annual General Meeting, May 24, 2024. Location: No.1, Gongye E. 2nd Rd., Hsinchu Science Park (4F, Meeting Room: Bach) Taiwan Agenda: To consider Report 2023 business report; to consider Audit Committee's review report; to consider Report on 2023 employees' profit sharing bonus and directors' compensation; to consider Report on the 2023 cash dividend distribution; to consider Amendment to the Company's" Sustainable Development Best Practice; to consider Adoption of the 2023 business report and financial statements; and to consider other matters. Price Target Changed • Feb 28
Price target increased by 9.3% to NT$527 Up from NT$483, the current price target is an average from 5 analysts. New target price is 8.6% above last closing price of NT$486. Stock is down 14% over the past year. The company is forecast to post earnings per share of NT$1.09 for next year compared to NT$7.03 last year. Announcement • Jan 05
Andes Technology Corporation Announces General Availability of the New RISC-V Out-Of-Order Superscalar Multicore Processor, the AndesCore™ AX65 Andes Technology Corporation announced general availability of the high-performance AndesCore™ AX65 out-of-order superscalar multicore processor IP. The AX65 is the first of the high-performance out-of-order AX60 series. Equipped with 13-stage pipeline, 4-wide decode, 8-wide out-of-order execution, AX65 targets the Linux application processor sockets of computing, networking, and high-end controllers. It also received "Best IP/Processor of the Year" Award from EE Times Asia last December. Andes has been very successful on the embedded controllers and high-performance AI vector processors. As RISC-V ecosystem for Linux is getting matured, the demand for high-performance RISC-V processors for general-purpose applications rises. Andes takes this opportunity to introduce the AX65 to complete its comprehensive CPU lineup, spanning from low-power embedded solutions to high-end Out-of-Order processors. Customers who develop complex SOC can now use AX65 as the primary Linux application processor, the AX45MPV/NX27V for the vector/DSP processing and the N25/N225 processors as the resource and power manager. Leveraging the entire range of CPUs in the AndesCore™? families enables customers to streamline their development process, benefit from integrated support, and significantly reduce development cost. The AX65 operates at speeds exceeding 2.0GHz on a 12nm process, boasting a SpecInt2006 score of 8.25 per GHz -- outperforming the Cortex A75 with an efficient memory hierarchy. It also supports up to 8-core cache coherence with maximum 8MB shared cache. The AX65 is fully compliant with the RISC-V RVA22 profile, ensuring compatibility with operating systems and software within the RISC-V ecosystem. On the security side, AX65 supports Enhanced PMP (ePMP) for further securing memory accesses, and K (scalar cryptography) extension for accelerating AES and SHA crypto operations. For running Linux OS, the AX65 supports VIPT L1 instruction cache, SV48 virtual address space, and 2-level TLB with simultaneous hardware page walkers. It also incorporates branch prediction mechanism with TAGE-L algorithm, return address stack and 2-level branch target buffer. The AX65 can be used as an application processor in networking applications like Wi-Fi, 5Gnr, and O-RAN, as well as in edge computing and industrial PCs. Furthermore, it is well-suited for serving as the primary controller processor in embedded applications. Announcement • Oct 18
Andes Technology Unveils Andes D23 and N225 Cores Pioneering the Next Generation of Compact, Performant, and Secure RISC-V Processor Technology Andes Technology announced the release of its latest innovation - the AndesCore™? D23 and N225 RISC-V processors. Specifically designed to cater to the dynamic needs of the Internet of Things (IoT) and embedded systems, these cores epitomize Andes' unwavering commitment to delivering cutting-edge technology for the interconnected world. The D23 and N225 cores have been meticulously engineered with compactness, performance-efficiency, low-power consumption, flexibility, and security as top priorities. These cores empower IoT and embedded chip and device manufacturers to meet the burgeoning demands of a rapidly evolving market while minimizing power usage and ensuring robust security. Andes announced the popular N22, a 2-stage pipeline AndesCore implementing RV32I/EMAC ISA back in February 2019, targeting deeply embedded processing and having a performance of 3.95 Coremark/MHz and 1.8 DMIPS/MHz. The D23 and N 225 are revamped designs with a new microarchitecture and the latest RISC-V extensions to offer better performance, smaller code size, and more security support. They provide a good migration path for customers looking to upgrade their N22 designs or kick-off a new design. Common Key Features of AndesCore D23 and N225: Latest RISC-V Extensions Support: The N225 implements the RV32 IMACBZce non-privileged extensions as well as Machine/User modes and Enhanced Physical Memory Protection (ePMP). The D23 additionally supports the FDKP extensions (Single/Double-Precision Floating-Point, Scalar Crypto and Packed SIMD/DSP draft), and CMO (Cache Management Operations) extension. The D23 is also incorporated with Supervisor mode and its associated PMP (sPMP) for higher security. High Performance: Both cores achieve performance in their class, boasting outstanding benchmark scores such as 4.55 (D23) and 4.4 (N225) Coremark/MHz, and 2.08 (D23) and 1.92 (N225) DMIPS/MHz, respectively. They are capable of operating at high frequencies across various technology nodes such as near 800 MHz at 28nm, providing the necessary computing power for edge IoT devices with ever-increasing performance and feature demands. Power Management: Both cores support advanced power management technologies such as PowerBrake and Wait-For-Interrupt (WFI) and Wait-For-Event (WFE), ensuring prolonged battery life for many types of untethered IoT devices. Small Code Size: The N22 already offers code size with Andes CoDense™? technology. With the addition of the new RISC-V Zce code size reduction extension, the D23 and N225 further reduce 4.4% code size for the Embench-IoT benchmark, compared to the N22. This provides additional memory cost-saving for Andes customers. Flexibility: Both cores offer extensive configurability, including optimized multipliers for performance or area, optional static or dynamic branch prediction, various combinations of privilege modes, instruction and data. Local memories with sizes from 1 KB to 512 MB, and 2-wire or 4-wire JTAG debug interface. Designers can tailor these features to address their specific application requirements. In addition to the above-mentioned shared features and latest RISC-V extensions, the D23 core boasts additional capabilities, including built-in instruction and data cache, and ECC soft error protection for all cache and local memories. It can also seamlessly integrate with the powerful ACE™? (Andes Custom Extension) to support custom instructions for Domain-Specific Acceleration (DSA) and has a roadmap to include a functional safety derivative. These expanded capabilities open up opportunities for the D23 to serve a wider range of segments in automotive and industrial control applications. Announcement • Sep 09
Andes Technology Announces General Availability of the New Andescore Risc-V Multicore Vector Processor Ax45mpv Andes Technology announced general availability of the high-performance AndesCore™? AX45MPV multicore vector processor IP. The AX45MPV is the third generation of the award winning AndesCore™? vector processor series. Equipped with powerful RISC-V vector processing and parallel execution capability, it targets the applications with large volumes of data such as ADAS, AI inference and training, AR/VR, multimedia, robotics, and signal processing. Andes and Meta started collaboration on datacenter AI with RISC-V vector core from early 2019. Andes later unveiled the AndesCore™? NX27V, marking a significant milestone as the industry's first commercial RISC-V vector processor core with the capability of generating up to 4 512-bit vector (VLEN) results per cycle, at the end of 2019. It immediately attracted the attention of worldwide SoC design teams working on AI accelerators, and has landed over a dozen datacenter AI projects. Since then, the RISC-V vector processor cores have become the choice for ML and AI chip vendors. With the goal to further raise the compute density, the AX45MPV extends the capabilities of the dual-issue 8-stage pipeline, Linux support and multicore of the AX45MP with the powerful vector processing unit inherited and enhanced from its predecessor, the NX27V. While the AX45MPV is essentially a Linux application processor with datacenter grade AI capabilities, its support for Linux and multicore can be left out to form an efficient and powerful compute processor in processing elements (PEs) of a large compute array. The AX45MPV also supports the latest ACE (Andes Custom Extension™?), which facilitates customers to create their own RISC-V styled vector instructions. For example, ACE can be used to accelerate nonlinear math functions such as SoftMax on Transformer AI. Some customers from Asia and North America have already licensed the AX45MPV, and more are evaluating it. Their applications cover a wide range from the cloud to the edge. The AX45MPV standard product package, without Linux support, is available immediately. Its advanced product package will come with Linux support and will be available in Fourth Quarter 2023. Major Estimate Revision • Aug 18
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$1.14b to NT$1.07b. Now expected to report a loss of NT$0.40 per share instead of NT$1.99 per share profit previously forecast. Semiconductor industry in Taiwan expected to see average net income growth of 7.7% next year. Consensus price target down from NT$525 to NT$500. Share price was steady at NT$416 over the past week. Reported Earnings • Aug 15
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: NT$0.83 loss per share (down from NT$1.42 profit in 2Q 2022). Revenue: NT$179.2m (up 28% from 2Q 2022). Net loss: NT$42.0m (down 158% from profit in 2Q 2022). Revenue missed analyst estimates by 31%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. New Risk • Aug 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (35% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (19% net profit margin). Upcoming Dividend • Jun 20
Upcoming dividend of NT$1.50 per share at 0.3% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.1%). Announcement • Jun 07
Andes Technology Corporation Approves Cash Dividend, Payable on July 25, 2023 Andes Technology Corporation approved cash dividend from earnings of TWD 75,976,367 (TWD 1.5 per share). Date of the resolution by the board of directors or shareholders meeting or decision by the company: June 6, 2023. Ex-rights (ex-dividend) trading date is June 27, 2023. Ex-rights (ex-dividend) record date is July 3, 2023. Payment date of cash dividend distribution is July 25, 2023. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$485, the stock trades at a forward P/E ratio of 243x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 310% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$235 per share. Announcement • May 17
Andes Technology Corporation Announces the New Product Line, AndesAIRE™?, Ultimately Efficient AI/ML Solutions for Edge and End-Point Inference Andes Technology Corporation announced the launch of new product line, AndesAIRE or Andes AI Runs Everywhere, ultimately efficient solutions designed for edge and end-point inference, including the first generation of AI/ML hardware accelerator intellectual property (IP), the AndesAIRE AnDLA™? I350 (Andes Deep Learning Accelerator), and the neural network software tools and renewables, the AndesAIRE™? NN SDK. performance-efficient deep learning solutions that can operate at the edge and end- point, where the strict power and energy constraints make it difficult to only rely on CPU architecture. The AnDLA™ I350 is specifically designed to address this challenge by delivering industry-leading efficiency, low power, and small area, making it ideal for use in a wide range of edge inference applications, from smart IoT devices and smart cameras to smart home appliances and robotics. Price Target Changed • May 03
Price target decreased by 10% to NT$525 Down from NT$584, the current price target is an average from 2 analysts. New target price is 19% above last closing price of NT$442. Stock is up 35% over the past year. The company is forecast to post earnings per share of NT$1.99 for next year compared to NT$7.03 last year. Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: NT$7.03 (vs NT$3.59 in FY 2021) Full year 2022 results: EPS: NT$7.03 (up from NT$3.59 in FY 2021). Revenue: NT$931.8m (up 14% from FY 2021). Net income: NT$355.9m (up 120% from FY 2021). Profit margin: 38% (up from 20% in FY 2021). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 42% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has increased by 97% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Jiun-Hao Lai was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: NT$5.77 (up from NT$0.99 in 3Q 2021). Revenue: NT$271.1m (up 41% from 3Q 2021). Net income: NT$292.5m (up NT$248.6m from 3Q 2021). Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Announcement • Nov 03
Andes Technology Unveils the AndesCore® AX60 Series, an Out-of-Order Superscalar Multicore RISC-V Processor Family At Linley Fall Processor Conference 2022, Andes Technology, a leading provider of high efficiency, low power 32/64-bit RISC-V processor cores and founding premier member of RISC-V International, reveals its top-of-the-line AndesCore® AX60 series of power and area efficient out-of-order 64-bit processors. The family of processors are intended to run heavy-duty OS and applications with compute intensive requirements such as advanced driver-assistance systems (ADAS), artificial intelligence (AI), augmented/virtual reality (AR/VR), datacenter accelerators, 5G infrastructure, high-speed networking, and enterprise storage. The first member of the AX60 series, the AX65, supports the latest RISC-V architecture extensions such as the scalar cryptography extension and bit manipulation extension. It is a 4-way superscalar with Out-of-Order (OoO) execution in a 13-stage pipeline. It fetches 4 to 8 instructions per cycle guided by highly accurate TAGE branch predictor with loop prediction to ensure fetch efficiency. It then decodes, renames and dispatches up to 4 instructions into 8 execution units, including 4 integer units, 2 full load/store units, and 2 floating-point units. Besides the load/store units, the AX65’s aggressive memory subsystem also includes split 2-level TLBs with multiple concurrent table walkers and up to 64 outstanding load/store instructions. AX65 supports multicore cluster with cache coherence to scale out performance. Each core has 64KB private instruction and data caches. The cluster contains up to 8 cores, an in-cluster coherence manager and a shared cache up to 8MB. Its IO coherence interface keeps all AX65 caches coherent with respect to the external IO transactions and allows ease of SoC integration. The coherence manager and the shared cache can use a clock asynchronous to the cores for overall performance optimization in SoC mplementations. Moreover, AX65 supports RISC-V standard external debug and instruction trace interfaces to facilitate fast system development, analysis and debugging. Announcement • Oct 18
Andes Technology Announces the N25F-SE Processor, the World First RISC-V CPU IP with ISO 26262 Full Compliance Andes Technology announces its safety-enhanced AndesCore® N25F-SE is the first RISC-V CPU IP certified to be fully compliant with ISO 26262 functional safety standards for the development of automotive applications. SGS-TÜV Saar GmbH, an independent functional safety certification body, has assessed and completed product audit process for N25F-SE with achieved functional safety for ASIL B (Automotive Safety Integrity Level B) applications, according to all applicable ISO 26262 series of standards including Parts 2, 4, 5, 8 and 9. AndesCore® N25F-SE. The N25F-SE is a 32-bit RISC-V CPU core that supports standard IMACFD extensions, including efficient integer instructions and single/double precision floating point instructions. It incorporates the Andes V5 extension instructions to further boost performance and reduce code size. The efficient 5-stage pipeline of the N25F-SE provides a good balance of high operating frequency and compact design. Its flexible interfaces greatly simplify SoC designs. Like its sought-after cousin the N25F, the N25F-SE comes with rich configurable options, all of which are fully certified, and thus SoC design teams are not limited by one fixed CPU configuration when offering automotive solutions. ISO 26262 and ASIL-B Applications. ISO 26262 defines functional safety as the “absence of unreasonable risk due to hazards caused by malfunctioning behavior of electrical/electronic systems”. To enforce functional safety with a reasonable cost structure, proper safety measures for desired ASIL levels should be applied, from the least stringent ASIL A to the most stringent ASIL D. Examples of electronic systems where ASIL B is sufficient are dashboard, in-car monitoring, keyless entry, lighting control, tire pressure monitoring, vision ADAS, and window control. Either to incorporate new electronic systems on board, or to upgrade existing ones without ISO 26262 compliance, the N25F-SE is well suited for the wide range of applications requiring ASIL B compliance. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$352, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 182% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$512 per share. Buying Opportunity • Oct 11
Now 27% undervalued Over the last 90 days, the stock is up 56%. The fair value is estimated to be NT$510, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 83%. Revenue is forecast to grow by 53% in a year. Earnings is forecast to grow by 58% in the next year. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improved over the past week After last week's 22% share price gain to NT$325, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 167% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$564 per share. Reported Earnings • Aug 13
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: NT$1.42 (up from NT$1.41 in 2Q 2021). Revenue: NT$140.1m (down 32% from 2Q 2021). Net income: NT$71.9m (up 20% from 2Q 2021). Profit margin: 51% (up from 29% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 23%. Earnings per share (EPS) exceeded analyst estimates by 246%. Over the next year, revenue is forecast to grow 43%, compared to a 20% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Announcement • Jul 21
Andes Technology RISC-V Processors Reveal Outstanding Performance and Efficiency in MLPerf Tiny Andes Technology Corporation submits MLPerf Tiny v0.7 benchmark for Andes V5 RISC-V processors, including the AndesCore™ D25F and D45 (with DSP/SIMD Extension) and AndesCore™ NX27V (with Vector Extension). The MLPerf Tiny benchmark suite is intended for the lowest power devices and smallest form factors, such as deeply embedded, intelligent sensing, and internet-of-things applications. The remarkable out-of-box results reveal the outstanding Andes processor capabilities with performance and power consumption. The out-of-box results of the MLPerf Tiny v0.7 are enabled by high-performance AndesCore™ and the enhanced “TensorFlow Lite for Microcontroller” with “Andes NN Library”. AndesCore™ V5 processors with DSP/SIMD (P draft) and Vector (V) Extensions are designed for applications needing highly efficient or intensive data computation. RISC-V DSP/SIMD Extension (RVP) efficiently addresses the requirements of low-volume data computation with straightforward hardware implementation for low power consumption without handcraft optimization in the model and software package. According to the Visual Wake Words and Image Classification scores, at the same 200MHz, Andes V5 RVP cores can deliver 11 fps on the D25F and 15 fps on the D45F while typical MCUs are only capable of 6-7 fps. By providing the compact and efficient SIMD and DSP capabilities, the D25F and the D45 processors form a very comprehensive and competitive basis for the TinyML, AIoT, and signal processing applications on edges and endpoints. RISC-V Vector Extension (RVV) targets high-volume data computation. No matter in the edge or cloud, the NX27V processor provides scalable, efficient, and powerful compute capabilities for general AI, NN, and data processing applications. Moreover, “Andes NN Library” dramatically speeds up the development of Neural Network algorithms with 17.3x speedup of MobileNet-v1 INT8 using AndesCore™ NX27V with the 128-bit vector configuration over the same core executing only RISC-V baseline (scalar) instructions. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$254, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 123% over the past three years. Upcoming Dividend • Jun 15
Upcoming dividend of NT$2.85 per share Eligible shareholders must have bought the stock before 22 June 2022. Payment date: 19 July 2022. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (6.1%). Lower than average of industry peers (3.1%). Announcement • Jun 07
Andes Technology Corporation Announces Cash Dividend for 2021, Payable on July 19, 2022 Andes Technology Corporation announced cash dividend of TWD 2.84887117 per share or TWD 144,297,920 for 2021, payable on July 19, 2022 with Ex-rights (ex-dividend) trading date of June 22, 2022 and Ex-rights (ex-dividend) record date of June 28, 2022. Major Estimate Revision • May 24
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from NT$1.15b to NT$1.09b. EPS estimate rose from NT$4.97 to NT$7.61. Net income forecast to grow 57% next year vs 13% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$600 to NT$450. Share price fell 7.7% to NT$317 over the past week. Reported Earnings • May 09
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$2.46 (up from NT$0.65 in 1Q 2021). Revenue: NT$211.0m (up 40% from 1Q 2021). Net income: NT$124.4m (up 350% from 1Q 2021). Profit margin: 59% (up from 18% in 1Q 2021). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 7.7%. Earnings per share (EPS) also surpassed analyst estimates by 12,200%. Over the next year, revenue is forecast to grow 43%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to NT$600 Down from NT$800, the current price target is provided by 1 analyst. New target price is 100% above last closing price of NT$300. Stock is down 37% over the past year. The company is forecast to post earnings per share of NT$4.97 for next year compared to NT$3.59 last year. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Jiun-Hao Lai was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: NT$3.59 (up from NT$0.82 in FY 2020). Revenue: NT$819.8m (up 41% from FY 2020). Net income: NT$161.7m (up 360% from FY 2020). Profit margin: 20% (up from 6.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 3.8%. Over the next year, revenue is forecast to grow 40%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Announcement • Mar 10
Andes Technology Corporation Proposes Cash Dividend Andes Technology Corporation announced Year or quarter which dividends belong to: 2021. Appropriations of earnings in cash dividends to shareholders. TWD 2.84887117. Total amount of cash distributed to shareholders TWD 144,297,920. Announcement • Dec 03
Andes Technology Corporation Announces RISC-V Superscalar Multicore A(X)45MP and Vector Processor NX27V Upgrade Their Spec. and Performance Andes Technology Corporation announces its superscalar multicore AndesCore 45MP family and the first commercial RISC-V vector processor IP, AndesCore NX27V, upgrade their spec and performance. The 8-stage superscalar multiprocessor A(X)45MP was announced one year ago. It supports up to four cores and is equipped with DSP, single/double precision FPU (floating-point unit), and Linux-capable Memory Management Unit. Compared with the previous versions, the upgraded 32-bit A45MP and 64-bit AX45MP deliver up to 3x memory bandwidth while raising the floating-point performance by over 20% as measured by Whetstone benchmark. The latency for Level-1 Cache miss and Level-2 Cache hit is reduced by half and it leads to the outstanding 3.4 SPECint2006/GHz performance. In addition, the upgrade also includes RISC-V trace interface and debug spec. The NX27V, supporting the RISC-V Vector Extension spec v1.0-rc1, is upgraded with full configurations of 128-bit to 512-bit VLEN/SIMD/MEM. For vector data types, the NX27V now implements FP16 to FP64 and Int8 to Int64 as well as Andes-enhanced BF16 and Int4 for optimized AI data representations. The NX27V contains a scalar unit and an Out-of-Order Vector Processing Unit with a dedicated interface called Streaming Port to efficiently exchange a large amount of data between NX27V registers and an external hardware engine. The NX27V comes with standard development tools and optimized RVV compute libraries. OpenCL with integrated LLVM compiler is available to enable parallel programming on heterogeneous architecture using multiple NX27V processors and a host processor such as the AX45MP. With the all 512-bit configuration, the NX27V can achieve over 98x speedup comparing with pure C program and 66% higher performance for MobileNet-v1 benchmark than the all 256-bit configuration. The NX27V targets the applications with large volumes of data such as AI, AR/VR, computer vision, cryptography, and multimedia. Announcement • Nov 25
HPMicro Semiconductor Announces the Release of the HPM6000 Series of Microcontrollers with AndesCore™ dual D45 cores HPMicro Semiconductor and Andes Technology jointly released the HPM6000 series, the real-time RISC-V microcontrollers with the world’s strongest performance. The flagship product, HPM6750, adopts dual RISC-V AndesCore™ D45 cores, is equipped with innovative bus architecture, efficient level-1 cache and local memory, and has set a new performance record of over 9000 CoreMark and 4000 DMIPS, with a main frequency of up to 800MHz. It can provide powerful computing power for edge computing and other applications. The whole series of HPM6000 MCU, including multi-core HPM6750, single-core HPM6450, and entry-level HPM6120, are all equipped with double-precision floating-point operations and powerful DSP extension instructions, built-in 2MB SRAM, rich multimedia functions, motor control modules, communication interface and security encryption. The HPM6000 series; providing high efficiency, low power consumption, and high security; can be used widely in popular applications such as industry 4.0, smart home appliances, the terminal of financial payment systems, edge computing, and IoT. AndesCore™ D45 is one member of the 45 series of Andes Technology RISC-V family. It adopts in-order 8-stage dual-issue superscalar architecture, with optimized load and store pipeline design and advanced branch prediction and supports IEEE 754 single/double-precision floating-point unit (FPU) and RISC-V P-extension (DSP/SIMD) instruction. The 45 series cores also have local memory subsystem, as well as configurable, high-speed data and instruction caches. For SoCs that support mass storage, like HPM6000 series, can enhance its software performance. D45 core is very suitable for embedded applications that have special response time and real-time accuracy requirements. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.99 (vs NT$0.69 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$192.2m (up 84% from 3Q 2020). Net income: NT$43.9m (up NT$73.3m from 3Q 2020). Profit margin: 23% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has increased by 97% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 10
Andes Technology Corp. Brings Its Broad Family of RISC-V CPU IP to the Silicon Catalyst Semiconductor Incubator Andes Technology Corporation announced that it has joined Silicon Catalyst’s In-Kind Partner program. Andes Technology will make available a wide range of its RISC-V processors to startups participating in the Silicon Catalyst incubator program. These include all Andes RISC-V offerings between the smallest N22 to its multicore 5-stage pipeline 25 and 27 families with P extension, floating point, L2 cache controller and memory management unit. Incubator startups will also have access to Andes’ AE250 Pre-integrated AHB platform, AE350 Pre-integrated AXI platform, and AndeSight Eclipse-based Integrated Development Environment.
The mission of Silicon Catalyst is to lower the capital expenses associated with the design and fabrication of silicon-based IC’s, sensors, and MEMS devices. For over seven years, the Silicon Catalyst partner ecosystem has enabled early-stage companies to build complex silicon chips at a fraction of the typical cost. Silicon Catalyst has created a unique ecosystem to provide critical support to semiconductor hardware start-ups, including tools and services from a comprehensive network of In-Kind Partners (IKPs). The Portfolio Companies in the incubator utilize IKP tools and services including design tools, simulation software, design services, foundry PDK access and MPW runs, test program development, tester access, and banking and legal services. Additionally, the startups can tap into the world-class Silicon Catalyst network of advisors and investors. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$1.41 (vs NT$0.41 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$207.4m (up 104% from 2Q 2020). Net income: NT$60.1m (up NT$77.8m from 2Q 2020). Profit margin: 29% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Jul 15
Chairman Ming-Kai Tsai has left the company On the 7th of July, Ming-Kai Tsai's tenure as Chairman ended. We don't have any record of a personal shareholding under Ming-Kai's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Announcement • Jun 10
AndesBoardFarm Enables SoC Designers to Explore RISC-V Processors in Online FPGA Board Collection Andes Technology Corporation announced AndesBoardFarm, a collection of on-line accessible FPGA boards and management software for SoC designers to experience the AndesCore RISC-V processors remotely from their local sites. By using the comprehensive AndeSight integrated development environment provided by Andes, designers can interactively try out their own software on Andes latest CPU cores over the internet to experiment on the performance test and get the results directly; at the same time, they can also explore the various hardware and software features offered by Andes. By taking advantage of the AndesBoardFarm services, the time and efforts for evaluating RISC-V processors will be greatly reduced, and designers will be able to pinpoint the best RISC-V CPU(s) for their SoCs with confidence. Upcoming Dividend • Jun 04
Upcoming dividend of NT$0.74 per share Eligible shareholders must have bought the stock before 11 June 2021. Payment date: 15 July 2021. Trailing yield: 0.2%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (2.1%). Announcement • May 28
Andes Technology Corporation Announces Cash Dividend, Payable on July 15, 2021 Andes Technology Corporation announced Cash dividend from earnings of TWD 31,627,627 payable on July 15, 2021. Ex-rights (ex-dividend) trading date is June 11, 2021. Ex-rights (ex-dividend) record date is June 20, 2021. Reported Earnings • May 13
First quarter 2021 earnings released: EPS NT$0.65 (vs NT$0.89 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$151.1m (up 43% from 1Q 2020). Net income: NT$27.7m (up NT$65.4m from 1Q 2020). Profit margin: 18% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Reported Earnings • Mar 05
Full year 2020 earnings released: EPS NT$0.82 (vs NT$0.38 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$581.0m (up 17% from FY 2019). Net income: NT$35.1m (up 119% from FY 2019). Profit margin: 6.0% (up from 3.2% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 20%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 6.4%, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Announcement • Mar 04
Andes Technology Corporation Compensation Committee Changes Andes Technology Corporation Appointed New Compensation Committee Member. Name of the functional committees: Remuneration Committee. Name and resume of the previous position holder: Hsiao-Ping Lin, Chairman of M31 Technology Corporation. Name and resume of the new position holder: Chun-Hao LAI, Independent director of Silicon Optronics Inc. and TrueLight Corporation. Circumstances of change: new appointment. Reason for the change: the previous member passed away. Effective date of the new member: 2021/03/02. Announcement • Mar 03
Andes Technology Corporation, Annual General Meeting, May 25, 2021 Andes Technology Corporation, Annual General Meeting, May 25, 2021. Location: No.1, Gongye E. 2nd Rd., Hsinchu Science Park 2F, Meeting Room: Darwin Hsinchu Taiwan Agenda: To report the business of 2020; to consider audit committee review report on the 2020 financial statement; to report 2020 employees' profit sharing bonus and directors and supervisors' compensation; to report the 2020 cash dividend distribution; to suspend the non-competition restriction on the company's newly elected directors; to approve to respectively or simultaneously pursue the newly issued common shares as result of cash capital increase for sponsoring issuance of GDR and/or local rights issues for common shares; to approve issuance of restricted stock awards of the company; and to consider election of directors. Is New 90 Day High Low • Feb 18
New 90-day high: NT$447 The company is up 71% from its price of NT$262 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 35% over the same period. Announcement • Jan 28
Andes Technology Corp. Announces EdgeQ to Deliver Converged 5G and Ai Silicon Platform with AndesCore™ RISC-V License Andes Technology Corporation announced that EdgeQ will utilize an AndesCore™ RISC-V license to deliver industry’s first fully open and programmable 5G platform with integrated AI. EdgeQ has licensed the Andes core with Andes Custom Extension™ (ACE). ACE enables EdgeQ to design, extend, and customize their own instruction sets to achieve novel performance, features, and power profiles unmet by today’s solutions for the wireless infrastructure. Is New 90 Day High Low • Jan 22
New 90-day high: NT$393 The company is up 144% from its price of NT$161 on 23 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 45% over the same period. Announcement • Jan 11
Andes Technology Corporation Announces Demise of Hsiao-Ping Lin, Independent Director Andes Technology Corporation announced the demise of Hsiao-Ping Lin, Independent Director of the company.