Major Estimate Revision • 21h
Consensus EPS estimates fall by 21%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from NT$21.1b to NT$21.4b. EPS estimate fell from NT$5.42 to NT$4.27 per share. Net income forecast to grow 6.0% next year vs 58% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$75.00 to NT$67.00. Share price was steady at NT$64.60 over the past week. Reported Earnings • May 15
First quarter 2026 earnings released: EPS: NT$0.91 (vs NT$1.32 in 1Q 2025) First quarter 2026 results: EPS: NT$0.91 (down from NT$1.32 in 1Q 2025). Revenue: NT$5.04b (flat on 1Q 2025). Net income: NT$403.0m (down 31% from 1Q 2025). Profit margin: 8.0% (down from 12% in 1Q 2025). Revenue is forecast to grow 6.2% 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, earnings per share has increased by 19% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 01
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to NT$67.90. The fair value is estimated to be NT$56.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 9.8% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Buy Or Sell Opportunity • Mar 16
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to NT$66.40. The fair value is estimated to be NT$54.13, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 7.8% in 2 years. Earnings are forecast to grow by 39% in the next 2 years. Reported Earnings • Mar 14
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: NT$4.60 (down from NT$6.64 in FY 2024). Revenue: NT$19.6b (down 6.4% from FY 2024). Net income: NT$2.04b (down 31% from FY 2024). Profit margin: 10% (down from 14% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 2.4%. Revenue is forecast to grow 4.0% 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, earnings per share has increased by 25% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Annonce • Mar 12
Everlight Electronics Co., Ltd., Annual General Meeting, Jun 09, 2026 Everlight Electronics Co., Ltd., Annual General Meeting, Jun 09, 2026. Location: 3 floor no,469, chung yang rd., sinjhuang district, new taipei city Taiwan Reported Earnings • Nov 17
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: NT$1.29 (up from NT$1.25 in 3Q 2024). Revenue: NT$4.92b (down 12% from 3Q 2024). Net income: NT$571.3m (up 3.0% from 3Q 2024). Profit margin: 12% (up from 10.0% in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.8%. Revenue is forecast to grow 3.6% 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 increased by 28% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Price Target Changed • Sep 20
Price target decreased by 12% to NT$82.67 Down from NT$93.50, the current price target is an average from 3 analysts. New target price is 32% above last closing price of NT$62.40. Stock is down 21% over the past year. The company is forecast to post earnings per share of NT$4.72 for next year compared to NT$6.64 last year. Buy Or Sell Opportunity • Sep 05
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to NT$63.40. The fair value is estimated to be NT$83.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 0.4% in a year. Earnings are forecast to grow by 1.1% in the next year. Price Target Changed • Sep 01
Price target decreased by 7.8% to NT$88.50 Down from NT$96.00, the current price target is an average from 2 analysts. New target price is 31% above last closing price of NT$67.50. Stock is down 19% over the past year. The company is forecast to post earnings per share of NT$4.73 for next year compared to NT$6.64 last year. Annonce • Aug 27
Everlight Electronics Co., Ltd. Convicts for Stealing World-First Technology The Supreme Court of Korea has recently upheld a lower court ruling convicting Taiwan-based Everlight Electronics Co., Ltd. of violating the Act on Prevention and Protection of Industrial Technology for misappropriating Seoul Semiconductor Co., Ltd.'s patented LED technology. Everlight was indicted for bribing three former employees of Seoul Semiconductor to misappropriate core technologies developed over decades of R&D, including the world’s first No-wire second-generation LED technology and advanced UV LED technologies. The former employees who leaked the technologies were also sentenced to prison terms. Although Everlight initially appealed its first-trial conviction for trade secret infringement, the appellate court determined that Seoul Semiconductor’s technologies went beyond ordinary trade secrets and qualified as advanced national industrial technologies under Korea’s Industrial Technology Protection Act, adding further charges. Last week, the Supreme Court upheld the lower court’s ruling, making the conviction final. Industry experts view the Supreme Court’s ruling as a meaningful precedent that will foster research and development while advancing the quality of human life. The decision confirms that Korea’s criminal jurisdiction can be effectively applied to foreign companies, and that under the principle of dual liability, both individuals and corporations can be held accountable. This ruling serves as a strong warning to both domestic and overseas companies attempting to steal technology, either directly or indirectly. At the same time, it is expected to encourage fair competition and creative innovation. In addition to the technology theft litigation, Seoul Semiconductor has vigorously pursued Everlight’s patent infringements. Over the past seven years, the company has won all 16 patent lawsuits across five countries, securing court orders prohibiting sales and mandating the recall of infringing products. Seoul Semiconductor is closely tracking the enforcement of the rulings and making sure companies aren’t disregarding them to save costs. For the past 30 years, Seoul Semiconductor has dedicated itself to the research and development of optical semiconductors, amassing more than 18,000 patents—an unparalleled portfolio in the LED industry. These are not merely numbers; they include core technologies that define the second generation of the LED industry, such as the world’s first No-wire technology (essential for MicroLED display manufacturing) and the world’s first RGB 1-chip technology. Today, Seoul Semiconductor stands as the world’s No. 1 in LED backlight technology, No. 1 in UV LEDs, and No. 3 in the global LED industry overall, solidifying its position as a leading optical semiconductor company. Reported Earnings • Aug 15
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$0.73 (down from NT$1.85 in 2Q 2024). Revenue: NT$5.07b (down 8.7% from 2Q 2024). Net income: NT$323.3m (down 61% from 2Q 2024). Profit margin: 6.4% (down from 15% in 2Q 2024). Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) also missed analyst estimates by 7.0%. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 28
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$21.9b to NT$21.5b. EPS estimate also fell from NT$5.43 per share to NT$4.78 per share. Net income forecast to shrink 19% next year vs 16% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$96.00 to NT$93.50. Share price fell 3.9% to NT$80.60 over the past week. Buy Or Sell Opportunity • May 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.5% to NT$81.30. The fair value is estimated to be NT$102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 4.2% in a year. Earnings are forecast to decline by 17% in the next year. Reported Earnings • May 16
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: NT$1.32 (down from NT$1.67 in 1Q 2024). Revenue: NT$5.03b (up 2.5% from 1Q 2024). Net income: NT$584.2m (down 21% from 1Q 2024). Profit margin: 12% (down from 15% in 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 4.4% 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 increased by 22% per year and the company’s share price has also increased by 22% per year. Annonce • May 06
Everlight Electronics Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 Everlight Electronics Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$68.20, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$97.37 per share. Buy Or Sell Opportunity • Apr 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to NT$76.50. The fair value is estimated to be NT$97.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.9% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 8.5% in 2 years. Earnings are forecast to decline by 9.5% in the next 2 years. Reported Earnings • Mar 23
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$6.64 (up from NT$3.32 in FY 2023). Revenue: NT$21.0b (up 18% from FY 2023). Net income: NT$2.94b (up 100% from FY 2023). Profit margin: 14% (up from 8.2% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.9%. Revenue is forecast to grow 4.1% 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, earnings per share has increased by 13% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Mar 19
Now 20% undervalued Over the last 90 days, the stock has risen 5.6% to NT$82.90. The fair value is estimated to be NT$104, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. Annonce • Mar 14
Everlight Electronics Co., Ltd., Annual General Meeting, Jun 11, 2025 Everlight Electronics Co., Ltd., Annual General Meeting, Jun 11, 2025. Location: 3 floor no,469, chung yang rd., sinjhuang district, new taipei city Taiwan Annonce • Mar 06
Everlight Electronics Co., Ltd. to Report Fiscal Year 2024 Results on Mar 13, 2025 Everlight Electronics Co., Ltd. announced that they will report fiscal year 2024 results on Mar 13, 2025 Buy Or Sell Opportunity • Feb 12
Now 21% undervalued Over the last 90 days, the stock has risen 11% to NT$86.00. The fair value is estimated to be NT$108, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. Annonce • Dec 26
Jin-Da-Yi Opto (SuZhou) agreed to acquire an unknown stake in VBest Electronics (Kunshan) Ltd from Everlight Electronics Co., Ltd. (TWSE:2393) for CNY 270 million. Jin-Da-Yi Opto (SuZhou) agreed to acquire an unknown stake in VBest Electronics (Kunshan) Ltd from Everlight Electronics Co., Ltd. (TWSE:2393) for CNY 270 million on May 13, 2024.
The transaction is subject to approval of merger agreement by target board. The deal has been approved by the board. Reported Earnings • Nov 17
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: NT$1.25 (up from NT$0.91 in 3Q 2023). Revenue: NT$5.56b (up 23% from 3Q 2023). Net income: NT$554.7m (up 37% from 3Q 2023). Profit margin: 10.0% (up from 9.0% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Nov 05
Everlight Electronics Co., Ltd. to Report Q3, 2024 Results on Nov 12, 2024 Everlight Electronics Co., Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024 Major Estimate Revision • Sep 04
Consensus EPS estimates increase by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$20.8b to NT$21.3b. EPS estimate increased from NT$4.90 to NT$5.87 per share. Net income forecast to grow 19% next year vs 31% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$80.00 to NT$97.00. Share price rose 4.9% to NT$81.70 over the past week. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$1.85 (vs NT$1.05 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.85 (up from NT$1.05 in 2Q 2023). Revenue: NT$5.56b (up 26% from 2Q 2023). Net income: NT$819.6m (up 77% from 2Q 2023). Profit margin: 15% (up from 11% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Annonce • Aug 06
Everlight Electronics Co., Ltd. to Report Q2, 2024 Results on Aug 13, 2024 Everlight Electronics Co., Ltd. announced that they will report Q2, 2024 results on Aug 13, 2024 Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$65.00, the stock trades at a trailing P/E ratio of 16.4x. Average forward P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 29% over the past three years. Declared Dividend • Jul 18
Dividend increased to NT$3.20 Dividend of NT$3.20 is 28% higher than last year. Ex-date: 1st August 2024 Payment date: 30th August 2024 Dividend yield will be 4.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.8% over the next year, which should provide support to the dividend and adequate earnings cover. Annonce • Jul 17
Everlight Electronics Co., Ltd. Approves the Cash Dividend, Payable on August 30, 2024 Everlight Electronics Co., Ltd. approved the cash dividend of TWD 1,152,822,024, TWD 2.6 per share. Ex-rights (ex-dividend) record date of August 9, 2024. Payment date of common stock cash dividend distribution on August 30, 2024. Major Estimate Revision • May 21
Consensus EPS estimates increase by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$19.3b to NT$20.8b. EPS estimate increased from NT$4.09 to NT$4.90 per share. Net income forecast to grow 22% next year vs 29% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$63.50 to NT$68.00. Share price was steady at NT$69.90 over the past week. Reported Earnings • May 18
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: NT$1.67 (up from NT$1.04 in 1Q 2023). Revenue: NT$4.91b (up 9.4% from 1Q 2023). Net income: NT$741.4m (up 61% from 1Q 2023). Profit margin: 15% (up from 10% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 30%. Revenue is forecast to grow 8.2% 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, earnings per share has fallen by 11% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Annonce • May 06
Everlight Electronics Co., Ltd. to Report Q1, 2024 Results on May 13, 2024 Everlight Electronics Co., Ltd. announced that they will report Q1, 2024 results on May 13, 2024 Buy Or Sell Opportunity • Apr 10
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to NT$61.50. The fair value is estimated to be NT$49.37, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 9.4%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 37% in the next 2 years. Reported Earnings • Mar 18
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: NT$3.32 (up from NT$2.78 in FY 2022). Revenue: NT$17.8b (down 10% from FY 2022). Net income: NT$1.47b (up 20% from FY 2022). Profit margin: 8.2% (up from 6.2% in FY 2022). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 8.2% 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 9% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Annonce • Mar 17
Everlight Electronics Co., Ltd., Annual General Meeting, Jun 12, 2024 Everlight Electronics Co., Ltd., Annual General Meeting, Jun 12, 2024. Annonce • Mar 14
Everlight Electronics Co., Ltd. Announces the Appointment of Lo-Yen Chu as Internal Audit Officer Everlight Electronics Co., Ltd. announced the appointment of Lo-Yen Chu as Internal audit officer. Name, title, and resume of the new position holder: Lo-Yen Chu, Director of the Audit Center Resume-Asus Computer Inc., Internal audit supervisor, Product manager. Effective date: March 13, 2024. BOD of the Company has approved the new internal audit officer. Board Change • Jan 19
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. No experienced directors. 7 highly experienced directors. Independent Director Liang-Gee Chen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Aug 19
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$19.0b to NT$17.5b. EPS estimate also fell from NT$4.18 per share to NT$3.73 per share. Net income forecast to grow 40% next year vs 6.2% growth forecast for Semiconductor industry in Taiwan. Consensus price target of NT$54.33 unchanged from last update. Share price was steady at NT$48.40 over the past week. Reported Earnings • Aug 15
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: NT$1.05 (up from NT$0.89 in 2Q 2022). Revenue: NT$4.40b (down 14% from 2Q 2022). Net income: NT$464.3m (up 18% from 2Q 2022). Profit margin: 11% (up from 7.7% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 20%. Revenue is forecast to grow 8.2% 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 3% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Jul 26
Upcoming dividend of NT$2.50 per share at 4.8% yield Eligible shareholders must have bought the stock before 02 August 2023. Payment date: 31 August 2023. Payout ratio is on the higher end at 90%, however this is supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.2%). Annonce • Jul 18
Everlight Electronics Co., Ltd. Declares Cash Dividend, Payable on August 31, 2023 Everlight Electronics Co., Ltd. total Distribution of TWD 1,108,482,715, TWD 2.5 per share for the year 2022, at the meeting held on July 17, 2023. Ex-rights (ex-dividend) trading date is August 02, 2023; Ex-rights (ex-dividend) record date is August 08, 2023; Payment date of cash dividend distribution is August 31, 2023. Annonce • Jul 17
Everlight Electronics Co., Ltd. Announces the Resignation of Wu-Liu Tsai as Director Everlight Electronics Co., Ltd. announced the resignation of Wu-Liu Tsai as Director. Date of occurrence of the change is July 15, 2023. Price Target Changed • Jun 29
Price target increased by 9.8% to NT$54.33 Up from NT$49.50, the current price target is an average from 3 analysts. New target price is 6.1% above last closing price of NT$51.20. Stock is up 24% over the past year. The company is forecast to post earnings per share of NT$4.18 for next year compared to NT$2.78 last year. Reported Earnings • May 17
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: NT$1.04 (down from NT$1.05 in 1Q 2022). Revenue: NT$4.48b (down 19% from 1Q 2022). Net income: NT$461.2m (flat on 1Q 2022). Profit margin: 10% (up from 8.4% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 177%. Revenue is forecast to grow 9.6% 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 increased by 11% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Mar 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: NT$2.78 (down from NT$4.38 in FY 2021). Revenue: NT$19.9b (down 21% from FY 2021). Net income: NT$1.23b (down 37% from FY 2021). Profit margin: 6.2% (down from 7.8% in FY 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 5.1% 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 20% per year whereas the company’s share price has increased by 22% per year. Annonce • Dec 23
Everlight Electronics Co., Ltd. Appoints Chun-Yu Lu as Corporate Governance Officer Everlight Electronics Co., Ltd. announced the appointment of Chun-Yu Lu, Associate Director of Financial and Accounting Center, as Corporate governance officer of the company, with effect from December 21, 2022. BOD of the Company has approved the new corporate governance officer. Buying Opportunity • Dec 12
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$47.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 5.0% in 2 years. Earnings is forecast to grow by 2.8% in the next 2 years. Annonce • Nov 25
Everlight Electronics Co., Ltd. Announces Resignation of Chun-Yi Tsou as Corporate Governance Officer Everlight Electronics Co., Ltd. announced resignation of Chun-Yi Tsou as corporate governance officer. Name, title, and resume of the previous position holder: Chun-Yi Tsou, Manager of Finance Division; Reason for the change: Resignation; Effective date is November 23, 2022; Any other matters that need to be specified: Chun-Yu Lu will be the acting corporate governance officer. A further announcement will be made after the board of directors of the Company appoints the new corporate governance officer. Reported Earnings • Nov 19
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: NT$0.96 (down from NT$1.38 in 3Q 2021). Revenue: NT$4.78b (down 28% from 3Q 2021). Net income: NT$424.2m (down 30% from 3Q 2021). Profit margin: 8.9% (down from 9.2% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) exceeded analyst estimates by 22%. Revenue is forecast to grow 2.7% 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 30% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target decreased to NT$44.00 Down from NT$49.50, the current price target is an average from 2 analysts. New target price is 18% above last closing price of NT$37.30. Stock is down 27% over the past year. The company is forecast to post earnings per share of NT$3.52 for next year compared to NT$4.37 last year. Reported Earnings • Aug 15
Second quarter 2022 earnings: EPS misses analyst expectations Second quarter 2022 results: EPS: NT$0.89 (down from NT$1.37 in 2Q 2021). Revenue: NT$5.14b (down 24% from 2Q 2021). Net income: NT$394.6m (down 35% from 2Q 2021). Profit margin: 7.7% (down from 9.0% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.3%. Over the next year, revenue is forecast to stay flat compared to a 20% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 27
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 03 August 2022. Payment date: 31 August 2022. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 8.5%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (3.7%). Major Estimate Revision • Jul 23
Consensus revenue estimates fall by 17% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from NT$25.5b to NT$21.2b. EPS estimate fell from NT$4.38 to NT$3.62 per share. Net income forecast to shrink 12% next year vs 12% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$53.50 to NT$49.50. Share price was steady at NT$42.00 over the past week. Annonce • Jun 18
Everlight Electronics Co., Ltd. Announces Distribution for the Year 2021 Everlight Electronics Co., Ltd. total Distribution of TWD 1,551,875,801, TWD 3.5 per share for the year 2021, at the AGM held on June 17, 2022. Annonce • Jun 11
Everlight Electronics Co., Ltd. Announces Executive Changes Everlight Electronics Co., Ltd. announced resignation of Yu-Keng Shih, Director of Financial and Accounting Center of the Company effective June 10, 2022. Chun-Yu Lu will be the acting financial officer and Man-Ning Li will be the acting corporate governance officer. A further announcement will be made after the audit committee and the board of directors of the Company appoints the new financial officer and the new corporate governance officer. Annonce • Jun 02
Everlight Electronics Co., Ltd. Announces Change of the Spokesperson Everlight Electronics Co., Ltd. announced the change of Spokesperson. Date of occurrence of the change: June 1, 2022. Name, title, and resume of the previous position holder: Yu-Keng Shih, Director of Financial and Accounting Center of the Company. Name, title, and resume of the new position holder: Wu-Liu Tsai, Executive Vice President of the Company. Type of the change: Position adjustment. Effective date June 1, 2022. Reported Earnings • May 15
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$1.05 (up from NT$1.03 in 1Q 2021). Revenue: NT$5.52b (down 6.3% from 1Q 2021). Net income: NT$463.5m (up 1.2% from 1Q 2021). Profit margin: 8.4% (up from 7.8% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 66%. Over the next year, revenue is forecast to grow 5.9%, compared to a 23% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to NT$53.50 Down from NT$66.33, the current price target is an average from 2 analysts. New target price is 24% above last closing price of NT$43.05. Stock is down 7.8% over the past year. The company is forecast to post earnings per share of NT$4.38 for next year compared to NT$4.37 last year. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Senior VP & Director Wu-Yan Yeh was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Senior VP & Director Wu-Yan Yeh was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Apr 01
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$26.7b to NT$25.5b. EPS estimate also fell from NT$5.27 per share to NT$4.38 per share. Net income forecast to grow 0.1% next year vs 26% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$66.33 to NT$56.33. Share price fell 3.8% to NT$48.40 over the past week. Price Target Changed • Mar 29
Price target decreased to NT$58.00 Down from NT$67.75, the current price target is an average from 3 analysts. New target price is 18% above last closing price of NT$49.00. Stock is up 6.3% over the past year. The company is forecast to post earnings per share of NT$4.34 for next year compared to NT$4.37 last year. Reported Earnings • Mar 28
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: NT$4.37 (up from NT$2.79 in FY 2020). Revenue: NT$25.0b (up 16% from FY 2020). Net income: NT$1.94b (up 57% from FY 2020). Profit margin: 7.8% (up from 5.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.6%. Over the next year, revenue is forecast to grow 6.6%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.38 (vs NT$1.04 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$6.62b (up 13% from 3Q 2020). Net income: NT$609.7m (up 32% from 3Q 2020). Profit margin: 9.2% (up from 7.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 26
Price target increased to NT$68.10 Up from NT$63.10, the current price target is an average from 3 analysts. New target price is 23% above last closing price of NT$55.30. Stock is up 57% over the past year. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$1.37 (vs NT$0.88 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$6.76b (up 20% from 2Q 2020). Net income: NT$608.3m (up 55% from 2Q 2020). Profit margin: 9.0% (up from 6.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 12
Upcoming dividend of NT$2.25 per share Eligible shareholders must have bought the stock before 19 August 2021. Payment date: 16 September 2021. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$56.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$59.52 per share. Executive Departure • Aug 05
Non-Independent Director Zheng-Li Yang has left the company On the 29th of July, Zheng-Li Yang's tenure as Non-Independent Director ended after 21.3 years in the role. We don't have any record of a personal shareholding under Zheng-Li's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 11.00 years. Board Change • Aug 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Director & Executive VP Wu-Liu Tsai was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Jul 21
Consensus EPS estimates increase to NT$4.73 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from NT$24.6b to NT$25.2b. EPS estimate increased from NT$4.23 to NT$4.73 per share. Net income forecast to grow 30% next year vs 35% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$52.02 to NT$55.68. Share price was steady at NT$55.90 over the past week. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 17% share price gain to NT$44.95, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Semiconductor industry in Taiwan. Total returns to shareholders of 32% over the past three years. Major Estimate Revision • May 20
Consensus EPS estimates increase to NT$3.92 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from NT$23.4b to NT$24.3b. EPS estimate increased from NT$3.32 to NT$3.92 per share. Net income forecast to grow 10% next year vs 35% growth forecast for Semiconductor industry in Taiwan. Consensus price target of NT$47.75 unchanged from last update. Share price rose 5.2% to NT$41.50 over the past week. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$1.03 (vs NT$0.14 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$5.89b (up 30% from 1Q 2020). Net income: NT$458.1m (up NT$397.1m from 1Q 2020). Profit margin: 7.8% (up from 1.3% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.