Chang Wah Technology (6548) 주식 개요는 대만, 아시아 및 국제적으로 LED 리드 프레임 및 성형 복합 재료를 개발, 제조 및 판매하는 회사입니다. 자세히 보기6548 펀더멘털 분석스노우플레이크 점수가치 평가0/6미래 성장5/6과거 실적1/6재무 건전성5/6배당2/6강점수익은 매년 44.13% 증가할 것으로 예상됩니다.위험 분석2.17%의 배당금은 수익이나 자유현금흐름으로 잘 충당되지 않습니다.지난 3개월 동안 주가 변동성이 TW 시장과 비교해 높았습니다.모든 위험 점검 보기6548 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueNT$Current PriceNT$82.9039.4% 저평가 내재 할인율Growth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture037b2016201920222025202620282031Revenue NT$37.3bEarnings NT$4.2bAdvancedSet Fair ValueView all narrativesChang Wah Technology Co., Ltd. 경쟁사Sino-American Silicon ProductsSymbol: TPEX:5483Market cap: NT$88.1bTopco ScientificLtdSymbol: TWSE:5434Market cap: NT$86.5bMarketech InternationalSymbol: TWSE:6196Market cap: NT$110.2bVisual Photonics EpitaxySymbol: TWSE:2455Market cap: NT$65.7b가격 이력 및 성과Chang Wah Technology 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가NT$82.9052주 최고가NT$98.1052주 최저가NT$30.00베타0.781개월 변동57.31%3개월 변동70.58%1년 변동160.69%3년 변동97.62%5년 변동220.82%IPO 이후 변동3,939.96%최근 뉴스 및 업데이트Upcoming Dividend • Jun 10Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 17 June 2026. Payment date: 15 July 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%).Price Target Changed • Jun 09Price target increased by 12% to NT$72.00Up from NT$64.50, the current price target is an average from 3 analysts. New target price is 17% below last closing price of NT$86.50. Stock is up 167% over the past year. The company is forecast to post earnings per share of NT$2.47 for next year compared to NT$1.63 last year.New Risk • May 28New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Earnings have declined by 1.5% per year over the past 5 years.Valuation Update With 7 Day Price Move • May 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$60.30, the stock trades at a trailing P/E ratio of 35.8x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 64% over the past three years.Reported Earnings • May 06First quarter 2026 earnings released: EPS: NT$0.51 (vs NT$0.45 in 1Q 2025)First quarter 2026 results: EPS: NT$0.51 (up from NT$0.45 in 1Q 2025). Revenue: NT$3.67b (up 16% from 1Q 2025). Net income: NT$469.0m (up 12% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). 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 9% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Apr 22Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$61.10, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 69% over the past three years.더 많은 업데이트 보기Recent updatesUpcoming Dividend • Jun 10Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 17 June 2026. Payment date: 15 July 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%).Price Target Changed • Jun 09Price target increased by 12% to NT$72.00Up from NT$64.50, the current price target is an average from 3 analysts. New target price is 17% below last closing price of NT$86.50. Stock is up 167% over the past year. The company is forecast to post earnings per share of NT$2.47 for next year compared to NT$1.63 last year.New Risk • May 28New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Earnings have declined by 1.5% per year over the past 5 years.Valuation Update With 7 Day Price Move • May 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$60.30, the stock trades at a trailing P/E ratio of 35.8x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 64% over the past three years.Reported Earnings • May 06First quarter 2026 earnings released: EPS: NT$0.51 (vs NT$0.45 in 1Q 2025)First quarter 2026 results: EPS: NT$0.51 (up from NT$0.45 in 1Q 2025). Revenue: NT$3.67b (up 16% from 1Q 2025). Net income: NT$469.0m (up 12% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). 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 9% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Apr 22Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$61.10, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 69% over the past three years.Upcoming Dividend • Mar 13Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 20 March 2026. Payment date: 15 April 2026. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (1.4%).Reported Earnings • Mar 11Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: NT$1.63 (down from NT$2.03 in FY 2024). Revenue: NT$13.4b (up 12% from FY 2024). Net income: NT$1.50b (down 21% from FY 2024). Profit margin: 11% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.공시 • Feb 13Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 09, 2026Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 09, 2026. Location: no,2, jen fa 6th rd., renwu district, kaohsiung city TaiwanValuation Update With 7 Day Price Move • Jan 22Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$58.60, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Semiconductor industry in Taiwan. Total returns to shareholders of 119% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$33.40 per share.Upcoming Dividend • Dec 11Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 18 December 2025. Payment date: 14 January 2026. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.5%).New Risk • Dec 04New minor risk - Share price stabilityThe 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (167% cash payout ratio). Share price has been volatile over the past 3 months (6.4% average weekly change).Valuation Update With 7 Day Price Move • Nov 12Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$47.70, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$30.86 per share.Reported Earnings • Nov 06Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: NT$0.56 (up from NT$0.45 in 3Q 2024). Revenue: NT$3.50b (up 12% from 3Q 2024). Net income: NT$514.4m (up 21% from 3Q 2024). Profit margin: 15% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.7%. Revenue is forecast to grow 8.9% 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 21% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.Major Estimate Revision • Oct 31Consensus EPS estimates increase by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$13.2b to NT$13.4b. EPS estimate increased from NT$1.37 to NT$1.59 per share. Net income forecast to grow 18% next year vs 27% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.07 to NT$44.00. Share price rose 9.1% to NT$40.35 over the past week.Price Target Changed • Oct 30Price target increased by 10% to NT$44.00Up from NT$40.00, the current price target is an average from 3 analysts. New target price is 14% above last closing price of NT$38.70. Stock is up 5.9% over the past year. The company is forecast to post earnings per share of NT$1.59 for next year compared to NT$2.02 last year.Valuation Update With 7 Day Price Move • Oct 08Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$39.25, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 46% over the past three years.Reported Earnings • Aug 10Second quarter 2025 earnings: EPS misses analyst expectationsSecond quarter 2025 results: EPS: NT$0.11 (down from NT$0.54 in 2Q 2024). Revenue: NT$3.25b (up 10.0% from 2Q 2024). Net income: NT$101.7m (down 80% from 2Q 2024). Profit margin: 3.1% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 69%. Revenue is forecast to grow 7.0% 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 fallen by 22% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Major Estimate Revision • Aug 01Consensus EPS estimates fall by 25%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$13.2b to NT$12.9b. EPS estimate also fell from NT$1.83 per share to NT$1.37 per share. Net income forecast to shrink 26% next year vs 13% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$40.00 to NT$38.07. Share price fell 3.1% to NT$30.90 over the past week.Upcoming Dividend • Jun 12Upcoming dividend of NT$0.46 per shareEligible shareholders must have bought the stock before 19 June 2025. Payment date: 16 July 2025. The company last paid an ordinary dividend in April 2016. The average dividend yield among industry peers is 2.3%.Reported Earnings • May 08First quarter 2025 earnings: Revenues and EPS in line with analyst expectationsFirst quarter 2025 results: EPS: NT$0.45 (down from NT$0.47 in 1Q 2024). Revenue: NT$3.18b (up 16% from 1Q 2024). Net income: NT$417.1m (down 4.5% from 1Q 2024). Profit margin: 13% (down from 16% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.6% 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 fallen by 19% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.New Risk • May 04New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.1% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 8.1% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (116% cash payout ratio).Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$30.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total loss to shareholders of 11% over the past three years.Upcoming Dividend • Mar 06Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 13 March 2025. Payment date: 16 April 2025. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.1%).공시 • Feb 21Chang Wah Technology Co., Ltd., Annual General Meeting, May 28, 2025Chang Wah Technology Co., Ltd., Annual General Meeting, May 28, 2025, at 10:00 Taipei Standard Time. Location: no,2, jen fa 6th rd., renwu district, kaohsiung city TaiwanPrice Target Changed • Dec 25Price target increased by 8.8% to NT$46.00Up from NT$42.27, the current price target is an average from 2 analysts. New target price is 39% above last closing price of NT$33.20. Stock is down 2.4% over the past year. The company is forecast to post earnings per share of NT$1.92 for next year compared to NT$1.67 last year.Upcoming Dividend • Dec 12Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 19 December 2024. Payment date: 15 January 2025. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.1%).Reported Earnings • Nov 06Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: NT$0.45 (up from NT$0.45 in 3Q 2023). Revenue: NT$3.13b (up 10% from 3Q 2023). Net income: NT$424.6m (up 1.0% from 3Q 2023). Profit margin: 14% (down from 15% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 9.6% 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 fallen by 9% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Sep 12Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 19 September 2024. Payment date: 16 October 2024. Payout ratio is on the higher end at 93%, and the cash payout ratio is above 100%. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.2%).Reported Earnings • Aug 16Second quarter 2024 earnings: EPS exceeds analyst expectationsSecond quarter 2024 results: EPS: NT$0.54 (up from NT$0.52 in 2Q 2023). Revenue: NT$2.95b (down 1.3% from 2Q 2023). Net income: NT$508.2m (up 5.0% from 2Q 2023). Profit margin: 17% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.1%. Revenue is forecast to grow 9.6% 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 1% per year whereas the company’s share price has remained flat.Upcoming Dividend • Jun 17Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 24 June 2024. Payment date: 17 July 2024. Payout ratio and cash payout ratio are on the higher end at 93% and 84% respectively. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.1%).Reported Earnings • May 18First quarter 2024 earnings released: EPS: NT$0.47 (vs NT$0.41 in 1Q 2023)First quarter 2024 results: EPS: NT$0.47 (up from NT$0.41 in 1Q 2023). Revenue: NT$2.74b (down 3.3% from 1Q 2023). Net income: NT$436.9m (up 15% from 1Q 2023). Profit margin: 16% (up from 13% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.0% 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 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.Major Estimate Revision • Apr 25Consensus EPS estimates increase by 30%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from NT$1.59 to NT$2.06. Revenue forecast steady at NT$12.6b. Net income forecast to grow 16% next year vs 27% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.92 to NT$42.27. Share price rose 9.5% to NT$40.50 over the past week.Reported Earnings • Mar 19Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: NT$1.67 (down from NT$3.01 in FY 2022). Revenue: NT$11.6b (down 20% from FY 2022). Net income: NT$1.56b (down 44% from FY 2022). Profit margin: 14% (down from 20% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.2%. Revenue is forecast to grow 5.6% 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 22% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Mar 07Upcoming dividend of NT$0.40 per shareEligible shareholders must have bought the stock before 14 March 2024. Payment date: 10 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.5%).공시 • Feb 22Chang Wah Technology Co., Ltd., Annual General Meeting, May 30, 2024Chang Wah Technology Co., Ltd., Annual General Meeting, May 30, 2024.New Risk • Feb 02New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.7% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (112% payout ratio). Profit margins are more than 30% lower than last year (14% net profit margin).Upcoming Dividend • Dec 14Upcoming dividend of NT$0.40 per share at 4.7% yieldEligible shareholders must have bought the stock before 21 December 2023. Payment date: 17 January 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.2%).New Risk • Nov 22New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 14% Last year net profit margin: 20% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (14% net profit margin).Major Estimate Revision • Nov 02Consensus EPS estimates fall by 21%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$11.6b to NT$11.3b. EPS estimate also fell from NT$1.97 per share to NT$1.55 per share. Net income forecast to shrink 27% next year vs 8.5% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$45.00 to NT$40.00. Share price was steady at NT$31.80 over the past week.Upcoming Dividend • Sep 14Upcoming dividend of NT$0.40 per share at 4.5% yieldEligible shareholders must have bought the stock before 21 September 2023. Payment date: 18 October 2023. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.3%).Reported Earnings • Aug 09Second quarter 2023 earnings released: EPS: NT$0.52 (vs NT$0.84 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.52 (down from NT$0.84 in 2Q 2022). Revenue: NT$2.99b (down 21% from 2Q 2022). Net income: NT$484.1m (down 38% from 2Q 2022). Profit margin: 16% (down from 21% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 2 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 45% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth.New Risk • Jul 28New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 11% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Valuation Update With 7 Day Price Move • Jul 13Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$35.80, the stock trades at a trailing P/E ratio of 13.5x. Average forward P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 217% over the past three years.Upcoming Dividend • Jun 01Upcoming dividend of NT$0.81 per share at 3.8% yieldEligible shareholders must have bought the stock before 08 June 2023. Payment date: 12 July 2023. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.3%).Major Estimate Revision • May 09Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$13.2b to NT$13.0b. EPS estimate also fell from NT$2.12 per share to NT$1.87 per share. Net income forecast to shrink 36% next year vs 18% decline forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.00 to NT$45.00. Share price fell 2.5% to NT$41.35 over the past week.Price Target Changed • May 08Price target increased by 20% to NT$45.00Up from NT$37.60, the current price target is provided by 1 analyst. New target price is 8.8% above last closing price of NT$41.35. Stock is up 19% over the past year. The company is forecast to post earnings per share of NT$1.87 for next year compared to NT$3.01 last year.Reported Earnings • Mar 18Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2022 results: EPS: NT$3.01 (up from NT$1.92 in FY 2021). Revenue: NT$14.4b (up 13% from FY 2021). Net income: NT$2.82b (up 64% from FY 2021). Profit margin: 20% (up from 13% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 1.6%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Mar 08Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$40.45, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 317% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$24.90 per share.Upcoming Dividend • Dec 08Upcoming dividend of NT$0.70 per shareEligible shareholders must have bought the stock before 15 December 2022. Payment date: 11 January 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.7%).Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jia-Ruey Ou 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. Insufficient board refreshment.Reported Earnings • Nov 06Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2022 results: EPS: NT$1.01 (up from NT$0.64 in 3Q 2021). Revenue: NT$3.68b (up 11% from 3Q 2021). Net income: NT$939.3m (up 64% from 3Q 2021). Profit margin: 26% (up from 17% in 3Q 2021). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 41%. Revenue is expected to decline by 2.4% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 9.9%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth.Price Target Changed • Oct 23Price target decreased to NT$34.00Down from NT$37.60, the current price target is provided by 1 analyst. New target price is 13% above last closing price of NT$30.10. Stock is down 26% over the past year. The company is forecast to post earnings per share of NT$3.07 for next year compared to NT$1.92 last year.Valuation Update With 7 Day Price Move • Oct 05Investor sentiment improved over the past weekAfter last week's 22% share price gain to NT$34.35, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 168% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$32.77 per share.Reported Earnings • Aug 07Second quarter 2022 earnings: EPS exceeds analyst expectationsSecond quarter 2022 results: EPS: NT$2.09 (up from NT$0.88 in 2Q 2021). Revenue: NT$3.78b (up 23% from 2Q 2021). Net income: NT$784.8m (up 152% from 2Q 2021). Profit margin: 21% (up from 10% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 4.9%, compared to a 21% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jun 10Upcoming dividend of NT$1.72 per shareEligible shareholders must have bought the stock before 17 June 2022. Payment date: 13 July 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.9%). Lower than average of industry peers (3.0%).Reported Earnings • May 09First quarter 2022 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2022 results: EPS: NT$1.87 (up from NT$0.67 in 1Q 2021). Revenue: NT$3.63b (up 34% from 1Q 2021). Net income: NT$701.7m (up 196% from 1Q 2021). Profit margin: 19% (up from 8.7% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth.Price Target Changed • Apr 27Price target decreased to NT$108Down from NT$120, the current price target is provided by 1 analyst. New target price is 17% above last closing price of NT$92.60. Stock is up 28% over the past year. The company is forecast to post earnings per share of NT$7.15 for next year compared to NT$4.81 last year.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Ren-Lin Lin was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Price Target Changed • Apr 20Price target decreased to NT$108Down from NT$120, the current price target is provided by 1 analyst. New target price is 9.1% above last closing price of NT$99.00. Stock is up 36% over the past year. The company is forecast to post earnings per share of NT$7.15 for next year compared to NT$4.81 last year.Reported Earnings • Mar 19Full year 2021 earnings: EPS exceeds analyst expectationsFull year 2021 results: EPS: NT$4.81 (up from NT$2.19 in FY 2020). Revenue: NT$12.8b (up 32% from FY 2020). Net income: NT$1.71b (up 122% from FY 2020). Profit margin: 13% (up from 8.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 20%, compared to a 24% growth forecast for the 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 increased by 51% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Dec 02Upcoming dividend of NT$0.68 per shareEligible shareholders must have bought the stock before 09 December 2021. Payment date: 12 January 2022. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (2.1%).Reported Earnings • Nov 10Third quarter 2021 earnings released: EPS NT$1.61 (vs NT$0.78 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$3.33b (up 39% from 3Q 2020). Net income: NT$571.6m (up 107% from 3Q 2020). Profit margin: 17% (up from 12% 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 12% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS NT$0.88 (vs NT$0.57 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$3.07b (up 26% from 2Q 2020). Net income: NT$311.3m (up 55% from 2Q 2020). Profit margin: 10% (up from 8.2% 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 2% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Jul 07Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$91.40, the stock trades at a trailing P/E ratio of 36.6x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 165% over the past three years.Upcoming Dividend • Jun 08Upcoming dividend of NT$0.92 per shareEligible shareholders must have bought the stock before 15 June 2021. Payment date: 14 July 2021. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (2.1%).Reported Earnings • May 08First quarter 2021 earnings released: EPS NT$0.67 (vs NT$0.36 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.72b (up 26% from 1Q 2020). Net income: NT$237.3m (up 86% from 1Q 2020). Profit margin: 8.7% (up from 5.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.분석 기사 • Apr 19Chang Wah Technology (GTSM:6548) Has A Pretty Healthy Balance SheetWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...분석 기사 • Apr 01Chang Wah Technology's (GTSM:6548) Solid Profits Have Weak FundamentalsChang Wah Technology Co., Ltd. ( GTSM:6548 ) just reported some strong earnings, and the market rewarded them with a...공시 • Mar 19Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 07, 2021Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 07, 2021.분석 기사 • Mar 19Should We Be Excited About The Trends Of Returns At Chang Wah Technology (GTSM:6548)?If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd...Reported Earnings • Mar 18Full year 2020 earnings released: EPS NT$2.19 (vs NT$1.72 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$9.68b (up 3.8% from FY 2019). Net income: NT$773.8m (up 27% from FY 2019). Profit margin: 8.0% (up from 6.5% in FY 2019). The increase in margin was 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 19% per year, which means it is well ahead of earnings.분석 기사 • Mar 03What Is Chang Wah Technology Co., Ltd.'s (GTSM:6548) Share Price Doing?While Chang Wah Technology Co., Ltd. ( GTSM:6548 ) might not be the most widely known stock at the moment, it saw a...Is New 90 Day High Low • Feb 18New 90-day high: NT$68.70The company is up 44% from its price of NT$47.55 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.분석 기사 • Feb 16Shareholders of Chang Wah Technology (GTSM:6548) Must Be Delighted With Their 835% Total ReturnBuying shares in the best businesses can build meaningful wealth for you and your family. And we've seen some truly...분석 기사 • Jan 28Are Robust Financials Driving The Recent Rally In Chang Wah Technology Co., Ltd.'s (GTSM:6548) Stock?Most readers would already be aware that Chang Wah Technology's (GTSM:6548) stock increased significantly by 38% over...Is New 90 Day High Low • Jan 25New 90-day high: NT$66.00The company is up 37% from its price of NT$48.15 on 28 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 43% over the same period.분석 기사 • Jan 13Is Chang Wah Technology Co., Ltd. (GTSM:6548) A Smart Choice For Dividend Investors?Dividend paying stocks like Chang Wah Technology Co., Ltd. ( GTSM:6548 ) tend to be popular with investors, and for...Is New 90 Day High Low • Jan 07New 90-day high: NT$64.00The company is up 61% from its price of NT$39.70 on 08 October 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 23% over the same period.분석 기사 • Dec 29Does Chang Wah Technology (GTSM:6548) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...분석 기사 • Dec 12Chang Wah Technology Co., Ltd. (GTSM:6548) Will Pay A NT$0.40 Dividend In Three DaysRegular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Chang Wah...Upcoming Dividend • Dec 10Upcoming Dividend of NT$0.40 Per ShareWill be paid on the 13th of January to those who are registered shareholders by the 17th of December. The trailing yield of 3.0% is below the top quartile of Taiwanese dividend payers (5.1%), but it is higher than industry peers (2.0%).분석 기사 • Dec 09Returns On Capital At Chang Wah Technology (GTSM:6548) Paint An Interesting PictureTo find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...Valuation Update With 7 Day Price Move • Dec 01Market bids up stock over the past weekAfter last week's 24% share price gain to NT$59.50, the stock is trading at a trailing P/E ratio of 27.7x, up from the previous P/E ratio of 22.3x. This compares to an average P/E of 24x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 62%.Is New 90 Day High Low • Nov 27New 90-day high: NT$49.25The company is up 28% from its price of NT$38.50 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 15% over the same period.분석 기사 • Nov 17Is Now An Opportune Moment To Examine Chang Wah Technology Co., Ltd. (GTSM:6548)?While Chang Wah Technology Co., Ltd. (GTSM:6548) might not be the most widely known stock at the moment, it saw a...Reported Earnings • Nov 10Third quarter 2020 earnings released: EPS NT$0.78The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$2.40b (down 2.8% from 3Q 2019). Net income: NT$275.8m (up 50% from 3Q 2019). Profit margin: 12% (up from 7.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year.Valuation Update With 7 Day Price Move • Oct 26Market bids up stock over the past weekAfter last week's 18% share price gain to NT$48.20, the stock is trading at a trailing P/E ratio of 25.5x, up from the previous P/E ratio of 21.7x. This compares to an average P/E of 23x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 35%.Is New 90 Day High Low • Oct 15New 90-day high: NT$42.60The company is up 40% from its price of NT$30.40 on 17 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 21% over the same period.주주 수익률6548TW SemiconductorTW 시장7D-15.5%-8.3%-7.1%1Y160.7%126.6%90.9%전체 주주 수익률 보기수익률 대 산업: 6548은 지난 1년 동안 126.6%의 수익을 기록한 TW Semiconductor 산업보다 더 좋은 성과를 냈습니다.수익률 대 시장: 6548은 지난 1년 동안 90.9%를 기록한 TW 시장보다 더 좋은 성과를 냈습니다.주가 변동성Is 6548's price volatile compared to industry and market?6548 volatility6548 Average Weekly Movement10.4%Semiconductor Industry Average Movement9.7%Market Average Movement6.3%10% most volatile stocks in TW Market12.2%10% least volatile stocks in TW Market2.6%안정적인 주가: 6548의 주가는 지난 3개월 동안 TW 시장보다 변동성이 컸습니다.시간에 따른 변동성: 6548의 주간 변동성(10%)은 지난 1년 동안 안정적이었지만 TW 종목 중 상위 75%보다 높습니다.회사 소개설립직원 수CEO웹사이트2009n/aQuancheng Hongwww.cwtcglobal.com는 대만, 아시아 및 국제적으로 LED 리드 프레임 및 성형 컴파운드 재료를 개발, 제조 및 판매하는 회사입니다. 창와 테크놀로지는 창와 테크놀로지, CWTC(상하이) 주식회사(CWTS), SH 아시아 태평양 Pte. Ltd.더 보기Chang Wah Technology Co., Ltd. 기초 지표 요약Chang Wah Technology의 순이익과 매출은 시가총액과 어떻게 비교됩니까?6548 기초 통계시가총액NT$75.50b순이익 (TTM)NT$1.56b매출 (TTM)NT$13.92b49.2x주가수익비율(P/E)5.5x주가매출비율(P/S)6548는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표6548 손익계산서 (TTM)매출NT$13.92b매출원가NT$10.91b총이익NT$3.01b기타 비용NT$1.45b순이익NT$1.56b최근 보고된 실적Mar 31, 2026다음 실적 발표일해당 없음주당순이익(EPS)1.68총이익률21.61%순이익률11.17%부채/자본 비율66.8%6548의 장기 실적은 어땠습니까?과거 실적 및 비교 보기배당2.2%현재 배당 수익률106%배당 성향6548는 안정적으로 배당을 지급합니까?6548 배당 기록 및 벤치마크 보기다가오는 배당을 받으려면 언제까지 6548를 매수해야 하나요?Chang Wah Technology 배당 일정배당락일Jun 17 2026배당 지급일Jul 15 2026배당락일까지 남은 일수6 days배당 지급일까지 남은 일수34 days6548는 안정적으로 배당을 지급합니까?6548 배당 기록 및 벤치마크 보기View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/06/11 09:30종가2026/06/11 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Chang Wah Technology Co., Ltd.는 3명의 분석가가 다루고 있습니다. 이 중 3명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Licheng ZhuangCapital Securities CorporationJason WangMasterlink Securities Investment AdvisorySi FuSinoPac Securities Investment Service
Upcoming Dividend • Jun 10Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 17 June 2026. Payment date: 15 July 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%).
Price Target Changed • Jun 09Price target increased by 12% to NT$72.00Up from NT$64.50, the current price target is an average from 3 analysts. New target price is 17% below last closing price of NT$86.50. Stock is up 167% over the past year. The company is forecast to post earnings per share of NT$2.47 for next year compared to NT$1.63 last year.
New Risk • May 28New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Earnings have declined by 1.5% per year over the past 5 years.
Valuation Update With 7 Day Price Move • May 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$60.30, the stock trades at a trailing P/E ratio of 35.8x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 64% over the past three years.
Reported Earnings • May 06First quarter 2026 earnings released: EPS: NT$0.51 (vs NT$0.45 in 1Q 2025)First quarter 2026 results: EPS: NT$0.51 (up from NT$0.45 in 1Q 2025). Revenue: NT$3.67b (up 16% from 1Q 2025). Net income: NT$469.0m (up 12% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). 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 9% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Apr 22Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$61.10, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 69% over the past three years.
Upcoming Dividend • Jun 10Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 17 June 2026. Payment date: 15 July 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%).
Price Target Changed • Jun 09Price target increased by 12% to NT$72.00Up from NT$64.50, the current price target is an average from 3 analysts. New target price is 17% below last closing price of NT$86.50. Stock is up 167% over the past year. The company is forecast to post earnings per share of NT$2.47 for next year compared to NT$1.63 last year.
New Risk • May 28New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Earnings have declined by 1.5% per year over the past 5 years.
Valuation Update With 7 Day Price Move • May 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$60.30, the stock trades at a trailing P/E ratio of 35.8x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 64% over the past three years.
Reported Earnings • May 06First quarter 2026 earnings released: EPS: NT$0.51 (vs NT$0.45 in 1Q 2025)First quarter 2026 results: EPS: NT$0.51 (up from NT$0.45 in 1Q 2025). Revenue: NT$3.67b (up 16% from 1Q 2025). Net income: NT$469.0m (up 12% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). 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 9% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Apr 22Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$61.10, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 69% over the past three years.
Upcoming Dividend • Mar 13Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 20 March 2026. Payment date: 15 April 2026. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (1.4%).
Reported Earnings • Mar 11Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: NT$1.63 (down from NT$2.03 in FY 2024). Revenue: NT$13.4b (up 12% from FY 2024). Net income: NT$1.50b (down 21% from FY 2024). Profit margin: 11% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
공시 • Feb 13Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 09, 2026Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 09, 2026. Location: no,2, jen fa 6th rd., renwu district, kaohsiung city Taiwan
Valuation Update With 7 Day Price Move • Jan 22Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$58.60, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Semiconductor industry in Taiwan. Total returns to shareholders of 119% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$33.40 per share.
Upcoming Dividend • Dec 11Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 18 December 2025. Payment date: 14 January 2026. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.5%).
New Risk • Dec 04New minor risk - Share price stabilityThe 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (167% cash payout ratio). Share price has been volatile over the past 3 months (6.4% average weekly change).
Valuation Update With 7 Day Price Move • Nov 12Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$47.70, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$30.86 per share.
Reported Earnings • Nov 06Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: NT$0.56 (up from NT$0.45 in 3Q 2024). Revenue: NT$3.50b (up 12% from 3Q 2024). Net income: NT$514.4m (up 21% from 3Q 2024). Profit margin: 15% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.7%. Revenue is forecast to grow 8.9% 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 21% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
Major Estimate Revision • Oct 31Consensus EPS estimates increase by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$13.2b to NT$13.4b. EPS estimate increased from NT$1.37 to NT$1.59 per share. Net income forecast to grow 18% next year vs 27% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.07 to NT$44.00. Share price rose 9.1% to NT$40.35 over the past week.
Price Target Changed • Oct 30Price target increased by 10% to NT$44.00Up from NT$40.00, the current price target is an average from 3 analysts. New target price is 14% above last closing price of NT$38.70. Stock is up 5.9% over the past year. The company is forecast to post earnings per share of NT$1.59 for next year compared to NT$2.02 last year.
Valuation Update With 7 Day Price Move • Oct 08Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$39.25, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 46% over the past three years.
Reported Earnings • Aug 10Second quarter 2025 earnings: EPS misses analyst expectationsSecond quarter 2025 results: EPS: NT$0.11 (down from NT$0.54 in 2Q 2024). Revenue: NT$3.25b (up 10.0% from 2Q 2024). Net income: NT$101.7m (down 80% from 2Q 2024). Profit margin: 3.1% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 69%. Revenue is forecast to grow 7.0% 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 fallen by 22% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Major Estimate Revision • Aug 01Consensus EPS estimates fall by 25%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$13.2b to NT$12.9b. EPS estimate also fell from NT$1.83 per share to NT$1.37 per share. Net income forecast to shrink 26% next year vs 13% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$40.00 to NT$38.07. Share price fell 3.1% to NT$30.90 over the past week.
Upcoming Dividend • Jun 12Upcoming dividend of NT$0.46 per shareEligible shareholders must have bought the stock before 19 June 2025. Payment date: 16 July 2025. The company last paid an ordinary dividend in April 2016. The average dividend yield among industry peers is 2.3%.
Reported Earnings • May 08First quarter 2025 earnings: Revenues and EPS in line with analyst expectationsFirst quarter 2025 results: EPS: NT$0.45 (down from NT$0.47 in 1Q 2024). Revenue: NT$3.18b (up 16% from 1Q 2024). Net income: NT$417.1m (down 4.5% from 1Q 2024). Profit margin: 13% (down from 16% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.6% 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 fallen by 19% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
New Risk • May 04New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.1% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 8.1% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (116% cash payout ratio).
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$30.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total loss to shareholders of 11% over the past three years.
Upcoming Dividend • Mar 06Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 13 March 2025. Payment date: 16 April 2025. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.1%).
공시 • Feb 21Chang Wah Technology Co., Ltd., Annual General Meeting, May 28, 2025Chang Wah Technology Co., Ltd., Annual General Meeting, May 28, 2025, at 10:00 Taipei Standard Time. Location: no,2, jen fa 6th rd., renwu district, kaohsiung city Taiwan
Price Target Changed • Dec 25Price target increased by 8.8% to NT$46.00Up from NT$42.27, the current price target is an average from 2 analysts. New target price is 39% above last closing price of NT$33.20. Stock is down 2.4% over the past year. The company is forecast to post earnings per share of NT$1.92 for next year compared to NT$1.67 last year.
Upcoming Dividend • Dec 12Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 19 December 2024. Payment date: 15 January 2025. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.1%).
Reported Earnings • Nov 06Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: NT$0.45 (up from NT$0.45 in 3Q 2023). Revenue: NT$3.13b (up 10% from 3Q 2023). Net income: NT$424.6m (up 1.0% from 3Q 2023). Profit margin: 14% (down from 15% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 9.6% 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 fallen by 9% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Sep 12Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 19 September 2024. Payment date: 16 October 2024. Payout ratio is on the higher end at 93%, and the cash payout ratio is above 100%. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.2%).
Reported Earnings • Aug 16Second quarter 2024 earnings: EPS exceeds analyst expectationsSecond quarter 2024 results: EPS: NT$0.54 (up from NT$0.52 in 2Q 2023). Revenue: NT$2.95b (down 1.3% from 2Q 2023). Net income: NT$508.2m (up 5.0% from 2Q 2023). Profit margin: 17% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.1%. Revenue is forecast to grow 9.6% 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 1% per year whereas the company’s share price has remained flat.
Upcoming Dividend • Jun 17Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 24 June 2024. Payment date: 17 July 2024. Payout ratio and cash payout ratio are on the higher end at 93% and 84% respectively. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.1%).
Reported Earnings • May 18First quarter 2024 earnings released: EPS: NT$0.47 (vs NT$0.41 in 1Q 2023)First quarter 2024 results: EPS: NT$0.47 (up from NT$0.41 in 1Q 2023). Revenue: NT$2.74b (down 3.3% from 1Q 2023). Net income: NT$436.9m (up 15% from 1Q 2023). Profit margin: 16% (up from 13% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.0% 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 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.
Major Estimate Revision • Apr 25Consensus EPS estimates increase by 30%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from NT$1.59 to NT$2.06. Revenue forecast steady at NT$12.6b. Net income forecast to grow 16% next year vs 27% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.92 to NT$42.27. Share price rose 9.5% to NT$40.50 over the past week.
Reported Earnings • Mar 19Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: NT$1.67 (down from NT$3.01 in FY 2022). Revenue: NT$11.6b (down 20% from FY 2022). Net income: NT$1.56b (down 44% from FY 2022). Profit margin: 14% (down from 20% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.2%. Revenue is forecast to grow 5.6% 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 22% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Mar 07Upcoming dividend of NT$0.40 per shareEligible shareholders must have bought the stock before 14 March 2024. Payment date: 10 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.5%).
공시 • Feb 22Chang Wah Technology Co., Ltd., Annual General Meeting, May 30, 2024Chang Wah Technology Co., Ltd., Annual General Meeting, May 30, 2024.
New Risk • Feb 02New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.7% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (112% payout ratio). Profit margins are more than 30% lower than last year (14% net profit margin).
Upcoming Dividend • Dec 14Upcoming dividend of NT$0.40 per share at 4.7% yieldEligible shareholders must have bought the stock before 21 December 2023. Payment date: 17 January 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.2%).
New Risk • Nov 22New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 14% Last year net profit margin: 20% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (14% net profit margin).
Major Estimate Revision • Nov 02Consensus EPS estimates fall by 21%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$11.6b to NT$11.3b. EPS estimate also fell from NT$1.97 per share to NT$1.55 per share. Net income forecast to shrink 27% next year vs 8.5% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$45.00 to NT$40.00. Share price was steady at NT$31.80 over the past week.
Upcoming Dividend • Sep 14Upcoming dividend of NT$0.40 per share at 4.5% yieldEligible shareholders must have bought the stock before 21 September 2023. Payment date: 18 October 2023. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.3%).
Reported Earnings • Aug 09Second quarter 2023 earnings released: EPS: NT$0.52 (vs NT$0.84 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.52 (down from NT$0.84 in 2Q 2022). Revenue: NT$2.99b (down 21% from 2Q 2022). Net income: NT$484.1m (down 38% from 2Q 2022). Profit margin: 16% (down from 21% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 2 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 45% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth.
New Risk • Jul 28New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 11% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Valuation Update With 7 Day Price Move • Jul 13Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$35.80, the stock trades at a trailing P/E ratio of 13.5x. Average forward P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 217% over the past three years.
Upcoming Dividend • Jun 01Upcoming dividend of NT$0.81 per share at 3.8% yieldEligible shareholders must have bought the stock before 08 June 2023. Payment date: 12 July 2023. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.3%).
Major Estimate Revision • May 09Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$13.2b to NT$13.0b. EPS estimate also fell from NT$2.12 per share to NT$1.87 per share. Net income forecast to shrink 36% next year vs 18% decline forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.00 to NT$45.00. Share price fell 2.5% to NT$41.35 over the past week.
Price Target Changed • May 08Price target increased by 20% to NT$45.00Up from NT$37.60, the current price target is provided by 1 analyst. New target price is 8.8% above last closing price of NT$41.35. Stock is up 19% over the past year. The company is forecast to post earnings per share of NT$1.87 for next year compared to NT$3.01 last year.
Reported Earnings • Mar 18Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2022 results: EPS: NT$3.01 (up from NT$1.92 in FY 2021). Revenue: NT$14.4b (up 13% from FY 2021). Net income: NT$2.82b (up 64% from FY 2021). Profit margin: 20% (up from 13% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 1.6%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Mar 08Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$40.45, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 317% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$24.90 per share.
Upcoming Dividend • Dec 08Upcoming dividend of NT$0.70 per shareEligible shareholders must have bought the stock before 15 December 2022. Payment date: 11 January 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.7%).
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jia-Ruey Ou 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. Insufficient board refreshment.
Reported Earnings • Nov 06Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2022 results: EPS: NT$1.01 (up from NT$0.64 in 3Q 2021). Revenue: NT$3.68b (up 11% from 3Q 2021). Net income: NT$939.3m (up 64% from 3Q 2021). Profit margin: 26% (up from 17% in 3Q 2021). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 41%. Revenue is expected to decline by 2.4% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 9.9%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Oct 23Price target decreased to NT$34.00Down from NT$37.60, the current price target is provided by 1 analyst. New target price is 13% above last closing price of NT$30.10. Stock is down 26% over the past year. The company is forecast to post earnings per share of NT$3.07 for next year compared to NT$1.92 last year.
Valuation Update With 7 Day Price Move • Oct 05Investor sentiment improved over the past weekAfter last week's 22% share price gain to NT$34.35, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 168% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$32.77 per share.
Reported Earnings • Aug 07Second quarter 2022 earnings: EPS exceeds analyst expectationsSecond quarter 2022 results: EPS: NT$2.09 (up from NT$0.88 in 2Q 2021). Revenue: NT$3.78b (up 23% from 2Q 2021). Net income: NT$784.8m (up 152% from 2Q 2021). Profit margin: 21% (up from 10% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 4.9%, compared to a 21% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jun 10Upcoming dividend of NT$1.72 per shareEligible shareholders must have bought the stock before 17 June 2022. Payment date: 13 July 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.9%). Lower than average of industry peers (3.0%).
Reported Earnings • May 09First quarter 2022 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2022 results: EPS: NT$1.87 (up from NT$0.67 in 1Q 2021). Revenue: NT$3.63b (up 34% from 1Q 2021). Net income: NT$701.7m (up 196% from 1Q 2021). Profit margin: 19% (up from 8.7% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth.
Price Target Changed • Apr 27Price target decreased to NT$108Down from NT$120, the current price target is provided by 1 analyst. New target price is 17% above last closing price of NT$92.60. Stock is up 28% over the past year. The company is forecast to post earnings per share of NT$7.15 for next year compared to NT$4.81 last year.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Ren-Lin Lin was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Price Target Changed • Apr 20Price target decreased to NT$108Down from NT$120, the current price target is provided by 1 analyst. New target price is 9.1% above last closing price of NT$99.00. Stock is up 36% over the past year. The company is forecast to post earnings per share of NT$7.15 for next year compared to NT$4.81 last year.
Reported Earnings • Mar 19Full year 2021 earnings: EPS exceeds analyst expectationsFull year 2021 results: EPS: NT$4.81 (up from NT$2.19 in FY 2020). Revenue: NT$12.8b (up 32% from FY 2020). Net income: NT$1.71b (up 122% from FY 2020). Profit margin: 13% (up from 8.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 20%, compared to a 24% growth forecast for the 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 increased by 51% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Dec 02Upcoming dividend of NT$0.68 per shareEligible shareholders must have bought the stock before 09 December 2021. Payment date: 12 January 2022. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (2.1%).
Reported Earnings • Nov 10Third quarter 2021 earnings released: EPS NT$1.61 (vs NT$0.78 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$3.33b (up 39% from 3Q 2020). Net income: NT$571.6m (up 107% from 3Q 2020). Profit margin: 17% (up from 12% 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 12% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS NT$0.88 (vs NT$0.57 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$3.07b (up 26% from 2Q 2020). Net income: NT$311.3m (up 55% from 2Q 2020). Profit margin: 10% (up from 8.2% 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 2% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Jul 07Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$91.40, the stock trades at a trailing P/E ratio of 36.6x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 165% over the past three years.
Upcoming Dividend • Jun 08Upcoming dividend of NT$0.92 per shareEligible shareholders must have bought the stock before 15 June 2021. Payment date: 14 July 2021. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (2.1%).
Reported Earnings • May 08First quarter 2021 earnings released: EPS NT$0.67 (vs NT$0.36 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.72b (up 26% from 1Q 2020). Net income: NT$237.3m (up 86% from 1Q 2020). Profit margin: 8.7% (up from 5.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.
분석 기사 • Apr 19Chang Wah Technology (GTSM:6548) Has A Pretty Healthy Balance SheetWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
분석 기사 • Apr 01Chang Wah Technology's (GTSM:6548) Solid Profits Have Weak FundamentalsChang Wah Technology Co., Ltd. ( GTSM:6548 ) just reported some strong earnings, and the market rewarded them with a...
공시 • Mar 19Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 07, 2021Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 07, 2021.
분석 기사 • Mar 19Should We Be Excited About The Trends Of Returns At Chang Wah Technology (GTSM:6548)?If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd...
Reported Earnings • Mar 18Full year 2020 earnings released: EPS NT$2.19 (vs NT$1.72 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$9.68b (up 3.8% from FY 2019). Net income: NT$773.8m (up 27% from FY 2019). Profit margin: 8.0% (up from 6.5% in FY 2019). The increase in margin was 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 19% per year, which means it is well ahead of earnings.
분석 기사 • Mar 03What Is Chang Wah Technology Co., Ltd.'s (GTSM:6548) Share Price Doing?While Chang Wah Technology Co., Ltd. ( GTSM:6548 ) might not be the most widely known stock at the moment, it saw a...
Is New 90 Day High Low • Feb 18New 90-day high: NT$68.70The company is up 44% from its price of NT$47.55 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.
분석 기사 • Feb 16Shareholders of Chang Wah Technology (GTSM:6548) Must Be Delighted With Their 835% Total ReturnBuying shares in the best businesses can build meaningful wealth for you and your family. And we've seen some truly...
분석 기사 • Jan 28Are Robust Financials Driving The Recent Rally In Chang Wah Technology Co., Ltd.'s (GTSM:6548) Stock?Most readers would already be aware that Chang Wah Technology's (GTSM:6548) stock increased significantly by 38% over...
Is New 90 Day High Low • Jan 25New 90-day high: NT$66.00The company is up 37% from its price of NT$48.15 on 28 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 43% over the same period.
분석 기사 • Jan 13Is Chang Wah Technology Co., Ltd. (GTSM:6548) A Smart Choice For Dividend Investors?Dividend paying stocks like Chang Wah Technology Co., Ltd. ( GTSM:6548 ) tend to be popular with investors, and for...
Is New 90 Day High Low • Jan 07New 90-day high: NT$64.00The company is up 61% from its price of NT$39.70 on 08 October 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 23% over the same period.
분석 기사 • Dec 29Does Chang Wah Technology (GTSM:6548) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
분석 기사 • Dec 12Chang Wah Technology Co., Ltd. (GTSM:6548) Will Pay A NT$0.40 Dividend In Three DaysRegular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Chang Wah...
Upcoming Dividend • Dec 10Upcoming Dividend of NT$0.40 Per ShareWill be paid on the 13th of January to those who are registered shareholders by the 17th of December. The trailing yield of 3.0% is below the top quartile of Taiwanese dividend payers (5.1%), but it is higher than industry peers (2.0%).
분석 기사 • Dec 09Returns On Capital At Chang Wah Technology (GTSM:6548) Paint An Interesting PictureTo find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...
Valuation Update With 7 Day Price Move • Dec 01Market bids up stock over the past weekAfter last week's 24% share price gain to NT$59.50, the stock is trading at a trailing P/E ratio of 27.7x, up from the previous P/E ratio of 22.3x. This compares to an average P/E of 24x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 62%.
Is New 90 Day High Low • Nov 27New 90-day high: NT$49.25The company is up 28% from its price of NT$38.50 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 15% over the same period.
분석 기사 • Nov 17Is Now An Opportune Moment To Examine Chang Wah Technology Co., Ltd. (GTSM:6548)?While Chang Wah Technology Co., Ltd. (GTSM:6548) might not be the most widely known stock at the moment, it saw a...
Reported Earnings • Nov 10Third quarter 2020 earnings released: EPS NT$0.78The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$2.40b (down 2.8% from 3Q 2019). Net income: NT$275.8m (up 50% from 3Q 2019). Profit margin: 12% (up from 7.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year.
Valuation Update With 7 Day Price Move • Oct 26Market bids up stock over the past weekAfter last week's 18% share price gain to NT$48.20, the stock is trading at a trailing P/E ratio of 25.5x, up from the previous P/E ratio of 21.7x. This compares to an average P/E of 23x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 35%.
Is New 90 Day High Low • Oct 15New 90-day high: NT$42.60The company is up 40% from its price of NT$30.40 on 17 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 21% over the same period.
