Buy Or Sell Opportunity • Jul 31
Now 31% overvalued Over the last 90 days, the stock has fallen 41% to ₩8,430. The fair value is estimated to be ₩6,455, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. New Risk • Jun 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩151.6b (US$98.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.9% operating cash flow to total debt). Minor Risk Market cap is less than US$100m (₩151.6b market cap, or US$98.2m). Aankondiging • Mar 12
Telechips Inc., Annual General Meeting, Mar 31, 2026 Telechips Inc., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 27, geumto-ro 80beon-gil, sujeong-gu, gyeonggi-do, seongnam South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩60.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 17 April 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of South Korean dividend payers (3.6%). In line with average of industry peers (0.4%). New Risk • Nov 26
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Declared Dividend • Nov 08
Dividend of ₩60.00 announced Dividend of ₩60.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 17th April 2026 Dividend yield will be 0.5%, which is lower than the industry average of 1.0%. Aankondiging • Nov 07
Telechips Inc. announces Annual dividend, payable on April 17, 2026 Telechips Inc. announced Annual dividend of KRW 60.0000 per share payable on April 17, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Outside Director Byongdeok Choi was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buy Or Sell Opportunity • Jun 13
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to ₩13,730. The fair value is estimated to be ₩17,944, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to ₩14,200. The fair value is estimated to be ₩17,799, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Mar 13
Telechips Inc., Annual General Meeting, Mar 31, 2025 Telechips Inc., Annual General Meeting, Mar 31, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 27, geumto-ro 80beon-gil, sujeong-gu, gyeonggi-do, seongnam South Korea Aankondiging • Mar 06
Telechips Unveils Automotive Ai Accelerator 'A2x' Featuring 200Tops Npu for Powerful Ai Processing Performance, Ready for Global Market Launch Telechips has unveiled its game-changing automotive AI accelerator, A2X (TCA2000/TCA1000), setting a new benchmark for the future of mobility (SDV). With its cutting-edge technology, A2X is ready to accelerate the adoption of AI-driven automotive systems, streamlining development processes and reducing costs for manufacturers. The A2X is a highly integrated solution, combining sensor interfaces, data preprocessing, and AI acceleration into a single chipset. It delivers peak AI processing power while simplifying development timelines and lowering system costs. Notably, it is equipped with the largest-ever NPU (Neural Processing Unit) in a domestic automotive AI accelerator, ensuring exceptional AI controller performance and maximizing system efficiency. Traditional autonomous driving and ADAS (Advanced Driver-Assistance Systems) rely on a single SoC (System-on-Chip) to handle all processes, from sensor data input to image pre-processing, AI computation, vehicle prediction, and control. This approach often leads to inefficiencies in data flow, increased computational load, and over-dependence on high-performance SoCs, resulting in higher power consumption, escalating costs, and increased system complexity, ultimately burdening automotive manufacturers with lengthy development timelines. The A2X overcomes these challenges with its 200/100TOPS NPU and 100K/50K DMIPS CPU, providing unmatched AI computation performance. It features key preprocessing blocks like De-warp, Multi-scaler, and Point Cloud Accelerator, reducing the load on the main SoC and enabling real-time AI processing at peak efficiency. The A2X also offers seamless integration with ADAS and IVI processors, boosting system scalability and reinforcing the competitive edge of SDVs. It will soon support on-device AI features, including LLM/sLLM. Aankondiging • Feb 17
Telechips Launches Korea's First High-Performance Mobility Network Processor 'AXON ' Telechips has introduced AXON (TCN100x), a high-performance network processor designed for mobility applications. AXON is a network System on Chip (SoC) that supports the highest safety level ASIL-D in ISO26262, ensuring top-tier safety and performance. It aids global automakers and top-tier companies in transitioning to next-generation E/E architectures and realizing Software Defined Vehicles (SDVs). This solution supports high-performance processing, expanded network bandwidth, and ultra-low latency with real-time security features. It integrates multi-channel Time-Sensitive Networking (TSN) Ethernet, CAN, and LIN-dedicated hardware network switches, ensuring robust network performance. The product applies the latest high-performance Cortex-A65AE multicore and multi-domain MCU cores from UK-based ARM, enabling stable in-vehicle network management and ultra-low latency data processing. It supports Over-the-Air (OTA) updates, diagnostics, network management, and application integration, offering an architecture optimized for SDV environments. Compared to competitors, AXON provides 2x higher application processing performance, 1.5x more Ethernet channels, and over 2.5x increased bandwidth. This breakthrough overcomes the limitations of traditional domain architectures and accelerates the transition to zonal architectures. Additionally, it features an Intrusion Detection System (IDS) with a dedicated Deep Packet Inspection (DPI) engine and integrates MACsec and IPsec security protocols, strengthening cybersecurity measures. Notably, AXON adopts an SoC architecture that minimizes the need for external integrated circuits (ICs), reducing system costs and development time. By leveraging this product, manufacturers can achieve more efficient network designs and optimized system BOM (Bill of Materials) configurations, maximizing cost savings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 17 April 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (0.8%). New Risk • Dec 08
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. 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 • Nov 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩10,730, the stock trades at a trailing P/E ratio of 7.8x. Average forward P/E is 12x in the Semiconductor industry in South Korea. Total loss to shareholders of 32% over the past three years. Aankondiging • Sep 17
DivX, LLC Files Breach of Contract Suit Against Telechips DivX, LLC has filed a breach of contract suit against Telechips Inc. DivX has been licensing technology to Telechips since 2016. DivX alleges that a recent, independent audit uncovered numerous breaches of the parties’ agreements. For these breaches, DivX is seeking substantial damages and indemnities in the nine-figure range. Major Estimate Revision • Aug 15
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩197.0m to ₩191.1m. Now expected to report a loss of ₩1,055 per share instead of ₩1,117 per share profit previously forecast. Semiconductor industry in South Korea expected to see average net income growth of 74% next year. Consensus price target down from ₩30,500 to ₩25,500. Share price rose 7.5% to ₩15,000 over the past week. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₩13,200, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Semiconductor industry in South Korea. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩13,845 per share. Price Target Changed • May 11
Price target decreased by 12% to ₩20,500 Down from ₩23,167, the current price target is an average from 3 analysts. New target price is 14% below last closing price of ₩23,900. Stock is up 42% over the past year. The company is forecast to post earnings per share of ₩1,117 for next year compared to ₩4,375 last year. Reported Earnings • Mar 26
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ₩4,375 (up from ₩3,480 in FY 2022). Revenue: ₩191.1b (up 27% from FY 2022). Net income: ₩62.6b (up 37% from FY 2022). Profit margin: 33% (up from 31% in FY 2022). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 64%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Semiconductor industry in South Korea. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩30,250, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩15,370 per share. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩35,150, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 176% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩14,825 per share. Upcoming Dividend • Dec 20
Upcoming dividend of ₩130 per share at 0.4% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 12 April 2024. Payout ratio is a comfortable 6.6% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (1.0%). New Risk • Nov 26
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 15% Last year net profit margin: 36% 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: Major Risks Earnings are forecast to decline by an average of 10% per year for the foreseeable future. High level of non-cash earnings (40% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Profit margins are more than 30% lower than last year (15% net profit margin). Shareholders have been diluted in the past year (9.4% increase in shares outstanding). Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩26,350, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 18x in the Semiconductor industry in South Korea. Total returns to shareholders of 102% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩14,291 per share. Major Estimate Revision • Nov 11
Consensus EPS estimates increase by 43% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ₩193.3m to ₩200.8m. EPS estimate increased from ₩1,812 to ₩2,599 per share. Net income forecast to shrink 51% next year vs 18% growth forecast for Semiconductor industry in South Korea . Consensus price target up from ₩25,000 to ₩28,000. Share price rose 6.1% to ₩23,600 over the past week. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩26,100, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Semiconductor industry in South Korea. Total returns to shareholders of 172% over the past three years. Aankondiging • Sep 06
Telechips Announces New Silicon Line-Up for Future Mobility at IAA Mobility 2023 Telechips announced that it is gearing up to make its debut at IAA Mobility 2023, the annual global mobility show set to take place in Germany. Telechips' future mobility solutions extend beyond in-vehicle infotainment (IVI). Having previously focused on infotainment application processors (AP), Telechips is now diversifying into areas such as ADAS chips infused with artificial intelligence (AI) technology, autonomous driving, and networking. Expanding its product portfolio to encompass not only SoCs but also MCUs in the body and chassis domains. At this IAA Mobility 2023, Telechips is set to unveil its next-generation application processor for infotainment cockpits Dolphin 5, along with N-Dolphin, an ADAS Vision processor equipped with neural processing units (NPUs) for prioritizing safety in driving environments. Especially, as the first product in a new silicon line-up, the N-Dolphin is slated to be ready for mass production in Third Quarter 2023. Telechips-designed products are manufactured at Samsung Electronics' foundry. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 42% 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 Risks Earnings are forecast to decline by an average of 42% per year for the foreseeable future. High level of non-cash earnings (69% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Shareholders have been diluted in the past year (9.3% increase in shares outstanding). Aankondiging • Aug 19
Telechips Inc. (KOSDAQ:A054450) announces an Equity Buyback for KRW 4,000 million worth of its shares. Telechips Inc. (KOSDAQ:A054450) announces a share repurchase program. Under the program, the company will repurchase up to KRW 4,000 million worth of its common stock, pursuant to a contract with SAMSUNG SECURITIES CO., LTD. The purpose of the program is Stock price stabilization and shareholder value enhancement. The program will end on February 18, 2024. As of August 17, 2023, the company had 191,962 shares in treasury within the scope available for dividend and 975 shares in treasury through other repurchase. New Risk • Aug 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 35% per year for the foreseeable future. High level of non-cash earnings (89% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩22,850, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 172% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩21,700, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 12x in the Semiconductor industry in South Korea. Total returns to shareholders of 185% over the past three years. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩18,090, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 10x in the Semiconductor industry in South Korea. Total returns to shareholders of 134% over the past three years. Reported Earnings • Mar 26
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₩3,480 (up from ₩559 in FY 2021). Revenue: ₩150.4b (up 10% from FY 2021). Net income: ₩45.9b (up ₩38.9b from FY 2021). Profit margin: 31% (up from 5.2% in FY 2021). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Semiconductor industry in South Korea. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩14,620, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Semiconductor industry in South Korea. Total returns to shareholders of 33% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩120 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 17 April 2023. Payout ratio is a comfortable 2.8% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (1.8%). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Byongdeok Choi was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩13,200, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Semiconductor industry in South Korea. Total returns to shareholders of 5.1% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 16% share price gain to ₩19,200, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 11x in the Semiconductor industry in South Korea. Total returns to shareholders of 62% over the past three years. Major Estimate Revision • May 14
Consensus EPS estimates increase by 22% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ₩154.5m to ₩166.9m. EPS estimate increased from ₩1,017 to ₩1,243 per share. Net income forecast to grow 139% next year vs 31% growth forecast for Semiconductor industry in South Korea. Consensus price target of ₩23,000 unchanged from last update. Share price rose 4.7% to ₩17,750 over the past week. Price Target Changed • Apr 27
Price target increased to ₩23,000 Up from ₩21,000, the current price target is provided by 1 analyst. New target price is 28% above last closing price of ₩18,000. Stock is up 7.8% over the past year. The company is forecast to post earnings per share of ₩1,017 for next year compared to ₩559 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Outside Director Seokcheol Kee was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 20
Full year 2020 earnings released: ₩749 loss per share (vs ₩663 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ₩100.7b (down 24% from FY 2019). Net loss: ₩9.41b (down 213% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 17
New 90-day high: ₩21,300 The company is up 64% from its price of ₩13,000 on 19 November 2020. The South Korean market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 33% over the same period. Aankondiging • Jan 15
Telechips Inc. announced that it has received KRW 20 billion in funding from KB Securities Co., Ltd., Samsung Securities Co., Ltd. On January 14, 2021, Telechips Inc. (KOSDAQ:A054450) closed the transaction. Aankondiging • Jan 13
Telechips Inc. announced that it expects to receive KRW 20 billion in funding from KB Securities Co., Ltd., Samsung Securities Co., Ltd. Telechips Inc. (KOSDAQ:A054450) announced a private placement of round 1 bearer-type interest-bearing private convertible bonds for the gross proceeds of KRW 20,000,000,000 on January 12, 2021. The transaction will include participation from new investors KB Securities Co., Ltd. and Samsung Securities Co., Ltd. (KOSE:A016360) for KRW 10,000,000,000 each. The bonds carry a coupon rate of 0% and interest rate to maturity of 0%. The maturity date of bonds is January 14, 2026. The bonds are 100% convertible into 1,159,554 shares of the company representing stake of 8.45% at a conversion price of KRW 17,248 per share. The conversion period will start from January 14, 2022 and end on December 14, 2025. The payment and subscription date is January 14, 2021. The bonds carry a hold period of one year from the date of issue. Is New 90 Day High Low • Jan 11
New 90-day high: ₩17,750 The company is up 7.0% from its price of ₩16,550 on 13 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 43% over the same period. Is New 90 Day High Low • Sep 25
New 90-day high: ₩11,300 The company is up 44% from its price of ₩7,830 on 26 June 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩8,886 per share.