Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$0.20 loss per share (vs NT$0.73 profit in 2Q 2024) Second quarter 2025 results: NT$0.20 loss per share (down from NT$0.73 profit in 2Q 2024). Revenue: NT$173.1m (up 62% from 2Q 2024). Net loss: NT$6.03m (down 128% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Jun 12
Upcoming dividend of NT$2.80 per share Eligible shareholders must have bought the stock before 17 June 2025. Payment date: 02 July 2025. Payout ratio is on the higher end at 88%, and the cash payout ratio is above 100%. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.3%). Declared Dividend • May 29
Dividend increased to NT$2.80 Dividend of NT$2.80 is 40% higher than last year. Ex-date: 17th June 2025 Payment date: 2nd July 2025 Dividend yield will be 4.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but not covered by cash flows (104% cash payout ratio). The dividend has increased by an average of 13% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$1.07 (vs NT$1.11 in 1Q 2024) First quarter 2025 results: EPS: NT$1.07 (down from NT$1.11 in 1Q 2024). Revenue: NT$151.9m (up 48% from 1Q 2024). Net income: NT$32.2m (down 3.8% from 1Q 2024). Profit margin: 21% (down from 33% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% 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. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$61.20, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total loss to shareholders of 12% over the past three years. New Risk • Mar 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% 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 (99% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (NT$2.21b market cap, or US$66.6m). Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$3.23 (vs NT$2.12 in FY 2023) Full year 2024 results: EPS: NT$3.23 (up from NT$2.12 in FY 2023). Revenue: NT$465.9m (up 10% from FY 2023). Net income: NT$96.9m (up 53% from FY 2023). Profit margin: 21% (up from 15% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Aankondiging • Mar 13
Sentelic Corporation, Annual General Meeting, May 26, 2025 Sentelic Corporation, Annual General Meeting, May 26, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$81.00, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 13% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.42 (vs NT$0.64 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.42 (down from NT$0.64 in 3Q 2023). Revenue: NT$126.4m (up 8.8% from 3Q 2023). Net income: NT$12.5m (down 34% from 3Q 2023). Profit margin: 9.9% (down from 16% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$88.60, the stock trades at a trailing P/E ratio of 32.4x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 71% over the past three years. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.73 (vs NT$1.17 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.73 (down from NT$1.17 in 2Q 2023). Revenue: NT$106.9m (down 6.2% from 2Q 2023). Net income: NT$21.8m (down 38% from 2Q 2023). Profit margin: 20% (down from 31% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. 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 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$73.10, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 23% over the past three years. Buy Or Sell Opportunity • Jul 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.2% to NT$103. The fair value is estimated to be NT$132, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Earnings per share has declined by 14%. Upcoming Dividend • Jun 10
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 17 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (2.2%). Buy Or Sell Opportunity • May 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to NT$102. The fair value is estimated to be NT$130, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Earnings per share has declined by 14%. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$109, the stock trades at a trailing P/E ratio of 34.3x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 146% over the past three years. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.11 (vs NT$0.055 in 1Q 2023) First quarter 2024 results: EPS: NT$1.11 (up from NT$0.055 in 1Q 2023). Revenue: NT$102.9m (up 44% from 1Q 2023). Net income: NT$33.4m (up NT$31.8m from 1Q 2023). Profit margin: 33% (up from 2.3% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$104, the stock trades at a trailing P/E ratio of 48.9x. Average trailing P/E is 31x in the Semiconductor industry in Taiwan. Total returns to shareholders of 80% over the past three years. Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: NT$2.12 (vs NT$3.00 in FY 2022) Full year 2023 results: EPS: NT$2.12 (down from NT$3.00 in FY 2022). Revenue: NT$422.1m (down 18% from FY 2022). Net income: NT$63.5m (down 29% from FY 2022). Profit margin: 15% (down from 17% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Aankondiging • Mar 06
Sentelic Corporation, Annual General Meeting, May 28, 2024 Sentelic Corporation, Annual General Meeting, May 28, 2024. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$77.50, the stock trades at a trailing P/E ratio of 78.1x. Average trailing P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$80.40, the stock trades at a trailing P/E ratio of 69.6x. Average trailing P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 19% over the past three years. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$1.17 (vs NT$1.48 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.17 (down from NT$1.48 in 2Q 2022). Revenue: NT$113.9m (down 36% from 2Q 2022). Net income: NT$34.9m (down 20% from 2Q 2022). Profit margin: 31% (up from 25% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. New Risk • Jul 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 184% Cash payout ratio: 348% Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (NT$1.87b market cap, or US$60.2m). Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$63.00, the stock trades at a trailing P/E ratio of 43.4x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 49% over the past three years. Upcoming Dividend • Jun 05
Upcoming dividend of NT$2.70 per share at 4.7% yield Eligible shareholders must have bought the stock before 12 June 2023. Payment date: 27 June 2023. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.3%). Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: NT$3.00 (vs NT$3.51 in FY 2021) Full year 2022 results: EPS: NT$3.00 (down from NT$3.51 in FY 2021). Revenue: NT$515.6m (down 7.5% from FY 2021). Net income: NT$89.1m (down 14% from FY 2021). Profit margin: 17% (down from 19% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: NT$0.81 (vs NT$0.91 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.81 (down from NT$0.91 in 3Q 2021). Revenue: NT$105.2m (down 22% from 3Q 2021). Net income: NT$24.0m (down 11% from 3Q 2021). Profit margin: 23% (up from 20% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 19% share price gain to NT$51.20, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 11x in the Semiconductor industry in Taiwan. Total returns to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$41.50, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 16% over the past three years. Aankondiging • Aug 18
Weltrend Semiconductor, Inc. (TWSE:2436) completed the acquisition of a 51% stake in Sentelic Corporation (TPEX:4945). Weltrend Semiconductor, Inc. (TWSE:2436) made an offer to acquire 51% of stake in Sentelic Corporation (TPEX:4945) for TWD 1.1 billion on July 27, 2022. Weltrend Semiconductor is paying TWD 72.9 per share. Under the tender offer, Weltrend plans to acquire a minimum of 13,522,000 shares (approximately 45% of Sentelic’s outstanding shares) to a maximum of 15,324,000 shares (approximately 51% of Sentelic’s outstanding shares).Board of Directors of Weltrend Semiconductor approved the deal. The tender offer is open for 20 days from July 29, 2022 to August 17, 2022. As of August 10, all conditions were met.
Weltrend Semiconductor, Inc. (TWSE:2436) completed the acquisition of a 51% stake in Sentelic Corporation (TPEX:4945) on August 17, 2022. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$1.48 (vs NT$0.66 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.48 (up from NT$0.66 in 2Q 2021). Revenue: NT$177.1m (up 37% from 2Q 2021). Net income: NT$43.8m (up 128% from 2Q 2021). Profit margin: 25% (up from 15% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improved over the past week After last week's 16% share price gain to NT$71.70, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 88% over the past three years. Upcoming Dividend • Jun 07
Upcoming dividend of NT$3.20 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 30 June 2022. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (6.0%). Higher than average of industry peers (3.0%). Upcoming Dividend • Jun 07
Upcoming dividend of NT$3.20 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 30 June 2022. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (6.0%). Higher than average of industry peers (3.0%). Reported Earnings • May 10
First quarter 2022 earnings released: EPS: NT$1.60 (vs NT$0.95 in 1Q 2021) First quarter 2022 results: EPS: NT$1.60 (up from NT$0.95 in 1Q 2021). Revenue: NT$179.0m (up 34% from 1Q 2021). Net income: NT$47.2m (up 69% from 1Q 2021). Profit margin: 26% (up from 21% in 1Q 2021). The increase in margin was driven by higher revenue. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . 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 • Mar 28
Full year 2021 earnings released: EPS: NT$3.51 (vs NT$2.02 in FY 2020) Full year 2021 results: EPS: NT$3.51 (up from NT$2.02 in FY 2020). Revenue: NT$557.6m (up 38% from FY 2020). Net income: NT$103.1m (up 94% from FY 2020). Profit margin: 19% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 16% share price gain to NT$95.00, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 98% over the past year. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improved over the past week After last week's 15% share price gain to NT$79.90, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 68% over the past year. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 16% share price gain to NT$79.30, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 67% over the past year. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$0.91 (vs NT$0.24 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$134.7m (up 35% from 3Q 2020). Net income: NT$26.9m (up 336% from 3Q 2020). Profit margin: 20% (up from 6.2% in 3Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$50.50, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total loss to shareholders of 21% over the past year. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$0.66 (vs NT$0.62 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$129.4m (up 34% from 2Q 2020). Net income: NT$19.2m (up 19% from 2Q 2020). Profit margin: 15% (down from 17% in 2Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorated over the past week After last week's 21% share price decline to NT$66.10, the stock trades at a trailing P/E ratio of 28.5x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 13% over the past year. Upcoming Dividend • Aug 03
Upcoming dividend of NT$1.60 per share Eligible shareholders must have bought the stock before 10 August 2021. Payment date: 31 August 2021. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 24% share price gain to NT$72.30, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 18% over the past year. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$45.20, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 17% over the past year. Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$0.95 (vs NT$0.69 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$134.0m (up 42% from 1Q 2020). Net income: NT$27.9m (up 55% from 1Q 2020). Profit margin: 21% (up from 19% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$2.02 (vs NT$1.70 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$404.7m (up 13% from FY 2019). Net income: NT$53.3m (up 21% from FY 2019). Profit margin: 13% (in line with FY 2019). Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improved over the past week After last week's 16% share price gain to NT$58.80, the stock trades at a trailing P/E ratio of 28.3x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 136% over the past year. Aankondiging • Mar 11
Sentelic Corporation, Annual General Meeting, May 25, 2021 Sentelic Corporation, Annual General Meeting, May 25, 2021. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 20% share price gain to NT$58.80, the stock is trading at a trailing P/E ratio of 28.3x, up from the previous P/E ratio of 23.5x. This compares to an average P/E of 26x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past year are 62%. Is New 90 Day High Low • Dec 14
New 90-day low: NT$48.40 The company is down 28% from its price of NT$67.00 on 16 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 20% over the same period. Valuation Update With 7 Day Price Move • Nov 24
Market pulls back on stock over the past week After last week's 15% share price decline to NT$50.20, the stock is trading at a trailing P/E ratio of 24.1x, down from the previous P/E ratio of 28.5x. This compares to an average P/E of 23x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past year are 33%. Is New 90 Day High Low • Nov 20
New 90-day low: NT$51.30 The company is down 12% from its price of NT$58.10 on 21 August 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 16% over the same period. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of NT$54.1m, down 6.9% from the prior year. Total revenue was NT$398.1m over the last 12 months, up 7.1% from the prior year.