Valuation Update With 7 Day Price Move • 13h
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to NT$290, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 28x in the Semiconductor industry in Taiwan. Total returns to shareholders of 254% over the past three years. Upcoming Dividend • Jul 17
Upcoming dividend of NT$7.50 per share Eligible shareholders must have bought the stock before 24 July 2026. Payment date: 21 August 2026. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (1.0%). New Risk • Jul 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 12% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). 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 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$382, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 35x in the Semiconductor industry in Taiwan. Total returns to shareholders of 359% over the past three years. Board Change • Jul 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. 3 experienced directors. 4 highly experienced directors. Independent Director Cliff Wong was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$318, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 280% over the past three years. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to NT$279, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 230% over the past three years. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$232, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 182% over the past three years. Reported Earnings • Apr 29
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: NT$3.00 (up from NT$2.37 in 1Q 2025). Revenue: NT$947.5m (up 4.0% from 1Q 2025). Net income: NT$137.4m (up 56% from 1Q 2025). Profit margin: 14% (up from 9.7% in 1Q 2025). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 26% per year. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$189, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 123% over the past three years. Buy Or Sell Opportunity • Mar 30
Now 21% undervalued Over the last 90 days, the stock has risen 39% to NT$151. The fair value is estimated to be NT$192, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$169, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 100% over the past three years. Buy Or Sell Opportunity • Mar 09
Now 25% undervalued Over the last 90 days, the stock has risen 19% to NT$143. The fair value is estimated to be NT$192, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Reported Earnings • Feb 27
Full year 2025 earnings released: EPS: NT$9.52 (vs NT$6.09 in FY 2024) Full year 2025 results: EPS: NT$9.52 (up from NT$6.09 in FY 2024). Revenue: NT$3.40b (up 25% from FY 2024). Net income: NT$354.4m (up 57% from FY 2024). Profit margin: 10% (up from 8.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Feb 12
Sinopower Semiconductor, Inc., Annual General Meeting, Jun 26, 2026 Sinopower Semiconductor, Inc., Annual General Meeting, Jun 26, 2026. Location: no,6, tu hsing 1st rd., hsinchu science park, hsinchu city Taiwan New Risk • Jan 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 10% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$139, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 33x in the Semiconductor industry in Taiwan. Total returns to shareholders of 70% over the past three years. New Risk • Dec 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 10% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.4% average weekly change). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$2.63 (vs NT$1.52 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.63 (up from NT$1.52 in 3Q 2024). Revenue: NT$821.0m (up 15% from 3Q 2024). Net income: NT$98.1m (up 74% from 3Q 2024). Profit margin: 12% (up from 7.9% in 3Q 2024). The increase in margin was driven by higher revenue. 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 6% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: NT$1.13 (vs NT$1.46 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.13 (down from NT$1.46 in 2Q 2024). Revenue: NT$799.1m (up 28% from 2Q 2024). Net income: NT$42.0m (down 22% from 2Q 2024). Profit margin: 5.3% (down from 8.7% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 39% 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. Declared Dividend • Jul 24
Dividend increased to NT$4.30 Dividend of NT$4.30 is 54% higher than last year. Ex-date: 7th August 2025 Payment date: 28th August 2025 Dividend yield will be 4.5%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 4.7% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.8% 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$2.37 (vs NT$1.56 in 1Q 2024) First quarter 2025 results: EPS: NT$2.37 (up from NT$1.56 in 1Q 2024). Revenue: NT$911.5m (up 31% from 1Q 2024). Net income: NT$88.1m (up 52% from 1Q 2024). Profit margin: 9.7% (up from 8.3% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. New Risk • Apr 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 8.0% 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 Earnings have declined by 2.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (NT$3.25b market cap, or US$98.9m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$87.50, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total loss to shareholders of 24% over the past three years. New Risk • Mar 02
New major risk - Revenue and earnings growth Earnings have declined by 2.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.0% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Aankondiging • Feb 25
Sinopower Semiconductor, Inc., Annual General Meeting, May 29, 2025 Sinopower Semiconductor, Inc., Annual General Meeting, May 29, 2025, at 09:00 Taipei Standard Time. Location: no,6, tu hsing 1st rd., hsinchu science park, hsinchu city Taiwan Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$112, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total loss to shareholders of 7.5% over the past three years. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: NT$1.52 (vs NT$1.62 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.52 (down from NT$1.62 in 3Q 2023). Revenue: NT$711.6m (up 2.1% from 3Q 2023). Net income: NT$56.5m (down 6.0% from 3Q 2023). Profit margin: 7.9% (down from 8.6% 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 42% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$1.46 (vs NT$0.96 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.46 (up from NT$0.96 in 2Q 2023). Revenue: NT$623.7m (down 5.3% from 2Q 2023). Net income: NT$54.2m (up 51% from 2Q 2023). Profit margin: 8.7% (up from 5.4% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$85.50, the stock trades at a trailing P/E ratio of 17.4x. Average forward P/E is 19x in the Semiconductor industry in Taiwan. Total loss to shareholders of 19% over the past three years. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.23b (US$98.9m) 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: 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 (6.7% net profit margin). Market cap is less than US$100m (NT$3.23b market cap, or US$98.9m). Upcoming Dividend • Jul 25
Upcoming dividend of NT$2.80 per share Eligible shareholders must have bought the stock before 01 August 2024. Payment date: 23 August 2024. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.0%). Buy Or Sell Opportunity • Jul 22
Now 20% undervalued Over the last 90 days, the stock has risen 9.6% to NT$103. The fair value is estimated to be NT$129, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.1% over the last 3 years. Earnings per share has declined by 24%. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$117, the stock trades at a trailing P/E ratio of 23.8x. Average forward P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 28% over the past three years. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.56 (vs NT$0.64 in 1Q 2023) First quarter 2024 results: EPS: NT$1.56 (up from NT$0.64 in 1Q 2023). Revenue: NT$694.7m (up 13% from 1Q 2023). Net income: NT$57.8m (up 147% from 1Q 2023). Profit margin: 8.3% (up from 3.8% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: NT$4.03 (vs NT$12.40 in FY 2022) Full year 2023 results: EPS: NT$4.03 (down from NT$12.40 in FY 2022). Revenue: NT$2.66b (down 12% from FY 2022). Net income: NT$149.3m (down 67% from FY 2022). Profit margin: 5.6% (down from 15% 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 3% per year, which means it is well ahead of earnings. Aankondiging • Mar 01
Sinopower Semiconductor, Inc., Annual General Meeting, May 30, 2024 Sinopower Semiconductor, Inc., Annual General Meeting, May 30, 2024. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$119, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 23% over the past three years. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$1.62 (vs NT$2.04 in 3Q 2022) Third quarter 2023 results: EPS: NT$1.62 (down from NT$2.04 in 3Q 2022). Revenue: NT$696.8m (up 18% from 3Q 2022). Net income: NT$60.0m (down 20% from 3Q 2022). Profit margin: 8.6% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 3% per year. Upcoming Dividend • Aug 21
Upcoming dividend of NT$3.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 28 August 2023. Payment date: 21 September 2023. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.6%). Lower than average of industry peers (3.4%). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$1.06 (vs NT$5.51 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.06 (down from NT$5.51 in 2Q 2022). Revenue: NT$658.4m (down 32% from 2Q 2022). Net income: NT$35.8m (down 81% from 2Q 2022). Profit margin: 5.4% (down from 19% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 25
Full year 2022 earnings released: EPS: NT$13.64 (vs NT$13.09 in FY 2021) Full year 2022 results: EPS: NT$13.64 (up from NT$13.09 in FY 2021). Revenue: NT$3.00b (down 3.6% from FY 2021). Net income: NT$456.1m (up 4.3% from FY 2021). Profit margin: 15% (up from 14% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There 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. 1 experienced director. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Kai-Charn Yang was the last independent director to join the board, commencing their role in 2020. 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 13
Third quarter 2022 earnings released: EPS: NT$2.24 (vs NT$4.25 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.24 (down from NT$4.25 in 3Q 2021). Revenue: NT$589.8m (down 29% from 3Q 2021). Net income: NT$74.8m (down 47% from 3Q 2021). Profit margin: 13% (down from 17% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$5.51 (vs NT$2.91 in 2Q 2021) Second quarter 2022 results: EPS: NT$5.51 (up from NT$2.91 in 2Q 2021). Revenue: NT$970.8m (up 32% from 2Q 2021). Net income: NT$184.1m (up 89% from 2Q 2021). Profit margin: 19% (up from 13% 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 36% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 18
Upcoming dividend of NT$7.20 per share Eligible shareholders must have bought the stock before 25 July 2022. Payment date: 12 August 2022. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 6.3%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$118, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 12% over the past three years. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$5.26 (vs NT$2.10 in 1Q 2021) First quarter 2022 results: EPS: NT$5.26 (up from NT$2.10 in 1Q 2021). Revenue: NT$969.3m (up 33% from 1Q 2021). Net income: NT$175.9m (up 152% from 1Q 2021). Profit margin: 18% (up from 9.6% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. 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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 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. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 17% share price gain to NT$154, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 16% share price gain to NT$160, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 91% over the past three years. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS NT$4.25 (vs NT$2.34 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$827.5m (up 11% from 3Q 2020). Net income: NT$142.2m (up 83% from 3Q 2020). Profit margin: 17% (up from 11% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$2.91 (vs NT$1.45 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$733.9m (up 23% from 2Q 2020). Net income: NT$97.4m (up 102% from 2Q 2020). Profit margin: 13% (up from 8.1% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 15
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 22 July 2021. Payment date: 13 August 2021. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.1%). Reported Earnings • May 13
First quarter 2021 earnings released: EPS NT$2.10 (vs NT$1.26 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$726.9m (up 32% from 1Q 2020). Net income: NT$69.9m (up 68% from 1Q 2020). Profit margin: 9.6% (up from 7.5% 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 8% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$7.02 (vs NT$6.16 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: NT$2.60b (up 21% from FY 2019). Net income: NT$233.5m (up 15% from FY 2019). Profit margin: 9.0% (down from 9.4% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 16% share price gain to NT$138, the stock is trading at a trailing P/E ratio of 22.7x, up from the previous P/E ratio of 19.6x. This compares to an average P/E of 26x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 39%. Is New 90 Day High Low • Dec 30
New 90-day high: NT$138 The company is up 51% from its price of NT$90.80 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 14
New 90-day high: NT$128 The company is up 38% from its price of NT$92.50 on 16 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 20% over the same period. Is New 90 Day High Low • Nov 13
New 90-day high: NT$116 The company is up 27% from its price of NT$90.60 on 14 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 6.0% over the same period. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS NT$2.34 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$744.2m (up 48% from 3Q 2019). Net income: NT$77.9m (up 106% from 3Q 2019). Profit margin: 11% (up from 7.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 4% per year. Is New 90 Day High Low • Oct 07
New 90-day high: NT$103 The company is up 8.0% from its price of NT$95.20 on 09 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 18% over the same period.