Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 42% After last week's 42% share price gain to NT$255, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 39x in the Semiconductor industry in Taiwan. Total returns to shareholders of 258% over the past three years. Reported Earnings • Aug 03
Second quarter 2026 earnings released: EPS: NT$20.21 (vs NT$2.59 loss in 2Q 2025) Second quarter 2026 results: EPS: NT$20.21 (up from NT$2.59 loss in 2Q 2025). Revenue: NT$13.9b (up 324% from 2Q 2025). Net income: NT$5.91b (up NT$6.63b from 2Q 2025). Profit margin: 42% (up from net loss in 2Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 130% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$198, the stock trades at a trailing P/E ratio of 23.6x. Average trailing P/E is 47x in the Semiconductor industry in Taiwan. Total returns to shareholders of 163% over the past three years. Upcoming Dividend • Jun 25
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 02 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$268, the stock trades at a trailing P/E ratio of 31.8x. Average trailing P/E is 46x in the Semiconductor industry in Taiwan. Total returns to shareholders of 221% over the past three years. Declared Dividend • May 25
Dividend of NT$1.00 announced Shareholders will receive a dividend of NT$1.00. Ex-date: 2nd July 2026 Payment date: 31st July 2026 Dividend yield will be 0.4%, which is lower than the industry average of 3.0%. Payout Ratios Payout ratio: 12%. Cash payout ratio: 7%. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$197, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 44x in the Semiconductor industry in Taiwan. Total returns to shareholders of 163% over the past three years. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: NT$7.00 (vs NT$0.27 loss in 1Q 2025) First quarter 2026 results: EPS: NT$7.00 (up from NT$0.27 loss in 1Q 2025). Revenue: NT$7.27b (up 150% from 1Q 2025). Net income: NT$2.06b (up NT$2.14b from 1Q 2025). Profit margin: 28% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to NT$171. The fair value is estimated to be NT$216, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 21%. Buy Or Sell Opportunity • Mar 24
Now 25% undervalued Over the last 90 days, the stock has risen 69% to NT$163. The fair value is estimated to be NT$215, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 21%. Aankondiging • Mar 02
Elite Semiconductor Microelectronics Technology Inc., Annual General Meeting, May 22, 2026 Elite Semiconductor Microelectronics Technology Inc., Annual General Meeting, May 22, 2026. Location: 1 floor no,16, ta hsueh rd., east district, hsinchu city Taiwan Reported Earnings • Feb 27
Full year 2025 earnings released: EPS: NT$0.87 (vs NT$1.80 in FY 2024) Full year 2025 results: EPS: NT$0.87 (down from NT$1.80 in FY 2024). Revenue: NT$14.6b (up 8.1% from FY 2024). Net income: NT$245.1m (down 52% from FY 2024). Profit margin: 1.7% (down from 3.7% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 24% per year. Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: NT$0.05 (vs NT$0.74 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.05 (down from NT$0.74 in 3Q 2024). Revenue: NT$3.58b (up 4.8% from 3Q 2024). Net income: NT$13.5m (down 94% from 3Q 2024). Profit margin: 0.4% (down from 6.1% in 3Q 2024). Revenue is forecast to grow 9.0% 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 fallen by 42% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. New Risk • Oct 28
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 8.5% 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 Risks Share price has been highly volatile over the past 3 months (8.5% average weekly change). Earnings have declined by 40% per year over the past 5 years. New Risk • Sep 22
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 6.5% 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 40% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). Reported Earnings • Jul 31
Second quarter 2025 earnings released: NT$2.59 loss per share (vs NT$0.88 profit in 2Q 2024) Second quarter 2025 results: NT$2.59 loss per share (down from NT$0.88 profit in 2Q 2024). Revenue: NT$3.29b (down 8.1% from 2Q 2024). Net loss: NT$726.9m (down 395% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. New Risk • Jul 22
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk Earnings have declined by 33% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Upcoming Dividend • Jul 02
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 09 July 2025. Payment date: 07 August 2025. Payout ratio is a comfortable 58% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.3%). Declared Dividend • Jun 12
Dividend of NT$1.00 announced Shareholders will receive a dividend of NT$1.00. Ex-date: 9th July 2025 Payment date: 7th August 2025 Dividend yield will be 1.8%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 36% to shift the payout ratio to a potentially unsustainable range, which is more than the 6.9% EPS decline seen over the last 5 years. Aankondiging • Jun 11
Elite Semiconductor Microelectronics Technology Inc. Announces Board Changes Elite Semiconductor Microelectronics Technology Inc. announced board changes approved at 2025 AGM. Title and name of the previous position holder: Director: Chih-Hong Ho. Title and name of the new position holder: Director: Kuan-Chun Chang, Director: Legal Representative of Shanyi Investment Co., Ltd: Ming-Lin Shieh, Independent director: Yu-Kuan Lin. Resume of the previous position holder: Chih-Hong Ho: Director, Elite Semiconductor Microelectronics Technology Inc. Kuan-Chun Chang: Director & Senior Vice President, Elite Semiconductor Microelectronics Technology Inc. Ming-Lin Shieh: Director and President, Powerchip Investment Holding Corporation. Director, AP Memory Technology Corporation. Yu-Kuan Lin: Independent Director, Intelligo Technology Inc. Effective date of the new appointment is June 10, 2025. Aankondiging • Apr 22
Elite Semiconductor Microelectronics Technology Inc. to Report Q1, 2025 Results on Apr 29, 2025 Elite Semiconductor Microelectronics Technology Inc. announced that they will report Q1, 2025 results on Apr 29, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$48.60, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total loss to shareholders of 59% over the past three years. New Risk • Apr 07
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 6.7% 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 Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Large one-off items impacting financial results. New Risk • Mar 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,643% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Aankondiging • Feb 27
Elite Semiconductor Microelectronics Technology Inc., Annual General Meeting, Jun 10, 2025 Elite Semiconductor Microelectronics Technology Inc., Annual General Meeting, Jun 10, 2025. Location: 1 floor no,16, ta hsueh rd., east district, hsinchu city Taiwan Aankondiging • Feb 19
Elite Semiconductor Microelectronics Technology Inc. to Report Q4, 2024 Results on Feb 26, 2025 Elite Semiconductor Microelectronics Technology Inc. announced that they will report Q4, 2024 results on Feb 26, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: NT$0.74 (vs NT$0.57 loss in 3Q 2023) Third quarter 2024 results: EPS: NT$0.74 (up from NT$0.57 loss in 3Q 2023). Revenue: NT$3.41b (up 13% from 3Q 2023). Net income: NT$208.0m (up NT$367.7m from 3Q 2023). Profit margin: 6.1% (up from net loss in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Aankondiging • Oct 22
Elite Semiconductor Microelectronics Technology Inc. to Report Q3, 2024 Results on Oct 29, 2024 Elite Semiconductor Microelectronics Technology Inc. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Jul 31
Second quarter 2024 earnings released: EPS: NT$0.88 (vs NT$0.36 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.88 (up from NT$0.36 loss in 2Q 2023). Revenue: NT$3.58b (up 20% from 2Q 2023). Net income: NT$246.2m (up NT$347.0m from 2Q 2023). Profit margin: 6.9% (up from net loss in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Aankondiging • Jul 20
Elite Semiconductor Microelectronics Technology Inc. to Report Q2, 2024 Results on Jul 29, 2024 Elite Semiconductor Microelectronics Technology Inc. announced that they will report Q2, 2024 results on Jul 29, 2024 Aankondiging • Jul 03
Elite Semiconductor Microelectronics Tech Inc. Announces the Resignation of Chia-Neng Huang as Natural-Person Director Elite Semiconductor Microelectronics Tech Inc. announced the resignation of Chia-Neng Huang as natural-person director due to busy for private business. Declared Dividend • Jun 01
Dividend reduced to NT$0.60 Dividend of NT$0.60 is 67% lower than last year. Ex-date: 4th July 2024 Payment date: 31st July 2024 Dividend yield will be 0.7%, which is lower than the industry average of 3.0%. Aankondiging • May 31
Elite Semiconductor Microelectronics Tech Inc Announces Cash Dividend, Payable on July 31, 2024 Elite Semiconductor Microelectronics Tech Inc. announced cash dividend of TWD 0.6 per share. The Payment date of common stock cash dividend distribution of July 31, 2024 with Ex-rights (ex-dividend) record date of July 10, 2024 and Ex-rights (ex-dividend) trading date of July 4, 2024. Reported Earnings • Apr 27
First quarter 2024 earnings released: NT$0.21 loss per share (vs NT$1.32 loss in 1Q 2023) First quarter 2024 results: NT$0.21 loss per share (improved from NT$1.32 loss in 1Q 2023). Revenue: NT$3.34b (up 23% from 1Q 2023). Net loss: NT$58.0m (loss narrowed 84% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. New Risk • Mar 05
New major risk - Revenue and earnings growth Earnings have declined by 0.8% 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. This is currently the only risk that has been identified for the company. Aankondiging • Feb 28
Elite Semiconductor Microelectronics Tech Inc, Annual General Meeting, May 30, 2024 Elite Semiconductor Microelectronics Tech Inc, Annual General Meeting, May 30, 2024. Location: No. 16, Daxue Rd., East Dist., Hsinchu City, Taiwan The HO Hotel Zhu hu Hall Meeting, 1F Hsinchu City Taiwan Agenda: To consider Business report of 2023; to consider Report of audit committee audit the 2023 annual accounting books and statements; to consider Report of 2023 annual cash dividend situation from earnings distribution; to consider Report on the execution status of the Company's issue; and to transact such other business matters. Aankondiging • Dec 29
Elite Semiconductor Microelectronics Tech Inc Announces Director Changes Elite Semiconductor Microelectronics Tech Inc. announced that Name, title, and resume of the previous position holder: Candy ChuF Senior Director. Name, title, and resume of the new position holder: Hui-Wen Cheng Senior Director, effective from December 28, 2023. Reported Earnings • Nov 02
Third quarter 2023 earnings released: NT$0.57 loss per share (vs NT$0.30 profit in 3Q 2022) Third quarter 2023 results: NT$0.57 loss per share (down from NT$0.30 profit in 3Q 2022). Revenue: NT$3.02b (down 14% from 3Q 2022). Net loss: NT$159.7m (down 292% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. New Risk • Oct 05
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 6.0% 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (6.0% average weekly change). Reported Earnings • Aug 03
Second quarter 2023 earnings released: NT$0.36 loss per share (vs NT$3.35 profit in 2Q 2022) Second quarter 2023 results: NT$0.36 loss per share (down from NT$3.35 profit in 2Q 2022). Revenue: NT$2.98b (down 40% from 2Q 2022). Net loss: NT$100.8m (down 111% from profit in 2Q 2022). 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 24% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 27
Upcoming dividend of NT$1.80 per share at 2.3% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 31 July 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.2%). Aankondiging • May 31
Elite Semiconductor Microelectronics Tech Inc Approves Dividend Elite Semiconductor Microelectronics Tech Inc. announced at shareholders meeting held on May 30, 2023, the shareholders approved cash dividend of TWD 1.8 per share. Ex-rights (ex-dividend) trading date is July 7, 2023. Ex-rights (ex-dividend) record date is July 10, 2023. Payment date of cash dividend distribution is July 31, 2023. Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: NT$3.71 (vs NT$17.76 in FY 2021) Full year 2022 results: EPS: NT$3.71 (down from NT$17.76 in FY 2021). Revenue: NT$16.2b (down 32% from FY 2021). Net income: NT$1.04b (down 79% from FY 2021). Profit margin: 6.4% (down from 21% 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 50% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 8 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Cheng-Yan Chien was the last independent director to join the board, commencing their role in 2019. 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 • Oct 28
Third quarter 2022 earnings released: EPS: NT$0.30 (vs NT$6.80 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.30 (down from NT$6.80 in 3Q 2021). Revenue: NT$3.50b (down 49% from 3Q 2021). Net income: NT$83.3m (down 96% from 3Q 2021). Profit margin: 2.4% (down from 28% 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 71% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 19% share price gain to NT$71.50, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 11x in the Semiconductor industry in Taiwan. Total returns to shareholders of 151% over the past three years. Reported Earnings • Jul 31
Second quarter 2022 earnings released: EPS: NT$3.35 (vs NT$4.62 in 2Q 2021) Second quarter 2022 results: EPS: NT$3.35 (down from NT$4.62 in 2Q 2021). Revenue: NT$4.96b (down 20% from 2Q 2021). Net income: NT$940.8m (down 27% from 2Q 2021). Profit margin: 19% (down from 21% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$80.30, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 192% over the past three years. Upcoming Dividend • Jun 24
Upcoming dividend of NT$8.00 per share Eligible shareholders must have bought the stock before 01 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 8.0%. Within top quartile of Taiwanese dividend payers (6.4%). Higher than average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$95.10, the stock trades at a trailing P/E ratio of 4.9x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 230% over the past three years. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: NT$3.41 (vs NT$2.30 in 1Q 2021) First quarter 2022 results: EPS: NT$3.41 (up from NT$2.30 in 1Q 2021). Revenue: NT$5.08b (up 2.2% from 1Q 2021). Net income: NT$957.0m (up 49% from 1Q 2021). Profit margin: 19% (up from 13% in 1Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to NT$144 Up from NT$75.00, the current price target is provided by 1 analyst. New target price is 19% above last closing price of NT$121. Stock is down 27% over the past year. The company posted earnings per share of NT$17.76 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Cheng-Yan Chien was the last independent director to join the board, commencing their role in 2019. 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 • Apr 12
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$133, the stock trades at a trailing P/E ratio of 7.3x. Average forward P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 351% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 16% share price gain to NT$178, the stock trades at a trailing P/E ratio of 9.8x. Average forward P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 499% over the past three years. Reported Earnings • Feb 27
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: NT$17.76 (up from NT$3.85 in FY 2020). Revenue: NT$23.8b (up 56% from FY 2020). Net income: NT$4.98b (up 362% from FY 2020). Profit margin: 21% (up from 7.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.6%. Over the next year, revenue is forecast to grow 2.5%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 61% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improved over the past week After last week's 15% share price gain to NT$164, the stock trades at a trailing P/E ratio of 10.9x. Average forward P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 424% over the past three years. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS NT$6.80 (vs NT$0.85 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$6.84b (up 71% from 3Q 2020). Net income: NT$1.90b (up NT$1.67b from 3Q 2020). Profit margin: 28% (up from 5.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year whereas the company’s share price has increased by 66% per year. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 16% share price gain to NT$143, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 410% over the past three years. 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$113, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 291% over the past three years. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$156, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 365% over the past three years. Reported Earnings • Aug 02
Second quarter 2021 earnings released: EPS NT$4.62 (vs NT$1.00 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$6.18b (up 92% from 2Q 2020). Net income: NT$1.29b (up 363% from 2Q 2020). Profit margin: 21% (up from 8.7% 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 37% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 28
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 31 August 2021. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 20% share price gain to NT$197, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 448% over the past three years. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 22% share price gain to NT$147, the stock trades at a trailing P/E ratio of 29.1x. Average forward P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 312% over the past three years. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 20% share price gain to NT$117, the stock trades at a trailing P/E ratio of 23.2x. Average forward P/E is 14x in the Semiconductor industry in Taiwan. Total returns to shareholders of 217% over the past three years. Reported Earnings • May 07
First quarter 2021 earnings released: EPS NT$2.30 (vs NT$1.11 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$4.97b (up 36% from 1Q 2020). Net income: NT$644.6m (up 107% from 1Q 2020). Profit margin: 13% (up from 8.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improved over the past week After last week's 16% share price gain to NT$168, the stock trades at a trailing P/E ratio of 43.7x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 398% over the past three years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improved over the past week After last week's 16% share price gain to NT$106, the stock trades at a trailing P/E ratio of 27.4x. Average forward P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 176% over the past three years. Reported Earnings • Mar 02
Full year 2020 earnings released: EPS NT$3.85 (vs NT$1.78 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$15.3b (up 27% from FY 2019). Net income: NT$1.08b (up 116% from FY 2019). Profit margin: 7.1% (up from 4.2% in FY 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 but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Mar 02
Revenue misses expectations Revenue missed analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 6.8%, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Aankondiging • Feb 27
Elite Semiconductor Microelectronics Tech Inc, Annual General Meeting, Jun 16, 2021 Elite Semiconductor Microelectronics Tech Inc, Annual General Meeting, Jun 16, 2021. Location: No. 773, Minghu Rd., East Dist. Lakeshore Hotel Eiffel Banquet Room, Leith Castle 2F Hsinchu City Taiwan Agenda: To consider business report of 2020; to consider audit committee's review report of 2020; to report 2020 employees’ compensation and directors remuneration; to consider 2020 business report and financial statements; to consider distribution of 2020 retained earnings; to revise the Articles of Incorporation; and to revise the Procedures for Election of Directors. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment improved over the past week After last week's 15% share price gain to NT$72.60, the stock is trading at a trailing P/E ratio of 19.6x, up from the previous P/E ratio of 16.9x. This compares to an average P/E of 27x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 98%. Is New 90 Day High Low • Feb 18
New 90-day high: NT$72.60 The company is up 56% from its price of NT$46.65 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. Is New 90 Day High Low • Jan 14
New 90-day high: NT$69.50 The company is up 71% from its price of NT$40.70 on 16 October 2020. The Taiwanese 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 34% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: NT$65.80 The company is up 79% from its price of NT$36.80 on 29 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. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 17% share price gain to NT$65.80, the stock is trading at a trailing P/E ratio of 17.7x, up from the previous P/E ratio of 15.1x. 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 76%. Is New 90 Day High Low • Dec 07
New 90-day high: NT$60.10 The company is up 62% from its price of NT$37.10 on 08 September 2020. The Taiwanese market is up 12% 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. Valuation Update With 7 Day Price Move • Dec 07
Market bids up stock over the past week After last week's 19% share price gain to NT$60.10, the stock is trading at a trailing P/E ratio of 16.2x, up from the previous P/E ratio of 13.6x. This compares to an average P/E of 25x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 61%. Valuation Update With 7 Day Price Move • Nov 23
Market bids up stock over the past week After last week's 22% share price gain to NT$51.30, the stock is trading at a trailing P/E ratio of 13.9x, up from the previous P/E ratio of 11.4x. 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 24%. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS NT$0.85 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$4.00b (up 23% from 3Q 2019). Net income: NT$237.8m (up 185% from 3Q 2019). Profit margin: 5.9% (up from 2.6% in 3Q 2019). 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 whereas the company’s share price has fallen by 3% per year.