eMemory Technology (TPEX:3529) - Share price, News & Analysis

3529 fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	5/6
Past Performance	5/6
Financial Health	6/6
Dividends	0/6

3529 Stock Overview

Rewards

Earnings are forecast to grow 28.78% per year

Earnings have grown 14% per year over the past 5 years

Risk Analysis

Highly volatile share price over the past 3 months

eMemory Technology Competitors

MediaTek

TWSE:2454

NT$1.3t

Novatek Microelectronics

TWSE:3034

NT$235.8b

Global Unichip

TWSE:3443

NT$75.4b

Alchip Technologies

TWSE:3661

NT$59.0b

Price History & Performance

Summary of all time highs, changes and price drops for eMemory Technology
Historical stock prices
Current Share Price	NT$1,380.00
52 Week High	NT$2,520.00
52 Week Low	NT$931.00
Beta	1.33
1 Month Change	22.12%
3 Month Change	-25.20%
1 Year Change	47.12%
3 Year Change	269.97%
5 Year Change	253.85%
Change since IPO	2,843.57%

Shareholder Returns

	3529	TW Semiconductor	TW Market
7D	-3.5%	-2.6%	-1.2%
1Y	47.1%	-8.7%	-2.8%

Return vs Industry: 3529 exceeded the TW Semiconductor industry which returned -8.7% over the past year.

Return vs Market: 3529 exceeded the TW Market which returned -2.8% over the past year.

Price Volatility

Is 3529's price volatile compared to industry and market?
3529 volatility
3529 Average Weekly Movement	9.8%
Semiconductor Industry Average Movement	5.5%
Market Average Movement	4.6%
10% most volatile stocks in TW Market	8.2%
10% least volatile stocks in TW Market	2.1%

Stable Share Price: 3529 is more volatile than 90% of TW stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: 3529's weekly volatility (10%) has been stable over the past year, but is still higher than 75% of TW stocks.

About the Company

Founded	Employees	CEO	Website
2000	n/a	Michael Ho	https://www.ememory.com.tw

eMemory Technology Inc. researches, develops, manufactures, and sells flash memory integrated circuits (IC), embedded flash memory IC IP, memory card output/input controllers, and memory card and digital film related products. The company offers NeoBit, a programmable logic device that embeds into various CMOS processes, including logic, mixed-mode, bipolar-CMOS-DMOS (BCD), analog, radio frequency (RF), and high-voltage (HV); and NeoFuse, a small-form-factor logic non-volatile storage functions for use in IDs, production record, encryption code, and ROM replacement, as well as analog trimming, function selection, and parameter setting applications. Its NeoFuse is also used in set-top boxes, digital TV, CMOS imaging sensors, application and baseband processors, LCD drivers, and power management ICs.

eMemory Technology Fundamentals Summary

How do eMemory Technology's earnings and revenue compare to its market cap?
3529 fundamental statistics
Market Cap	NT$102.89b
Earnings (TTM)	NT$1.17b
Revenue (TTM)	NT$2.49b

87.6x

P/E Ratio

41.3x

P/S Ratio

Is 3529 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
3529 income statement (TTM)
Revenue	NT$2.49b
Cost of Revenue	NT$0
Gross Profit	NT$2.49b
Other Expenses	NT$1.32b
Earnings	NT$1.17b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	15.75
Gross Margin	100.00%
Net Profit Margin	47.08%
Debt/Equity Ratio	0%

How did 3529 perform over the long term?

See historical performance and comparison

Dividends

1.0%

Current Dividend Yield

89%

Payout Ratio

Valuation

Is eMemory Technology undervalued compared to its fair value and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

87.63x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: 3529 (NT$1380) is trading above our estimate of fair value (NT$668.3)

Significantly Below Fair Value: 3529 is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: 3529 is poor value based on its Price-To-Earnings Ratio (87.6x) compared to the TW Semiconductor industry average (14.6x).

PE vs Market: 3529 is poor value based on its Price-To-Earnings Ratio (87.6x) compared to the TW market (15x).

Price to Earnings Growth Ratio

PEG Ratio: 3529 is poor value based on its PEG Ratio (3x)

Price to Book Ratio

PB vs Industry: 3529 is overvalued based on its Price-To-Book Ratio (36.1x) compared to the TW Semiconductor industry average (2.4x).

Future Growth

How is eMemory Technology forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

28.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3529's forecast earnings growth (28.8% per year) is above the savings rate (0.7%).

Earnings vs Market: 3529's earnings (28.8% per year) are forecast to grow faster than the TW market (6.9% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 3529's revenue (22.4% per year) is forecast to grow faster than the TW market (7% per year).

High Growth Revenue: 3529's revenue (22.4% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if 3529's Return on Equity is forecast to be high in 3 years time

Past Performance

How has eMemory Technology performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

14.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 3529 has high quality earnings.

Growing Profit Margin: 3529's current net profit margins (47.1%) are higher than last year (42.1%).

Past Earnings Growth Analysis

Earnings Trend: 3529's earnings have grown by 14% per year over the past 5 years.

Accelerating Growth: 3529's earnings growth over the past year (42.5%) exceeds its 5-year average (14% per year).

Earnings vs Industry: 3529 earnings growth over the past year (42.5%) underperformed the Semiconductor industry 67%.

Return on Equity

High ROE: 3529's Return on Equity (40.4%) is considered outstanding.

Financial Health

How is eMemory Technology's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 3529's short term assets (NT$3.1B) exceed its short term liabilities (NT$719.8M).

Long Term Liabilities: 3529's short term assets (NT$3.1B) exceed its long term liabilities (NT$23.7M).

Debt to Equity History and Analysis

Debt Level: 3529 is debt free.

Reducing Debt: 3529 had no debt 5 years ago.

Debt Coverage: 3529 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 3529 has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is eMemory Technology current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

1.01%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 3529's dividend (1.01%) isn’t notable compared to the bottom 25% of dividend payers in the TW market (2.39%).

High Dividend: 3529's dividend (1.01%) is low compared to the top 25% of dividend payers in the TW market (6.06%).

Stability and Growth of Payments

Stable Dividend: 3529 is not paying a notable dividend for the TW market, therefore no need to check if payments are stable.

Growing Dividend: 3529 is not paying a notable dividend for the TW market, therefore no need to check if payments are increasing.

Earnings Payout to Shareholders

Earnings Coverage: 3529 is not paying a notable dividend for the TW market.

Cash Payout to Shareholders

Cash Flow Coverage: 3529 is not paying a notable dividend for the TW market.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.5yrs

Average management tenure

CEO

Michael Ho

0.50

Tenure

Mr. Michael Ho serves as President at eMemory Technology Inc. from November 01, 2021 and served as its Senior Vice President of Business Development since 2020 until November 2021. He had been Vice Preside...

Leadership Team

Experienced Management: 3529's management team is seasoned and experienced (6.5 years average tenure).

Board Members

Experienced Board: 3529's board of directors are considered experienced (8.4 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/26 00:00
End of Day Share Price	2022/05/26 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31