eMemory Technology Inc.

TPEX:3529 Stock Report

Market Cap: NT$229.2b

eMemory Technology Valuation

Is 3529 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 3529 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3529 (NT$3070) is trading above our estimate of fair value (NT$589.56)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3529?

Key metric: As 3529 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3529. This is calculated by dividing 3529's market cap by their current earnings.
What is 3529's PE Ratio?
PE Ratio133x
EarningsNT$1.72b
Market CapNT$229.22b

Price to Earnings Ratio vs Peers

How does 3529's PE Ratio compare to its peers?

The above table shows the PE ratio for 3529 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average55.8x
3653 Jentech Precision Industrial
71.9xn/aNT$202.2b
2379 Realtek Semiconductor
18.2x15.0%NT$256.4b
3443 Global Unichip
51.1x22.9%NT$169.5b
5274 ASPEED Technology
82.2x38.8%NT$159.2b
3529 eMemory Technology
133x29.6%NT$229.2b

Price-To-Earnings vs Peers: 3529 is expensive based on its Price-To-Earnings Ratio (133x) compared to the peer average (55.8x).

Price to Earnings Ratio vs Industry

How does 3529's PE Ratio compare vs other companies in the TW Semiconductor Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
4944 Crystalwise Technology
4xn/aUS$15.69m
No more companies available in this PE range
3529 133.0xIndustry Avg. 30.5xNo. of Companies30PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 3529 is expensive based on its Price-To-Earnings Ratio (133x) compared to the TW Semiconductor industry average (30.5x).

Price to Earnings Ratio vs Fair Ratio

What is 3529's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

3529 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio133x
Fair PE Ratio40.9x

Price-To-Earnings vs Fair Ratio: 3529 is expensive based on its Price-To-Earnings Ratio (133x) compared to the estimated Fair Price-To-Earnings Ratio (40.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 3529 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$3,070.00
NT$3,894.00
+26.8%
14.3%NT$4,760.00NT$3,000.00n/a5
Nov ’25NT$3,260.00
NT$3,058.00
-6.2%
11.2%NT$3,475.00NT$2,550.00n/a5
Oct ’25NT$2,740.00
NT$2,958.00
+8.0%
10.1%NT$3,475.00NT$2,550.00n/a5
Sep ’25NT$2,635.00
NT$2,958.00
+12.3%
10.1%NT$3,475.00NT$2,550.00n/a5
Aug ’25NT$2,265.00
NT$3,063.00
+35.2%
12.8%NT$3,700.00NT$2,550.00n/a5
Jul ’25NT$2,550.00
NT$3,063.00
+20.1%
12.8%NT$3,700.00NT$2,550.00n/a5
Jun ’25NT$2,200.00
NT$3,013.00
+37.0%
12.6%NT$3,700.00NT$2,550.00n/a5
May ’25NT$2,225.00
NT$3,250.00
+46.1%
7.4%NT$3,700.00NT$3,000.00n/a5
Apr ’25NT$2,515.00
NT$3,310.00
+31.6%
7.8%NT$3,700.00NT$3,000.00n/a5
Mar ’25NT$2,855.00
NT$3,310.00
+15.9%
7.8%NT$3,700.00NT$3,000.00n/a5
Feb ’25NT$2,800.00
NT$2,726.00
-2.6%
14.0%NT$3,250.00NT$2,150.00n/a5
Jan ’25NT$2,450.00
NT$2,657.50
+8.5%
15.0%NT$3,250.00NT$2,150.00n/a4
Dec ’24NT$2,425.00
NT$2,460.00
+1.4%
8.7%NT$2,750.00NT$2,150.00n/a4
Nov ’24NT$2,090.00
NT$2,165.00
+3.6%
17.8%NT$2,550.00NT$1,610.00NT$3,260.004
Oct ’24NT$2,015.00
NT$2,165.00
+7.4%
17.8%NT$2,550.00NT$1,610.00NT$2,740.004
Sep ’24NT$1,880.00
NT$2,070.00
+10.1%
27.5%NT$2,550.00NT$1,000.00NT$2,635.005
Aug ’24NT$1,835.00
NT$2,020.00
+10.1%
26.7%NT$2,550.00NT$1,000.00NT$2,265.005
Jul ’24NT$2,210.00
NT$2,020.00
-8.6%
26.7%NT$2,550.00NT$1,000.00NT$2,550.005
Jun ’24NT$1,880.00
NT$1,862.50
-0.9%
27.2%NT$2,250.00NT$1,000.00NT$2,200.004
May ’24NT$1,825.00
NT$1,600.00
-12.3%
37.5%NT$2,200.00NT$1,000.00NT$2,225.002
Apr ’24NT$1,860.00
NT$1,600.00
-14.0%
37.5%NT$2,200.00NT$1,000.00NT$2,515.002
Mar ’24NT$1,950.00
NT$1,425.00
-26.9%
28.3%NT$2,050.00NT$1,000.00NT$2,855.004
Feb ’24NT$1,630.00
NT$1,402.00
-14.0%
20.2%NT$1,750.00NT$1,000.00NT$2,800.005
Jan ’24NT$1,335.00
NT$1,402.00
+5.0%
20.2%NT$1,750.00NT$1,000.00NT$2,450.005
Dec ’23NT$1,510.00
NT$1,380.00
-8.6%
19.5%NT$1,750.00NT$1,000.00NT$2,425.005
Nov ’23NT$1,125.00
NT$1,308.00
+16.3%
15.9%NT$1,550.00NT$1,000.00NT$2,090.005

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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