Valuation Update With 7 Day Price Move • 16h
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$669, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 29x in the Semiconductor industry in Taiwan. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$667 per share. Declared Dividend • Apr 29
Dividend of NT$8.75 announced Shareholders will receive a dividend of NT$8.75. Ex-date: 20th August 2026 Payment date: 18th September 2026 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 24
Parade Technologies, Ltd. Provides Earnings Guidance for the Second Quarter of Fiscal 2026 Parade Technologies, Ltd. provided earnings guidance for the second quarter of fiscal 2026. For the first quarter of fiscal 2026, the company expects revenue of USD 127.0 million ~ USD 141.0 million. Reported Earnings • Apr 23
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: NT$6.77 (down from NT$8.38 in 1Q 2025). Revenue: NT$3.99b (down 3.9% from 1Q 2025). Net income: NT$529.2m (down 20% from 1Q 2025). Profit margin: 13% (down from 16% in 1Q 2025). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 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 4% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Apr 07
Parade Technologies, Ltd. to Report Q1, 2026 Results on Apr 22, 2026 Parade Technologies, Ltd. announced that they will report Q1, 2026 results at 1:40 PM, Taipei Standard Time on Apr 22, 2026 Announcement • Apr 02
Parade Technologies Announces Availability Of PS8651V DP 2.1a/HBR3 1:2 MST Hub Controller Parade Technologies, Ltd. announced the availability of PS8651V DP 2.1a/HBR3 1:2 MST hub controller for automotive, accessories and video display designs that need DP/eDP port expansion. It adds to Parade’s DP MST Hub solutions which include the PS8650 DP 2.1a/UHBR20 1:4 MST hub controller already on the market. The PS8651V is compliant with VESA DisplayPort v2.1a and eDP 1.5 specifications up to HBR3 or 8.1Gbps/lane link rate, up to 4 lanes. It is AEC-Q100 Grade 2 (-40°C to +105°C ambient temperature) qualified for automotive applications. The DP receiver supports MST (Multi-Stream Transport) and SST (Single Stream Transport) modes. The two transmitters each can support DP 2.1a /eDP 1.5 and are capable of MST (Multi-Stream Transport) and SST (Single Stream Transport) modes and single video split of a super frame in SST input mode as well as lane count/link rate conversion. It is VESA DSC 1.2a (Display Stream Compression) decode and compressed video pass-through capable. PS8651V provides flexible port expansion for DP and eDP connections. Its low power design eases thermal design constraints in automotive applications, eliminating the need for a heat sink. The PS865x MST hub family complements Parade’s TC1316V eDP Touch and Tcon Embedded Driver and PS8461V DisplayPort Retimer with 2:1 inputs mux products in automotive infotainment display systems. The PS8651V is mass production ready now. It is available in a 9.5mm x 13.5mm 102-pin QFN package. Upcoming Dividend • Mar 26
Upcoming dividend of NT$8.91 per share Eligible shareholders must have bought the stock before 02 April 2026. Payment date: 28 April 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (1.4%). Reported Earnings • Mar 17
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: NT$34.51 (up from NT$32.55 in FY 2024). Revenue: NT$16.5b (up 1.8% from FY 2024). Net income: NT$2.73b (up 5.2% from FY 2024). Profit margin: 17% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 6.5% 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 fallen by 8% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Feb 17
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from NT$17.8b to NT$17.2b. EPS estimate also fell from NT$42.23 per share to NT$35.16 per share. Net income forecast to grow 0.1% next year vs 43% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$694 to NT$601. Share price was steady at NT$508 over the past week. Announcement • Feb 12
Parade Technologies, Ltd. Announces Sampling Availability of eDP 1.5TTED In-Cell Device with Active Stylus Function for Mainstream Notebook Market Parade Technologies, Ltd. announced sampling availability of the TC3410-AS device, the industry's first single-chip Touch with TCON Embedded Driver (TTED) solution with integrated active stylus support for 1920 x 1200 (WUXGA) resolution. This new device drastically reduces the silicon, hardware, sensor costs and logistical complexity associated with adding active stylus capability to existing touchscreen panels. The TC3410-AS device combines Parade's broad portfolio of patented touchscreen technology and market proven eDP TCON, in-cell and high-speed signal technology, to provide excellent picture quality at 120 Hz display with responsive 240 Hz active stylus performance. The TC3410-as leverages Parade's TrueTouch™? patented technology and design expertise, built on the experience of shipping more than one billion touch devices and proven in-cell performance in the notebook market. TC3410-AS builds on the flexibility and production experience of TC3408 and TC3410 to enable customers another feature option to address the touch and pen needs of their products. The TC3410- AS supports asynchronous touch scanning which allows displays to function at variable refresh rates without losing active pen synchronization. Parade has also worked extensively with active stylus industry standards to minimize the touch scanning interval without compromising touch performance. This ensures excellent picture quality by allowing maximum time for source settling. TC3410-AS is footprint compatible with production proven TC3408 and TC34 10 glass designs, which have been widely adopted across common screen sizes by major LCD panel makers in the WUXGA notebook space. This allows panel makers the option to simply replace the TTED device on glass without any other circuit changes in response to various project needs from OEM customers. In addition, TC3410-AS has built in on-chip circuits to support TPMUX-on-glass which enables the connection of the touch sensors required to support up to 16.0" displays without increasing chip complexity. Price Target Changed • Feb 11
Price target decreased by 7.7% to NT$640 Down from NT$694, the current price target is an average from 12 analysts. New target price is 27% above last closing price of NT$505. Stock is down 27% over the past year. The company is forecast to post earnings per share of NT$35.61 for next year compared to NT$34.51 last year. Reported Earnings • Feb 11
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: NT$34.51 (up from NT$32.55 in FY 2024). Revenue: NT$16.5b (up 1.8% from FY 2024). Net income: NT$2.73b (up 5.2% from FY 2024). Profit margin: 17% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Announcement • Nov 12
Parade Technologies, Ltd. Introduces the TC1316V Device Parade Technologies, Ltd. introduced the TC1316V device, the world's first fully integrated AEC-Q100 qualified embedded DisplayPort (eDP) Touch with Tcon Embedded Driver (TTED). This new device targets next-generation automotive cockpit LCD displays requiring high resolution and high refresh rates. The TC1316V combines Parade's broad portfolio of patented touchscreen technology and market proven eDP Tcon, in-cell and high-speed signal technology, to provide excellent picture quality and responsive touch performance. The TC1316V leverages Parade's TrueTouch™? patented technology and design expertise, built on the experience of shipping over one billion touch devices and proven in-cell performance from the consumer notebook market. The device delivers superior EMI suppression, low power consumption and advanced signal processing algorithms to ensure reliable and responsive touch for the automotive cabin. With its eDP interface, the TC1316V extends the single-chip design space for automotive displays from 15.6" 2560x 1440 at 60 Hz display refresh to 18.0" 2880 x 1800 resolution at 120 Hz display refresh. In addition, the TC1316V offers teletext OSD support for emergency icon display and redundant firmware storage for self-recovery in the event the application firmware becomes corrupted. Multiple TC1316V chips can be used to support up to 30" displays with a maximum display resolution of 5760*720. On-chip circuits support TPMUX-on-glass and the high-SNR of the integrated analog front ends (AFEs) ensures excellent touch performance without compromising display quality. The TC1316V paired with Parade's PS865XV family of MST hub devices provides a complete system solution to split a single high-bandwidth eDP stream from the de- serializer to drive multiple cockpit displays. Board Change • Nov 11
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 Shu-Yu Lee was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buy Or Sell Opportunity • Oct 31
Now 22% undervalued Over the last 90 days, the stock has risen 12% to NT$682. The fair value is estimated to be NT$870, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.1% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 37% in the next 2 years. Reported Earnings • Oct 30
Third quarter 2025 earnings: EPS in line with expectations, revenues disappoint Third quarter 2025 results: EPS: NT$10.45 (up from NT$9.57 in 3Q 2024). Revenue: NT$4.38b (flat on 3Q 2024). Net income: NT$815.9m (up 7.1% from 3Q 2024). Profit margin: 19% (up from 17% in 3Q 2024). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 9.9% p.a. on average during the next 3 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 22% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Oct 29
Parade Technologies, Ltd. Provides Earnings Guidance for the Fourth Quarter of Fiscal 2025 Parade Technologies, Ltd. provided earnings guidance for the fourth quarter of fiscal 2025. For the quarter, the company expects Revenue of USD 123.50 ~136.50 Million. Announcement • Oct 15
Parade Technologies, Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Parade Technologies, Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 New Risk • Sep 19
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: 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 (6.7% average weekly change). Announcement • Sep 17
Parade Technologies, Ltd. Announces the Availability of the PS8780 USB4 Version 2 Parade Technologies, Ltd. announced the availability of the PS8780 USB4 Version 2 (USB4v2) Gen 4 /TBT5 /DP 2.1 Alt Mode bi-directional linear redriver for active cable and NB/PC/WS system applications. It is pin compatible with the PS8778 USB4 Gen 3 /TBT4 /DP 2.1 Alt mode bi-directional linear red river. The PS8780 supports USB4v2 up to Gen 4x2 or 2x 40Gbps symmetric and 120Gbps asymmetric modes, TBT5 2x41.25Gbps, and DP 2.1 Alt Mode UHBR20 link rates. It implements USB4, USB 3.2 and DP 2.1a power management including DP 2.1a Advanced Link Power Management (ALPM). Its low power design and Modern Standby support greatly extend battery life for mobile devices and minimize power consumption for active cables. PS8780 comes in a very small package, ideal for cables or space constrained designs. PS8780 enables much longer cable lengths with full USB4v2 performance than 1 meter or 3.3 ft., typical of passive cables on the market. It extends system PCB trace lengths when cascaded with a USB4v2 retimer between the SoC (USB4v2 router) and USB-C/USB4 connector. The PS8780 is sampling. It comes in a 2.8mm x 4.4mm 28-pin QFN Halogen free RoHS package. Announcement • Sep 03
Parade Technologies, Ltd. Introduces the Availability of Four New PCIe Gen 6 (64GT/s) Linear Redrivers for Server, Storage and High Performance AI Scale-Up Data Center Cabling Solutions Parade Technologies, Ltd. introduced the availability of four new PCIe Gen 6 (64GT/s) linear redrivers for server, storage and high performance AI scale-up Data Center cabling solutions. With industry leading linearity, the PCIe Gen6 family of redrivers provide programmable EQ boosts up to 18dB, while operating from a single supply. The PS8594/PS8598/PS8596 devices utilize Parade Speed Migration Path (PSMP) methodology - matching the Intel PCIe 6.0 Standard Ball Map - for easier highspeed routing and evaluation and between PCIe retimers and Parade Linear redrivers. Fully compatible with all previous PCIe specifications, the PS859X series is an excellent choice for motherboard, backplane, AIC and cable applications. Upcoming Dividend • Aug 14
Upcoming dividend of NT$9.28 per share Eligible shareholders must have bought the stock before 21 August 2025. Payment date: 19 September 2025. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (2.1%). Price Target Changed • Aug 09
Price target increased by 7.3% to NT$662 Up from NT$617, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of NT$677. Stock is down 4.4% over the past year. The company is forecast to post earnings per share of NT$37.90 for next year compared to NT$32.55 last year. Reported Earnings • Aug 08
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$8.95 (up from NT$7.11 in 2Q 2024). Revenue: NT$4.11b (up 5.2% from 2Q 2024). Net income: NT$702.3m (up 24% from 2Q 2024). Profit margin: 17% (up from 14% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 2.3%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Aug 07
Parade Technologies, Ltd. Provides Earnings Guidance for the Third Quarter of Fiscal 2025 Parade Technologies, Ltd. provided earnings guidance for the third quarter of fiscal 2025. For the quarter, the company expects Revenue of USD 140 million ~ USD 154 million. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$668, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$856 per share. Announcement • Jun 12
Parade Technologies, Ltd. Elects Shu-Yu Lee as Independent Director Parade Technologies, Ltd. at its AGM, held on June 11, 2025, approved elected Independent Director: Shu-Yu Lee. Declared Dividend • Apr 25
Dividend of NT$8.93 announced Shareholders will receive a dividend of NT$8.93. Ex-date: 21st August 2025 Payment date: 19th September 2025 Dividend yield will be 3.2%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 64% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 24
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: NT$8.38 (up from NT$7.21 in 1Q 2024). Revenue: NT$4.15b (up 8.8% from 1Q 2024). Net income: NT$664.1m (up 16% from 1Q 2024). Profit margin: 16% (up from 15% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.8%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in Taiwan. 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 30% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$519, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total loss to shareholders of 60% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$765 per share. Announcement • Apr 08
Parade Technologies, Ltd. to Report Q1, 2025 Results on Apr 23, 2025 Parade Technologies, Ltd. announced that they will report Q1, 2025 results on Apr 23, 2025 Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$566, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 20x in the Semiconductor industry in Taiwan. Total loss to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$798 per share. Buy Or Sell Opportunity • Mar 28
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to NT$608. The fair value is estimated to be NT$799, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Reported Earnings • Mar 14
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: NT$32.55 (up from NT$25.73 in FY 2023). Revenue: NT$16.2b (up 18% from FY 2023). Net income: NT$2.59b (up 28% from FY 2023). Profit margin: 16% (up from 15% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Announcement • Mar 06
Parade Technologies, Ltd., Annual General Meeting, Jun 11, 2025 Parade Technologies, Ltd., Annual General Meeting, Jun 11, 2025. Location: 7 floor no,236, sec.4 shen yih rd., taipei city Taiwan Buy Or Sell Opportunity • Mar 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.0% to NT$662. The fair value is estimated to be NT$834, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Upcoming Dividend • Feb 28
Upcoming dividend of NT$7.19 per share Eligible shareholders must have bought the stock before 04 March 2025. Payment date: 28 March 2025. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.3%). In line with average of industry peers (2.1%). Announcement • Feb 14
Parade Technologies, Ltd. Announces Cash Dividend Parade Technologies, Ltd.'s Boards approval of the adjustment of the rate of cash dividend of TWD 7.18806219 per share. Type and monetary amount of original dividend distribution: Cash dividends TWD 570,088,023 (TWD 7.02 per share). 3.Type and monetary amount of dividend distribution after the change: Cash dividends TWD 570,088,023 (TWD 7.18806219 per share). Reason for the change: The cash dividend rate of 1st half of 2024 profits distribution plan is changed due to the change of total issued and outstanding shares of the Company. The Chairman of the Board of Directors of the Company is authorized to adjust the ultimate cash dividend per share based on the total amount of profits resolved to be distributed in Board Meeting on October 30, 2024 (Taiwan Time). Ex-dividend trading date: March 04, 2025. Ex-dividend record date: March 10, 2025. Buy Or Sell Opportunity • Feb 11
Now 21% undervalued Over the last 90 days, the stock has risen 2.1% to NT$691. The fair value is estimated to be NT$878, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Reported Earnings • Feb 06
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: NT$32.55 (up from NT$25.73 in FY 2023). Revenue: NT$16.2b (up 18% from FY 2023). Net income: NT$2.59b (up 28% from FY 2023). Profit margin: 16% (up from 15% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% 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 40% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Announcement • Feb 05
Parade Technologies, Ltd. Provides Earnings Guidance for the First Quarter of Fiscal 2025 Parade Technologies, Ltd. provided earnings guidance for the first quarter of fiscal 2025. Based on current business outlook, Parade is providing the following guidance for the first quarter of fiscal 2025: Revenue to be USD 121.0 ~USD 134.0 Million and Gross Margin: 42% ~46%. Announcement • Jan 15
Parade Technologies, Ltd. to Report Q4, 2024 Results on Feb 05, 2025 Parade Technologies, Ltd. announced that they will report Q4, 2024 results at 1:40 PM, Taipei Standard Time on Feb 05, 2025 Price Target Changed • Nov 03
Price target decreased by 8.1% to NT$792 Down from NT$861, the current price target is an average from 14 analysts. New target price is 17% above last closing price of NT$676. Stock is down 32% over the past year. The company is forecast to post earnings per share of NT$32.76 for next year compared to NT$25.73 last year. Declared Dividend • Nov 01
Dividend of NT$7.02 announced Shareholders will receive a dividend of NT$7.02. Ex-date: 4th March 2025 Payment date: 28th March 2025 Dividend yield will be 2.1%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 31
Third quarter 2024 earnings: EPS in line with expectations, revenues disappoint Third quarter 2024 results: EPS: NT$9.57 (up from NT$7.72 in 3Q 2023). Revenue: NT$4.40b (up 19% from 3Q 2023). Net income: NT$761.7m (up 25% from 3Q 2023). Profit margin: 17% (in line with 3Q 2023). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Announcement • Oct 16
Parade Technologies, Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Parade Technologies, Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Announcement • Oct 10
Parade Introduces New eDP Tcon Optimized for Hdr Gaming Displays Up to Uhd Resolution Parade Technologies, Ltd. announced a series of new eDP Tcon devices developed for high-performance PC gaming applications. DP826 enables resolution support up to WUXGA 360Hz. DP827 enables resolution support up to WQXGA 240Hz and DP828 enables resolution support up to UHD 144Hz. The DP828 supports UHD (3840x2160) displays up to 144Hz refresh rate and a derivative part number DP828A supports 2880x1800 and 3000x2000 displays up to 180Hz refresh rate. It supports GPU brand-specific variants including Intel IDT (Intelligent Display Technology), LOBF-Link Off Between active Frame, AMD Freesync Premium Pro, Freesync Replay and Freesync Fast Transport as well as Nvidia G-Sync and DDS (Dynamic Display Switching), and it supports 30-bit input and global dimming for DisplayHDR 400 performance. The DP828 provides full eDP 1.5 functionality including Panel Replay (PR) which is the preferred function to use for Panel Self Refresh, Early Transport, and other advanced features. It accepts up to four lanes on the eDP interface with link rates up to 8.1 Gbps (HBR3). The DP826 and DP827 provide an identical feature set, but with high refresh rates and lower display resolution applications. The new DP826, DP827 and DP828 devices offer backward compatibility with eDP 1.4b and earlier eDP Source devices on the market. The new Tcons and source drivers interconnect through the proprietary Parade SIPI™? (Scalable Intra Panel Interface) standard. SIPI provides a low power, low EMI, error-resilient, high-speed interface from the Tcon to source drivers. The new source drivers support bit rates up to 2.8 Gbps per SIPI channel. Availability: Both DP826 and DP8 27 are packaged in 112-ball 5x11mm2 BGA package. Both DP828A and DP828 are packaged in 144-ball 5.5x12mm2 BGA package. Samples are available now. Announcement • Sep 05
Parade Technologies, Ltd. Introduces USB4 Dock Controller Parade Technologies, Ltd. introduced the PS9010 USB4 dock controller as the newest member of Parade's USB4 product family. Designed to meet the rising demand for high-speed, multi-protocol connectivity, the PS9010 sets a new standard for USB4 peripheral controllers, offering unprecedented performance, versatility, and power efficiency. The PS9010 is built to optimize the user experience in modern computing environments where high-bandwidth data transfers and display connections are critical. The chip seamlessly integrates support for USB4, Thunderbolt 3, DisplayPort 2.1, and SuperSpeed USB, ensuring compatibility with a wide range of devices and peripherals. Leveraging Parade's USB4 PHY technology, the PS9010 is fully compliant with USB4, USB 3.2, and related USB-IF specifications, as well as VESA's DisplayPort standards. Whether used in docking stations, monitors, or external peripheral devices, this chip ensures smooth and reliable performance across all connection types. Additionally, the PS9010's integrated PCI Express, DisplayPort, and USB 3.2 tunneling functionality provides the ultimate flexibility for complex peripheral setups. With sustainability in mind, Parade has designed the PS9010 to minimize power consumption without sacrificing performance. The PS9010's low power consumption enables end-products to achieve energy-efficient operations, even in high-demand scenarios. The mechanical and thermal design is simplified, as no heatsink is required in typical applications, and the chip's small footprint further increases its possibilities. The launch of the PS9010 USB 4 dock controller marks a significant milestone in Parade's ongoing commitment to advancing connectivity technology. With its high-speed data transfers and seamless multi-protocol support, the PS9010 enables more possibilities with faster communication and better user experience between AI-driven peripheral controllers, such as external GPUs, smart displays, and data-heavy storage solutions. Together with just announced DisplayPort MST hub controller, DisplayPort to HDMI 2.1 protocol converters, and USB 3.2 hub controllers, Parade offers a one-stop shop for USB4 dock solutions. The PS9010 is available in an 8.5mm x 11.5mm 274-ball BGA package and is sampling now. Buy Or Sell Opportunity • Sep 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.4% to NT$786. The fair value is estimated to be NT$990, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 33%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 67% in the next 2 years. Reported Earnings • Aug 31
Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2024 results: EPS: NT$7.11 (up from NT$5.44 in 2Q 2023). Revenue: NT$3.91b (up 22% from 2Q 2023). Net income: NT$568.7m (up 33% from 2Q 2023). Profit margin: 14% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 3 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 33% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Announcement • Aug 28
Parade Technologies, Ltd. Introduces the TC1312V Device Parade Technologies, Ltd. introduced the TC1312V device, its first fully integrated AEC-Q100 qualified touch with Tcon embedded drivers targeting automotive cockpit displays. The TC1312V combines Parade’s broad portfolio of patented touchscreen technology and proven in-cell, display processing and high-speed signal technology, to provide the lowest EMI and lowest latency touch experience for automotive displays. The TC1312V leverages Parade’s TrueTouch™ patented technology portfolio and design experience gained from shipping over 1 billion touch devices. It provides superior EMI suppression, low power, low latency and flawless touch experience across the temperature extremes of the automotive cabin. The TC1312V also provides accurate touch response for a wide range of finger sizes and gloved touches across various materials and thicknesses. Using Active Shielding technology, TC1312V can deliver best-in-class water rejection and wet finger tracking, perfect for reliable touch with surface condensation or even stepping in from the rain. In addition, the TC1312V offers the industry’s only true VRR (Variable Refresh Rate) solution for automotive displays. Touch refresh rate is fully independent from the display refresh rate, giving automotive system designers more options to reduce display power, while keeping the touchscreen highly responsive to user inputs. Multiple TC1312V chips can be cascaded together to support 35” displays with a maximum display resolution of 7680*1260. On-board circuitry supports single-chip TPMUX on glass to offer flexibility in providing excellent touch performance for displays up to 15.6”. The TC1312V paired with Parade’s PS8627V bridge provides a complete display module solution that addresses the protocol conversion (DP/eDP to LVDS), functional safety and display needs of automotive system designs. The TC1312V chip-on-glass (COG) device is compatible with the most common footprint adopted by automotive panel makers. This allows rapid adoption and verification, enabling its benefits to be made quickly available to automotive OEMs. Availability: The TC1312V is sampling now. Announcement • Aug 21
Parade Announces Ps8353 DP 2.1A 20Gbps Linear Redriver Parade Technologies, Ltd. announced the availability of the PS8353 DP 2.1a 20Gbps linear redriver, facilitating DP 2.1a reversible or bidirectional active cables and DP/eDP signal conditioning for notebook, desktop PC and tablet designs. PS8353 supports DP 2.1a/eDP up to 4 lanes and UHBR20 20Gbps link rate. It features low power consumption and power management including Modern Standby (approx. 0.5mW) and DP 2.1a Advanced Link Power Management (ALPM). Its low power design minimizes power use in DP 2.1a active cables and greatly extends the battery life of mobile devices. It comes in a very small package, ideal for space constrained designs. PS8353 can greatly extend the cable length for DP 2.1a beyond the typical 1.2m /3.9ft limit for a passive cable, without degrading the full performance. A 2m or longer cable is commonly used to connect a monitor to the desktop system. Parade proprietary signal and orientation detection enables reversible DP active cable and bidirectional system I/O implementations. Upcoming Dividend • Aug 15
Upcoming dividend of NT$7.88 per share Eligible shareholders must have bought the stock before 22 August 2024. Payment date: 20 September 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.1%). Reported Earnings • Aug 08
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: NT$7.11 (up from NT$5.44 in 2Q 2023). Revenue: NT$3.91b (up 22% from 2Q 2023). Net income: NT$568.7m (up 33% from 2Q 2023). Profit margin: 14% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) missed analyst estimates by 1.9%. Revenue is forecast to grow 15% p.a. on average during the next 3 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 33% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Announcement • Aug 07
Parade Technologies, Ltd. Provides Earnings Guidance for the Third Quarter of Fiscal 2024 Parade Technologies, Ltd. provided earnings guidance for the third quarter of fiscal 2024. For the quarter, the company expects revenue of USD 130 million - USD 144 million. Announcement • Aug 06
Parade Technologies, Ltd. Announces PS8833 USB4/TBT4 Retimer Ships in AI PCs with AMD Ryzen™ AI 300 Series Processors Parade Technologies, Ltd. announces PS8833 USB4/TBT4 retimer shipping in AI PCs powered by AMD Ryzen AI 300 Series processors, which feature the new “Zen 5” high performance CPU cores and integrated AI engine for enhanced AI performance. USB4 is becoming ubiquitous on notebook and desktop PCs. The PS8833 USB4/TBT4 retimer is optimized for AMD’s new AI enhanced processor platform. It also allows OEMs to easily upgrade existing platforms from the PS8830 USB3/TBT4 retimer to extend product longevity. The PS8833 is compliant with USB-IF USB4 specification up to Gen 3 or 40Gbps (2x 20Gbps) and Thunderbolt 4 featuring TBT 3.0 up to 41.25Gbps (2x 20.625Gbps). USB4 tunneling of DP 1.4a and USB 3.2, and DP 2.1 alt mode up to UHBR20 are supported. PS8833 features low power consumption in USB4 operation and low power states, greatly extending battery power operations. Customer implementations of AMD Ryzen AI 300 Series processor platform may also include Parade PS8419/PS8219/PS8210 HDMI 2.1 pin compatible retimer/redrivers for enhanced HDMI connectivity, and PS8811 USB3.2 Gen 2 retimer for USB-A connectivity, benefiting from the proven performance and industry leading compatibility.
Availability: PS8833 is in production in two packages: 6.0x6.0mm 105-ball BGA package and 4.7x8.0mm 62-pin QFN package. PS8419A/PS8219/PS8210 are in production in a 46-pin 4.5x6.5mm QFN package. PS8811 is in production in a 36-pin 4.2x4.2mm QFN package. Buy Or Sell Opportunity • Aug 02
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.9% to NT$738. The fair value is estimated to be NT$957, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 73% in the next 2 years. Announcement • Aug 01
Parade Technologies, Ltd. Introduces PS8778 USB4 / TBT4 Linear Redriver Parade Technologies, Ltd. announced the availability of the PS8778 USB4 Gen 3 x2 /TBT4 /DP 2.1 Alt Mode linear redriver for NB/PC, mobile workstation and active cable solutions. The PS8778 supports up to USB4 Gen 3 x2 or 2x 20Gbps, TBT4 2x 20.625Gbps, and DP 2.1 UHBR20 Alt Mode. It implements USB4, USB 3.2 and DP 2.1a power management including Modern Standby (<1mW) and DP 2.1a Advanced Link Power Management (ALPM). The low power design greatly extends the battery life of mobile devices as well as minimizing power use in USB4 active cables. PS8778 comes in a very small package, ideal for space constrained designs. PS8778 extends the overall system channel length by providing additional loss compensation when placed between the SoC (USB4 router) and USB4 retimer such as the PS8833, in a cascade configuration. PS8778 also enables USB4 cables much longer than the 0.8 meter or 2.6 feet limit for a USB4 Gen 3 passive cable, without degrading the performance. Availability: The PS8778 is sampling. It comes in a 2.8mm x 4.4mm 28-pin QFN Halogen free RoHS package. Announcement • Jul 18
Parade Technologies, Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Parade Technologies, Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Declared Dividend • Apr 26
Dividend reduced to NT$7.77 Dividend of NT$7.77 is 13% lower than last year. Ex-date: 22nd August 2024 Payment date: 20th September 2024 Dividend yield will be 1.8%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 102% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Apr 25
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$18.3b to NT$17.3b. EPS estimate also fell from NT$45.77 per share to NT$36.37 per share. Net income forecast to grow 36% next year vs 27% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$1,156 to NT$969. Share price fell 14% to NT$723 over the past week. Reported Earnings • Apr 25
First quarter 2024 earnings: EPS misses analyst expectations First quarter 2024 results: EPS: NT$7.21 (up from NT$4.51 in 1Q 2023). Revenue: NT$3.81b (up 26% from 1Q 2023). Net income: NT$572.7m (up 62% from 1Q 2023). Profit margin: 15% (up from 12% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.9%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Apr 24
Parade Technologies, Ltd. Provides Earnings Guidance for the Second Quarter of Fiscal 2024 Parade Technologies, Ltd. provided earnings guidance for the second quarter of fiscal 2024. For the second quarter, the company expected revenue to be USD 110.0 ~ USD 122.0 Million. Gross Margin to be 42% ~ 46%. Announcement • Apr 04
Parade Technologies, Ltd. to Report Q1, 2024 Results on Apr 24, 2024 Parade Technologies, Ltd. announced that they will report Q1, 2024 results on Apr 24, 2024 Buy Or Sell Opportunity • Mar 18
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to NT$1,015. The fair value is estimated to be NT$1,333, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 17%. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 122% in the next 2 years. Announcement • Mar 06
Parade Technologies, Ltd., Annual General Meeting, Jun 12, 2024 Parade Technologies, Ltd., Annual General Meeting, Jun 12, 2024. Location: 7F., No. 236, Sec. 4, Xinyi Rd, Xinyi District Taipei City Taiwan Agenda: To consider and approve the 2023 business report; to consider and approve the report by audit committee; to consider and approve the allocation of cash bonuses and director remuneration; to consider and approve the payment of cash dividend; and to consider and approve any other matters. Upcoming Dividend • Feb 29
Upcoming dividend of NT$4.89 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 29 March 2024. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (2.7%). Buy Or Sell Opportunity • Feb 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.4% to NT$1,060. The fair value is estimated to be NT$1,351, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 17%. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 122% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$1,120, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 22x in the Semiconductor industry in Taiwan. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,352 per share. Announcement • Feb 22
Parade Technologies, Ltd. Announces Adjustment of the Rate of Cash Dividend of First Half of 2023 Parade Technologies, Ltd. announced the Board's approval of the adjustment of the rate of cash dividend. Type and monetary amount of original dividend distribution: Cash dividends TWD 390,871,071 (TWD 4.82 per share). Type and monetary amount of dividend distribution after the change: Cash dividends TWD 390,871,071 (TWD 4.88981221 per share). Reason for the change: The cash dividend rate of 1st half of 2023 profits distribution plan is changed due to the change of total issued and outstanding shares of the Company. The Chairman of the Board of Directors of the Company is authorized to adjust the ultimate cash dividend per share based on the total amount of profits resolved to be distributed in Board Meeting on November 1, 2023. Ex-dividend record date is March 13, 2024. Price Target Changed • Feb 13
Price target increased by 7.1% to NT$1,238 Up from NT$1,156, the current price target is an average from 14 analysts. New target price is 7.2% above last closing price of NT$1,155. Stock is up 30% over the past year. The company is forecast to post earnings per share of NT$44.14 for next year compared to NT$25.73 last year. Reported Earnings • Feb 08
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: NT$25.73 (down from NT$61.35 in FY 2022). Revenue: NT$13.8b (down 31% from FY 2022). Net income: NT$2.03b (down 59% from FY 2022). Profit margin: 15% (down from 24% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 17% 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. Announcement • Feb 07
Parade Technologies, Ltd. Provides Earnings Guidance for the First Quarter of Fiscal 2024 Parade Technologies, Ltd. provided earnings guidance for the first quarter of fiscal 2024. For the quarter, the company expected revenue to be USD 114.0 million to USD 126.0 million. Buy Or Sell Opportunity • Jan 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.4% to NT$1,055. The fair value is estimated to be NT$1,321, 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 declined by 5.9%. Revenue is forecast to grow by 57% in 2 years. Earnings are forecast to grow by 126% in the next 2 years. Announcement • Jan 13
Parade Technologies, Ltd. to Report Q4, 2023 Results on Feb 07, 2024 Parade Technologies, Ltd. announced that they will report Q4, 2023 results on Feb 07, 2024 
