Upcoming Dividend • May 20
Upcoming dividend of NT$6.50 per share Eligible shareholders must have bought the stock before 27 May 2026. Payment date: 25 June 2026. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (1.1%). Reported Earnings • May 05
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: NT$3.00 (up from NT$2.05 in 1Q 2025). Revenue: NT$537.1m (up 3.4% from 1Q 2025). Net income: NT$197.2m (up 77% from 1Q 2025). Profit margin: 37% (up from 22% in 1Q 2025). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat. Reported Earnings • Mar 05
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: NT$6.81 (down from NT$8.86 in FY 2024). Revenue: NT$1.97b (down 7.0% from FY 2024). Net income: NT$365.2m (down 23% from FY 2024). Profit margin: 19% (down from 23% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) exceeded analyst estimates by 89%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 9% per year and the company’s share price has also fallen by 9% per year. Announcement • Mar 05
Zilltek Technology Corp., Annual General Meeting, May 27, 2026 Zilltek Technology Corp., Annual General Meeting, May 27, 2026. Location: 2 floor no,1, kung yeh tung 2nd rd., hsinchu science park, hsinchu city Taiwan Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$227, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 25x in the Semiconductor industry in Taiwan. Total loss to shareholders of 9.5% over the past three years. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: NT$3.42 (vs NT$1.51 in 3Q 2024) Third quarter 2025 results: EPS: NT$3.42 (up from NT$1.51 in 3Q 2024). Revenue: NT$476.5m (down 8.0% from 3Q 2024). Net income: NT$182.0m (up 124% from 3Q 2024). Profit margin: 38% (up from 16% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.3% 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 17% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 11
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: NT$1.63 loss per share (down from NT$2.43 profit in 2Q 2024). Revenue: NT$493.1m (down 15% from 2Q 2024). Net loss: NT$87.2m (down 167% from profit in 2Q 2024). Revenue missed analyst estimates by 25%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 23% 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. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$229, the stock trades at a trailing P/E ratio of 28x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 27% over the past three years. Upcoming Dividend • Jun 16
Upcoming dividend of NT$9.17 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 15 July 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.3%). New Risk • Jun 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 8.7% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 112% Cash payout ratio: 112% Minor Risk Share price has been volatile over the past 3 months (8.7% average weekly change). Announcement • Apr 19
Zilltek Technology Corp. to Report Q1, 2025 Results on Apr 28, 2025 Zilltek Technology Corp. announced that they will report Q1, 2025 results on Apr 28, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$215, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total loss to shareholders of 38% over the past three years. Reported Earnings • Mar 03
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: NT$8.86 (up from NT$6.95 in FY 2023). Revenue: NT$2.11b (up 15% from FY 2023). Net income: NT$476.7m (up 28% from FY 2023). Profit margin: 23% (up from 20% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) missed analyst estimates by 19%. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. New Risk • Dec 13
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 6.2% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 09
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: NT$1.51 (down from NT$2.97 in 3Q 2023). Revenue: NT$517.9m (up 1.2% from 3Q 2023). Net income: NT$81.1m (down 49% from 3Q 2023). Profit margin: 16% (down from 31% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) also missed analyst estimates by 37%. Revenue is forecast to grow 21% p.a. on average during the next 2 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 29% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Oct 30
Zilltek Technology Corp. to Report Q3, 2024 Results on Nov 07, 2024 Zilltek Technology Corp. announced that they will report Q3, 2024 results on Nov 07, 2024 Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$371, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 34% over the past three years. Price Target Changed • Aug 08
Price target decreased by 13% to NT$335 Down from NT$385, the current price target is an average from 2 analysts. New target price is 16% above last closing price of NT$290. Stock is down 16% over the past year. The company is forecast to post earnings per share of NT$10.37 for next year compared to NT$6.95 last year. Major Estimate Revision • Aug 08
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$2.50b to NT$2.25b. EPS estimate also fell from NT$11.83 per share to NT$10.37 per share. Net income forecast to grow 25% next year vs 33% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$385 to NT$335. Share price fell 15% to NT$290 over the past week. New Risk • Aug 02
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.7% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 28
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: NT$2.43 (up from NT$1.84 in 2Q 2023). Revenue: NT$581.5m (up 31% from 2Q 2023). Net income: NT$130.4m (up 32% from 2Q 2023). Profit margin: 22% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 30% 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 25% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Jul 27
Zilltek Technology Corp. Announces Committee Appointments Zilltek Technology Corp. announced new member appointment for Risk Management Committee and Sustainable Development Committee. Name of the new position holder: Sustainable Development Committee: Jing-Hong Chiou, Wei-Ling Chu. Risk Management Committee: Wei-Ling Chu. Resume of the new position holder: Jing-Hong Chiou: Chairman of Zilltek; Wei-Ling Chu: Independent Director of Zilltek. Effective date of the new member: July 26, 2024. Announcement • Jul 17
Zilltek Technology Corp. to Report Q2, 2024 Results on Jul 24, 2024 Zilltek Technology Corp. announced that they will report Q2, 2024 results on Jul 24, 2024 New Risk • Jun 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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: Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$459, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 46% over the past three years. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: NT$2.86 (vs NT$1.01 in 1Q 2023) First quarter 2024 results: EPS: NT$2.86 (up from NT$1.01 in 1Q 2023). Revenue: NT$498.7m (up 42% from 1Q 2023). Net income: NT$153.3m (up 184% from 1Q 2023). Profit margin: 31% (up from 15% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 29% 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 21% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • May 10
Upcoming dividend of NT$5.50 per share Eligible shareholders must have bought the stock before 15 May 2024. Payment date: 07 June 2024. Payout ratio is on the higher end at 79%, and the cash payout ratio is above 100%. Trailing yield: 1.5%. Lower than top quartile of Taiwanese dividend payers (4.5%). Lower than average of industry peers (2.4%). Announcement • May 01
Zilltek Technology Corp. to Report Q1, 2024 Results on May 07, 2024 Zilltek Technology Corp. announced that they will report Q1, 2024 results on May 07, 2024 Reported Earnings • Feb 23
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: NT$6.95 (down from NT$10.40 in FY 2022). Revenue: NT$1.84b (down 14% from FY 2022). Net income: NT$372.8m (down 28% from FY 2022). Profit margin: 20% (down from 24% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 28% p.a. on average during the next 2 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 15% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Feb 23
Zilltek Technology Corp. Approves Cash Dividend for the Period from July 1, 2023 to December 31, 2023 Zilltek Technology Corp. approved cash dividend of TWD 5.5 per share for the period from July 1, 2023 to December 31, 2023. Total amount of cash dividends to shareholders is TWD 295,423,343. Announcement • Feb 21
Zilltek Technology Corp., Annual General Meeting, May 15, 2024 Zilltek Technology Corp., Annual General Meeting, May 15, 2024. Location: HSP Convention Center ?V Rossini 4F., No. 1, Gongye E. 2nd Rd., East Dist., Hsinchu City 300 Hsin-Chu City Taiwan Agenda: To consider 2023 Business Report; to consider 2023 Audit Committee's Review Report; to report 2023 distributable compensation for employees and directors; to consider report 2023 earnings distribution of cash dividend; and to discuss other matters. New Risk • Feb 14
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 5.5% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$477, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 145% over the past three years. Major Estimate Revision • Dec 22
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$2.08b to NT$1.84b. EPS estimate fell from NT$10.86 to NT$7.90 per share. Net income forecast to grow 70% next year vs 20% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$215 to NT$360. Share price rose 9.4% to NT$444 over the past week. Reported Earnings • Nov 02
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: NT$2.97 (up from NT$2.59 in 3Q 2022). Revenue: NT$511.8m (up 10% from 3Q 2022). Net income: NT$159.2m (up 14% from 3Q 2022). Profit margin: 31% (up from 30% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Revenue is forecast to grow 40% 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 4% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Major Estimate Revision • Aug 19
Consensus revenue estimates fall by 30% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$2.45b to NT$1.71b. EPS estimate fell from NT$10.86 to NT$7.66 per share. Net income forecast to grow 70% next year vs 6.2% growth forecast for Semiconductor industry in Taiwan. Consensus price target of NT$215 unchanged from last update. Share price rose 3.4% to NT$352 over the past week. Reported Earnings • Aug 04
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: NT$1.84 (down from NT$3.31 in 2Q 2022). Revenue: NT$443.4m (down 33% from 2Q 2022). Net income: NT$98.6m (down 38% from 2Q 2022). Profit margin: 22% (down from 24% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 7.5%. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 03
Zilltek Technology Corp. Announces Establishment of Sustainability Committee Zilltek Technology Corp. announced the establishment of sustainability committee of the company. Name of the new position holder: Chiu-Hsiung Lin, Yu-Hsuan Lin, Sung-Tsan Chiang, Cheng-Wei Li, Jun-Hong Lin. Resume of the new position holder: Chiu-Hsiung Lin: Independent Director of Zilltek; Yu-Hsuan Lin: Independent Director of Zilltek; Sung-Tsan Chiang: Independent Director of Zilltek; Cheng-Wei Li: Representative of juristic person director and Vice President of Zilltek; Jun-Hong Lin: Financial officer and corporate governance officer of Zilltek. Effective date of the new member is August 2, 2023. The term of office of the first Sustainability Committee shall commence upon the resolution of the Board of Directors and shall be the same as the term of office of the current Board of Directors. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$390, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 123% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$291 per share. Upcoming Dividend • May 11
Upcoming dividend of NT$9.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 18 May 2023. Payment date: 14 June 2023. Payout ratio is on the higher end at 87% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.8%). In line with average of industry peers (3.5%). Price Target Changed • Apr 06
Price target increased by 10% to NT$215 Up from NT$195, the current price target is an average from 2 analysts. New target price is 29% below last closing price of NT$304. Stock is down 20% over the past year. The company is forecast to post earnings per share of NT$9.27 for next year compared to NT$10.40 last year. Major Estimate Revision • Feb 14
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2022 has deteriorated. 2022 revenue forecast decreased from NT$2.42b to NT$2.15b. EPS estimate fell from NT$12.71 to NT$11.46 per share. Net income forecast to shrink 18% next year vs 19% decline forecast for Semiconductor industry in Taiwan. Consensus price target of NT$203 unchanged from last update. Share price fell 3.1% to NT$279 over the past week. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$290, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 14x in the Semiconductor industry in Taiwan. Total returns to shareholders of 90% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$578 per share. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 19% share price gain to NT$252, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 53% over the past three years. Announcement • Nov 30
Zilltek Technology Corp. Announces Executive Changes Zilltek Technology Corp. announced elections for board of directors. Title and name of the previous position holder: Natural-person director, Yu-Min Jhuang; Institutional director,Xin Yu Investment Co. Ltd. (Representative: Cheng-Wei Li). Resume of the previous position holder: Yu-Min Jhuang: VP of Zilltek. Xin Yu Investment Co. Ltd. (Representative: Cheng-Wei Li): VP of Zilltek. Representatives elected as the director. Hsu-Ta Investment Corp. Representative: Wei-Ning Shen Hsu-Ta Investment Corp. Representative: Chun-Hung Chen; Resume of the new position holder: Hsu-Ta Investment Corp. Representative: Wei-Ning Shen: Investment Manager,MediaTek Capital Co. Hsu-Ta Investment Corp. Representative: Chun-Hung Chen: Vice President,Wireless Communication Business Department, MTK. Reason for the change: By-election for two directors. Effective date of the new appointment is November 29, 2022. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jiu-Xiong Lin was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 01
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: NT$2.59 (down from NT$4.38 in 3Q 2021). Revenue: NT$463.5m (down 38% from 3Q 2021). Net income: NT$139.4m (down 24% from 3Q 2021). Profit margin: 30% (up from 24% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) exceeded analyst estimates by 26%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Sep 26
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be NT$262, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 55%. Revenue is forecast to decline by 3.4% in 2 years. Earnings is forecast to decline by 4.1% in the next 2 years. Price Target Changed • Sep 15
Price target decreased to NT$339 Down from NT$386, the current price target is an average from 3 analysts. New target price is 49% above last closing price of NT$228. Stock is down 33% over the past year. The company is forecast to post earnings per share of NT$12.23 for next year compared to NT$15.06 last year. Major Estimate Revision • Sep 08
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$2.72b to NT$2.55b. EPS estimate also fell from NT$14.53 per share to NT$12.95 per share. Net income forecast to grow 1.3% next year vs 3.5% decline forecast for Semiconductor industry in Taiwan. Consensus price target broadly unchanged at NT$380. Share price fell 8.9% to NT$210 over the past week. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 16% share price gain to NT$265, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 140% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$233 per share. Reported Earnings • Aug 02
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: NT$3.31 (down from NT$4.03 in 2Q 2021). Revenue: NT$664.7m (down 8.2% from 2Q 2021). Net income: NT$159.8m (down 4.8% from 2Q 2021). Profit margin: 24% (in line with 2Q 2021). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 16%, compared to a 21% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 24% share price gain to NT$250, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 9x in the Semiconductor industry in Taiwan. Total returns to shareholders of 138% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$235 per share. Major Estimate Revision • Jul 14
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$17.46 to NT$15.59 per share. Revenue forecast steady at NT$2.92b. Net income forecast to grow 12% next year vs 12% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$427 to NT$390. Share price fell 10% to NT$201 over the past week. Buying Opportunity • Jul 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 51%. The fair value is estimated to be NT$251, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 59%. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 27% in the next 2 years. Price Target Changed • Jun 28
Price target decreased to NT$427 Down from NT$469, the current price target is an average from 4 analysts. New target price is 87% above last closing price of NT$229. Stock is down 39% over the past year. The company is forecast to post earnings per share of NT$17.46 for next year compared to NT$15.06 last year. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$241, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 170% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$331 per share. Buying Opportunity • Jun 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 37%. The fair value is estimated to be NT$332, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 59%. Revenue is forecast to grow by 37% in 2 years. Earnings is forecast to grow by 45% in the next 2 years. Upcoming Dividend • Jun 01
Upcoming dividend of NT$7.13 per share Eligible shareholders must have bought the stock before 08 June 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (6.0%). In line with average of industry peers (2.9%). Announcement • May 21
Zilltek Technology Corp. Announces Dividend, Payable on June 30, 2022 Zilltek Technology Corp. announced cash dividend of TWD 385,378,949, each common share is entitled to receive TWD 7.13330049, payable on June 30, 2022, record date of June 14, 2022 and Ex-dividend of June 8, 2022. Buying Opportunity • Apr 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be NT$435, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 59%. Revenue is forecast to grow by 37% in 2 years. Earnings is forecast to grow by 45% in the next 2 years. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: NT$4.25 (up from NT$3.08 in 1Q 2021). Revenue: NT$677.9m (up 9.4% from 1Q 2021). Net income: NT$179.4m (up 43% from 1Q 2021). Profit margin: 27% (up from 20% in 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.8%. Over the next year, revenue is forecast to grow 22%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 59% per year whereas the company’s share price has increased by 55% per year. Board Change • Apr 27
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. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jiu-Xiong Lin was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.7%. The fair value is estimated to be NT$478, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 59%. Revenue is forecast to grow by 43% in 2 years. Earnings is forecast to grow by 54% in the next 2 years. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$408, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 407% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$474 per share. Announcement • Feb 26
Zilltek Technology Corp. announced that it expects to receive TWD 3.3816 billion in funding from MediaTek Capital Co., Hsu-Ta Investment Corp. and another investor Zilltek Technology Corp. announced a private placement of 11,272,000 shares for TWD 300 per share for gross proceeds of TWD 3,381,600,000 on February 25, 2022. The transaction will include participation from new investors Hsu-Ta investment Corp. for 7,000,000 shares, MediaTek Capital Co. for 3,000,000 shares and WK Develop ASSOCIATES LTD. for 1,272,000 shares. The transaction is subject to shareholders approval of the company. Price Target Changed • Feb 16
Price target increased to NT$438 Up from NT$406, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$457. Stock is up 72% over the past year. The company is forecast to post earnings per share of NT$19.94 for next year compared to NT$15.06 last year. Announcement • Feb 15
Zilltek Technology Corp., Annual General Meeting, May 05, 2022 Zilltek Technology Corp., Annual General Meeting, May 05, 2022. Reported Earnings • Feb 14
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: NT$15.06 (up from NT$7.57 in FY 2020). Revenue: NT$2.74b (up 44% from FY 2020). Net income: NT$625.4m (up 103% from FY 2020). Profit margin: 23% (up from 16% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 22%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 22% share price gain to NT$374, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Semiconductor industry in Taiwan. Total returns to shareholders of 549% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$316 per share. Price Target Changed • Nov 08
Price target decreased to NT$406 Down from NT$448, the current price target is an average from 6 analysts. New target price is 37% above last closing price of NT$296. Stock is up 29% over the past year. The company is forecast to post earnings per share of NT$14.86 for next year compared to NT$7.57 last year. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS NT$4.38 (vs NT$2.03 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$750.2m (up 45% from 3Q 2020). Net income: NT$183.0m (up 122% from 3Q 2020). Profit margin: 24% (up from 16% 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 57% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$318, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Semiconductor industry in Taiwan. Total returns to shareholders of 295% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$326 per share. Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS NT$4.03 (vs NT$1.70 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$724.2m (up 63% from 2Q 2020). Net income: NT$167.8m (up 143% from 2Q 2020). Profit margin: 23% (up from 16% 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 54% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Aug 06
Price target increased to NT$406 Up from NT$378, the current price target is an average from 3 analysts. New target price is 14% above last closing price of NT$357. Stock is up 71% over the past year. Upcoming Dividend • Jul 09
Upcoming dividend of NT$4.99 per share Eligible shareholders must have bought the stock before 16 July 2021. Payment date: 10 August 2021. Trailing yield: 1.3%. 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 • May 18
Investor sentiment improved over the past week After last week's 26% share price gain to NT$337, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 361% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$354 per share. Major Estimate Revision • May 11
Consensus EPS estimates increase to NT$14.29 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from NT$2.64b to NT$2.79b. EPS estimate increased from NT$12.84 to NT$14.29 per share. Net income forecast to grow 63% next year vs 33% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$359 to NT$374. Share price was steady at NT$305 over the past week. Reported Earnings • May 06
First quarter 2021 earnings released: EPS NT$3.07 (vs NT$1.40 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$619.8m (up 69% from 1Q 2020). Net income: NT$125.3m (up 118% from 1Q 2020). Profit margin: 20% (up from 16% 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 51% per year whereas the company’s share price has increased by 50% per year. Announcement • Mar 16
Zilltek Technology Corp., Annual General Meeting, May 31, 2021 Zilltek Technology Corp., Annual General Meeting, May 31, 2021. Major Estimate Revision • Mar 02
Analysts increase EPS estimates to NT$12.48 The 2021 consensus revenue estimate increased from NT$2.43b to NT$2.67b. The earnings per share estimate also received an upgrade from NT$10.97 to NT$12.48 for the same period. Net income is expected to grow by 65% next year compared to 36% growth forecast for the Semiconductor industry in Taiwan. The consensus price target increased from NT$292 to NT$353. Share price is up 3.9% to NT$278 over the past week. Price Target Changed • Feb 27
Price target raised to NT$353 Up from NT$292, the current price target is an average from 6 analysts. The new target price is 27% above the current share price of NT$278. As of last close, the stock is up 76% over the past year. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.5%. Earnings per share (EPS) missed analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 36%, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Is New 90 Day High Low • Feb 26
New 90-day high: NT$279 The company is up 30% from its price of NT$214 on 27 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Semiconductor industry, which is also up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$175 per share. Reported Earnings • Feb 25
Full year 2020 earnings released: EPS NT$7.57 (vs NT$4.06 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.90b (up 36% from FY 2019). Net income: NT$308.6m (up 90% from FY 2019). Profit margin: 16% (up from 12% in FY 2019). The increase in margin was driven by higher revenue. Price Target Changed • Feb 03
Price target raised to NT$292 Up from NT$269, the current price target is an average from 5 analysts. The new target price is 13% above the current share price of NT$259. As of last close, the stock is up 68% over the past year. Is New 90 Day High Low • Jan 11
New 90-day high: NT$257 The company is up 5.0% from its price of NT$245 on 14 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$281 per share.