Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$65.10, the stock trades at a trailing P/E ratio of 19.3x. Average forward P/E is 32x in the Semiconductor industry in Taiwan. Total returns to shareholders of 16% over the past three years. Upcoming Dividend • Jun 23
Upcoming dividend of NT$1.96 per share Eligible shareholders must have bought the stock before 30 June 2026. Payment date: 27 July 2026. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (0.9%). Declared Dividend • Jun 04
Dividend increased to NT$2.00 Dividend of NT$2.00 is 33% higher than last year. Ex-date: 30th June 2026 Payment date: 27th July 2026 Dividend yield will be 2.8%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but not covered by cash flows (270% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 37% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.1% EPS decline seen over the last 5 years. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$75.10, the stock trades at a trailing P/E ratio of 26.9x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 72% over the past three years. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (448% cash payout ratio). Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$3.02 (vs NT$1.57 in FY 2024) Full year 2025 results: EPS: NT$3.02 (up from NT$1.57 in FY 2024). Revenue: NT$3.57b (up 15% from FY 2024). Net income: NT$550.9m (up 100% from FY 2024). Profit margin: 15% (up from 8.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Mar 12
Weltrend Semiconductor, Inc., Annual General Meeting, May 29, 2026 Weltrend Semiconductor, Inc., Annual General Meeting, May 29, 2026, at 09:00 Taipei Standard Time. Location: 3 floor no,22, kung yeh tung 9th rd., hsinchu science park, hsinchu county Taiwan Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$50.20, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 34x in the Semiconductor industry in Taiwan. Total returns to shareholders of 8.7% over the past three years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$56.80, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 33x in the Semiconductor industry in Taiwan. Total returns to shareholders of 28% over the past three years. New Risk • Nov 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 48% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 23% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Nov 09
Third quarter 2025 earnings released: EPS: NT$1.14 (vs NT$0.084 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.14 (up from NT$0.084 in 3Q 2024). Revenue: NT$919.3m (up 8.5% from 3Q 2024). Net income: NT$205.6m (up NT$190.8m from 3Q 2024). Profit margin: 22% (up from 1.7% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$60.70, the stock trades at a trailing P/E ratio of 71.4x. Average trailing P/E is 32x in the Semiconductor industry in Taiwan. Total returns to shareholders of 35% over the past three years. New Risk • Aug 10
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.4% Last year net profit margin: 9.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 176% Paying a dividend despite having no free cash flows. Earnings have declined by 21% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (4.4% net profit margin). Reported Earnings • Aug 10
Second quarter 2025 earnings released: EPS: NT$0.15 (vs NT$0.51 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.15 (down from NT$0.51 in 2Q 2024). Revenue: NT$928.7m (up 25% from 2Q 2024). Net income: NT$25.9m (down 71% from 2Q 2024). Profit margin: 2.8% (down from 12% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 19
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 26 June 2025. Payment date: 25 July 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.3%). Declared Dividend • May 31
Dividend increased to NT$1.50 Dividend of NT$1.50 is 24% higher than last year. Ex-date: 26th June 2025 Payment date: 25th July 2025 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (124% earnings payout ratio) nor is it covered by cash flows (132% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 37% to bring the payout ratio under control, which is more than the 20% EPS growth achieved over the last 5 years. Announcement • May 30
Weltrend Semiconductor, Inc. Approves Cash Dividend, Payable on July 25, 2025 Weltrend Semiconductor, Inc. approved cash dividend of TWD 1.5 per share to shareholders for a total of TWD 262,469,391. Ex-rights (ex-dividend) trading date: June 26, 2025. Ex-rights (ex-dividend) record date: July 4, 2025. .Payment date of common stock cash dividend distribution: July 25, 2025. Reported Earnings • May 13
First quarter 2025 earnings released: EPS: NT$0.14 (vs NT$0.49 in 1Q 2024) First quarter 2025 results: EPS: NT$0.14 (down from NT$0.49 in 1Q 2024). Revenue: NT$795.3m (up 20% from 1Q 2024). Net income: NT$24.3m (down 72% from 1Q 2024). Profit margin: 3.1% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • May 01
Weltrend Semiconductor, Inc. to Report Q1, 2025 Results on May 08, 2025 Weltrend Semiconductor, Inc. announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$41.60, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total loss to shareholders of 41% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$1.57 (vs NT$1.18 in FY 2023) Full year 2024 results: EPS: NT$1.57 (up from NT$1.18 in FY 2023). Revenue: NT$3.09b (up 7.2% from FY 2023). Net income: NT$275.6m (up 32% from FY 2023). Profit margin: 8.9% (up from 7.3% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Mar 10
Weltrend Semiconductor, Inc., Annual General Meeting, May 29, 2025 Weltrend Semiconductor, Inc., Annual General Meeting, May 29, 2025, at 09:00 Taipei Standard Time. Location: 3 floor no,22, kung yeh tung 9th rd., hsinchu science park, hsinchu county Taiwan Buy Or Sell Opportunity • Mar 03
Now 21% undervalued Over the last 90 days, the stock has risen 4.8% to NT$54.80. The fair value is estimated to be NT$69.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Earnings per share has declined by 54%. Announcement • Feb 28
Weltrend Semiconductor, Inc. to Report Fiscal Year 2024 Results on Mar 07, 2025 Weltrend Semiconductor, Inc. announced that they will report fiscal year 2024 results on Mar 07, 2025 New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. 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 (7.7% average weekly change). Buy Or Sell Opportunity • Dec 12
Now 21% undervalued Over the last 90 days, the stock has risen 8.4% to NT$56.70. The fair value is estimated to be NT$71.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Earnings per share has declined by 54%. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$63.40, the stock trades at a trailing P/E ratio of 52.5x. Average trailing P/E is 31x in the Semiconductor industry in Taiwan. Total loss to shareholders of 23% over the past three years. Announcement • Oct 30
Weltrend Semiconductor, Inc. to Report Q3, 2024 Results on Nov 06, 2024 Weltrend Semiconductor, Inc. announced that they will report Q3, 2024 results on Nov 06, 2024 Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$63.10, the stock trades at a trailing P/E ratio of 39.7x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total loss to shareholders of 23% over the past three years. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: NT$0.51 (vs NT$0.40 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.51 (up from NT$0.40 in 2Q 2023). Revenue: NT$745.9m (up 5.2% from 2Q 2023). Net income: NT$90.0m (up 27% from 2Q 2023). Profit margin: 12% (up from 10.0% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 56% 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. Announcement • Jul 31
Weltrend Semiconductor, Inc. to Report Q2, 2024 Results on Aug 07, 2024 Weltrend Semiconductor, Inc. announced that they will report Q2, 2024 results on Aug 07, 2024 Upcoming Dividend • Jun 20
Upcoming dividend of NT$1.21 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 26 July 2024. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (2.0%). Declared Dividend • May 31
Dividend of NT$1.20 announced Dividend of NT$1.20 is the same as last year. Ex-date: 27th June 2024 Payment date: 26th July 2024 Dividend yield will be 1.9%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (82% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 4.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 30
Weltrend Semiconductor, Inc. Announces Cash Dividend, Payable on July 26, 2024 Weltrend Semiconductor, Inc. announced cash dividend TWD 1.2 per common share for a total of TWD 212,527,913. Ex-rights (ex-dividend) trading date is June 27, 2024. Ex-rights (ex-dividend) record date is July 5, 2024. Payment date of common stock cash dividend distribution is July 26, 2024. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: NT$0.49 (vs NT$0.21 in 1Q 2023) First quarter 2024 results: EPS: NT$0.49 (up from NT$0.21 in 1Q 2023). Revenue: NT$665.0m (up 19% from 1Q 2023). Net income: NT$87.1m (up 130% from 1Q 2023). Profit margin: 13% (up from 6.7% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 03
Weltrend Semiconductor, Inc. to Report Q1, 2024 Results on May 08, 2024 Weltrend Semiconductor, Inc. announced that they will report Q1, 2024 results on May 08, 2024 Announcement • Apr 25
Transphorm and Weltrend Semiconductor Release New Integrated Gan System-In-Packages Transphorm, Inc. and Weltrend Semiconductor Inc. announced availability of two new GaN System-in-Packages (SiPs). When combined with Weltrend’s flagship GaN SiP announced last year, the new devices establish the first SiP product family based on Transphorm’s SuperGaN® platform. The new SiPs—WT7162RHUG24B and WT7162RHUG24C—integrate Weltrend’s high frequency multi-mode (QR/Valley Switching) Flyback PWM controller with Transphorm's 150 mO and 480 mO SuperGaN FETs respectively. Like their 240 mO predecessor(WT7162RHUG24A), the devices pair with USB PD or programmable power adapter controllers to provide a total adapter solution. Notably, they also offer several innovative features including the UHV valley tracking charge mode, adaptive OCP compensation, and adaptive green mode control among others that allow customers to design high quality power supplies faster and with fewer components using the simplest design approach. End product manufacturers seek ways to develop new adapters with a reduced bill-of-materials (BOM) that offer versatility, fast charging, and higher power outputs. Additionally, in many cases they seek to deliver “one-size-fits-all” chargers with multiple ports and/or multiple types of connections. All of this in smaller, lighter weight form factor. Some key advantages of Transphorm’s normally-off d-mode SuperGaN platform include best-in-class robustness (+/- 20 V gate margin with a 4 V noise immunity) and reliability (< 0.05 FIT) with the ability to increase power density by 50% over silicon. Weltrend’s elegant SiP designs harness those advantages along with its own innovative technologies to create a near plug-and-play solution that speeds design while reducing form factor size. Weltrend’s SuperGaN SiP family is optimized for use in high-performance, low-profile USB-C power adapters for mobile/IoT devices such as smartphones, tablets, laptops, headphones, drones, speakers, cameras, and more. New Risk • Mar 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 95% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: NT$1.18 (vs NT$0.83 in FY 2022) Full year 2023 results: EPS: NT$1.18 (up from NT$0.83 in FY 2022). Revenue: NT$2.89b (flat on FY 2022). Net income: NT$209.2m (up 43% from FY 2022). Profit margin: 7.3% (up from 5.1% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Feb 29
Weltrend Semiconductor, Inc. Proposes Cash Dividends for the Year Ended December 31, 2023 Weltrend Semiconductor, Inc. proposed cash dividends to shareholders of TWD 1.2 per share for the year ended December 31, 2023. Total amount of cash distributed to shareholders TWD 212,527,913. Announcement • Feb 27
Weltrend Semiconductor, Inc., Annual General Meeting, May 29, 2024 Weltrend Semiconductor, Inc., Annual General Meeting, May 29, 2024. Location: 3F., No.22, Industry E. 9th Rd., Hsinchu Science Park, Hsin-Chu 300, Taiwan Taiwan Taiwan Agenda: To consider 2023 Business Report; to Audit Report from the Audit Committee; to Report on 2023 Employees and Directors¡¦ Bonus and Compensation Distribution ; to Report on the Company¡¦s 1st Domestic Unsecured Convertible Corporate Bonds; to Adoption of the 2023 Business Report and Financial Statements; to Adoption of the Proposal for Distribution of 2023 Profits; and to consider other matters if any. Announcement • Dec 14
Transphorm and Weltrend Semiconductor’s New GaN System-In-Package Delivers Competitive Advantage by Supporting Multiple Power Levels Transphorm, Inc. and Weltrend Semiconductor Inc. announced availability of a 100 watt USB-C PD Power Adapter Reference Design. The board uses the companies’ SuperGaN® System-in-Package (SiP)—the WT7162RHUG24A—to achieve 92.7% efficiency in a Quasi-Resonant Flyback (QRF) topology. This is Weltrend’s second USB-C PD adapter board using the WT7162RHUG24A in a QRF topology. The first is a 65-watt board released earlier this year. The fact that both boards deploy the same SuperGaN SiP is beneficial to customers seeking to achieve economies of scale and a lower cost implementation for 100-watt designs compared to the competition. It demonstrates that the 65-watt-class SuperGaN SiP also meets the performance and thermal requirements of 100-watt designs. Weltrend’s universal 100-watt power adapter board is designed to the USB PD 3.0 + PPS standards. Its use is intended to speed development of various high performance, low-profile power adapters charging smartphones, tablets, laptops, and other smart devices. Additional key specifications follow: GaN Device - WT7162RHUG24A SuperGaN SiP. Topology - Boundary Mode PFC + Flyback Quasi-Resonant Mode/Valley-Switching Multi-mode Operation. Full Load Efficiency - 91.2% @ 90 VAC/Full Load. Overall Peak Efficiency - 92.7% @ 264VAC/Full Load. Power Density - 15.8 W/in (w/o housing). Output Voltage Operation - USB-C PD 3.0, PPS 3.3 V - 21 V. No Load Power Loss - < 50 mW @ 264 VAC. Output Voltage and Current - PPS: 3.3 V – 21 V/5 A 5 V/3 A; 9 V/3 A; 12 V/3 A; 15 V/3 A; 20 V/5 A. EMI Compliant - Conducted and Radiated. Dimensions - 69mm x 63mm x 23.8mm. The WT7162RHUG24A is a true integrated circuit designed for use in 45- to 100-watt USB-C PD power adapters. It integrates Weltrend’s WT7162RHSG08 quasi-resonant/multi-mode flyback PWM controller with Transphorm’s 240 milliohm, 650-volt SuperGaN® FET. The surface mount device is available in a 24-pin 8x8 QFN package and offers a peak efficiency of 92.7%. Key benefits include increased power density with better thermal management for long-term reliability and reduction of BOM costs. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.46 (vs NT$0.15 loss in 3Q 2022) Third quarter 2023 results: EPS: NT$0.46 (up from NT$0.15 loss in 3Q 2022). Revenue: NT$821.7m (up 36% from 3Q 2022). Net income: NT$81.4m (up NT$107.7m from 3Q 2022). Profit margin: 9.9% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.46 (vs NT$0.15 loss in 3Q 2022) Third quarter 2023 results: EPS: NT$0.46 (up from NT$0.15 loss in 3Q 2022). Revenue: NT$821.7m (up 36% from 3Q 2022). Net income: NT$81.4m (up NT$107.7m from 3Q 2022). Profit margin: 9.9% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Nov 10
Weltrend Semiconductor, Inc. Announces CEO Changes Weltrend Semiconductor, Inc. announced executive changes. Name, title, and resume of the previous position holder: Sam Lin, Chairman & CEO, Weltrend Semiconductor, Inc.; Name, title, and resume of the new position holder: Tony Lin, President, Weltrend Semiconductor, Inc.; Effective date is November 8, 2023. Reason for the change: Position adjustment. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: NT$0.40 (vs NT$0.18 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.40 (up from NT$0.18 in 2Q 2022). Revenue: NT$708.9m (up 6.8% from 2Q 2022). Net income: NT$70.7m (up 120% from 2Q 2022). Profit margin: 10.0% (up from 4.8% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 13
Upcoming dividend of NT$1.20 per share at 2.0% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 21 July 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.2%). Announcement • Jun 03
Weltrend Semiconductor, Inc. Approves Cash Dividend for 2022, Payable on July 21, 2023 Weltrend Semiconductor, Inc. at the Annual General Shareholder's Meeting held on June 02, 2023 approved the proposal for distribution of 2022 profits with a cash dividend of TWD 1.2 per share to shareholders. Cash dividend for a total of TWD 212,398,754. Ex-rights (ex-dividend) trading date is June 20, 2023. Ex-rights (ex-dividend) record date is June 30, 2023; Payment date of cash dividend distribution is July 21, 2023. Reported Earnings • May 14
First quarter 2023 earnings released: EPS: NT$0.21 (vs NT$0.74 in 1Q 2022) First quarter 2023 results: EPS: NT$0.21 (down from NT$0.74 in 1Q 2022). Revenue: NT$560.9m (down 41% from 1Q 2022). Net income: NT$37.8m (down 71% from 1Q 2022). Profit margin: 6.7% (down from 14% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
Weltrend Semiconductor, Inc. Appoints Cindy Guo as Corporate Governance Officer Weltrend Semiconductor, Inc. appointed Cindy Guo, CFO of the company as Corporate Governance Officer. Effective date: May 8, 2023. Approved by the Board of Directors on May 8, 2023. Reported Earnings • Mar 06
Full year 2022 earnings released: EPS: NT$0.83 (vs NT$4.25 in FY 2021) Full year 2022 results: EPS: NT$0.83 (down from NT$4.25 in FY 2021). Revenue: NT$2.89b (down 20% from FY 2021). Net income: NT$146.8m (down 81% from FY 2021). Profit margin: 5.1% (down from 21% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Gerald Guo was the last independent director to join the board, commencing their role in 2016. 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 10
Third quarter 2022 earnings released: NT$0.15 loss per share (vs NT$1.01 profit in 3Q 2021) Third quarter 2022 results: NT$0.15 loss per share (down from NT$1.01 profit in 3Q 2021). Revenue: NT$606.4m (down 38% from 3Q 2021). Net loss: NT$26.3m (down 115% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$48.00, the stock trades at a trailing P/E ratio of 16.1x. Average forward P/E is 11x in the Semiconductor industry in Taiwan. Total returns to shareholders of 102% over the past three years. Upcoming Dividend • Aug 25
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 30 September 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.5%). Higher than average of industry peers (3.6%). Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.18 (vs NT$1.14 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.18 (down from NT$1.14 in 2Q 2021). Revenue: NT$663.7m (down 27% from 2Q 2021). Net income: NT$32.2m (down 84% from 2Q 2021). Profit margin: 4.8% (down from 22% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$56.10, the stock trades at a trailing P/E ratio of 14.2x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 135% over the past three years. Reported Earnings • May 08
First quarter 2022 earnings released: EPS: NT$0.74 (vs NT$1.05 in 1Q 2021) First quarter 2022 results: EPS: NT$0.74 (down from NT$1.05 in 1Q 2021). Revenue: NT$947.3m (up 26% from 1Q 2021). Net income: NT$131.0m (down 30% from 1Q 2021). Profit margin: 14% (down from 25% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Gerald Guo was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 07
Weltrend Semiconductor, Inc., Annual General Meeting, Jun 23, 2022 Weltrend Semiconductor, Inc., Annual General Meeting, Jun 23, 2022. Reported Earnings • Mar 06
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$4.25 (up from NT$1.94 in FY 2020). Revenue: NT$3.60b (up 38% from FY 2020). Net income: NT$750.9m (up 120% from FY 2020). Profit margin: 21% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Announcement • Mar 06
Weltrend Proposes Dividend Distribution Weltrend Semiconductor, Inc. proposed cash dividends to shareholders of TWD 3.0 per share or TWD 529,529,883. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$1.01 (vs NT$0.85 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: NT$974.8m (up 35% from 3Q 2020). Net income: NT$178.7m (up 20% from 3Q 2020). Profit margin: 18% (down from 21% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 55% per year whereas the company’s share price has increased by 53% per year. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 17% share price gain to NT$85.30, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 213% over the past three years. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$1.14 (vs NT$0.87 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: NT$903.6m (up 36% from 2Q 2020). Net income: NT$201.8m (up 31% from 2Q 2020). Profit margin: 22% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 37% per year whereas the company’s share price has increased by 32% per year. Upcoming Dividend • Jul 16
Upcoming dividend of NT$1.60 per share Eligible shareholders must have bought the stock before 23 July 2021. Payment date: 20 August 2021. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (2.1%). Valuation Update With 7 Day Price Move • May 29
Investor sentiment improved over the past week After last week's 16% share price gain to NT$69.20, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 147% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$57.90, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 116% over the past three years. Reported Earnings • May 09
First quarter 2021 earnings released: EPS NT$1.05 (vs NT$0.73 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$752.6m (up 59% from 1Q 2020). Net income: NT$185.7m (up NT$315.9m from 1Q 2020). Profit margin: 25% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 17% share price gain to NT$64.70, the stock trades at a trailing P/E ratio of 33.3x. Average trailing P/E is 28x in the Semiconductor industry in Taiwan. Total returns to shareholders of 127% over the past three years. Announcement • Mar 10
Weltrend Semiconductor, Inc., Annual General Meeting, Jun 03, 2021 Weltrend Semiconductor, Inc., Annual General Meeting, Jun 03, 2021. Location: 3F., No.22, Industry E. 9th Rd., Hsinchu Science Park Hsin Chu Taiwan Agenda: To consider 2020 business report; to supervisors review report on the 2020 financial statements; to report on 2020 employees and directors bonus and compensation distribution; to amendments to code of ethical conduct; to adoption of the 2020 business report and financial statements; to adoption of the proposal for distribution of 2020 profits; to amendments to articles of incorporation; and to consider other matter. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS NT$1.94 (vs NT$1.84 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: NT$2.62b (up 13% from FY 2019). Net income: NT$340.9m (up 4.8% from FY 2019). Profit margin: 13% (down from 14% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 15
New 90-day high: NT$54.10 The company is up 69% from its price of NT$32.05 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 33% over the same period. Announcement • Dec 30
Weltrend Semiconductor, Inc. Announces Mergers and Acquisitions Special Committee Weltrend Semiconductor, Inc. announced that it established a Mergers and Acquisitions Special Committee. Gerald Kuo and Wei-Kun Yeh were appointed as the directors. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improved over the past week After last week's 20% share price gain to NT$49.80, the stock is trading at a trailing P/E ratio of 34.4x, up from the previous P/E ratio of 28.7x. This compares to an average P/E of 25x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 63%. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improved over the past week After last week's 23% share price gain to NT$45.65, the stock is trading at a trailing P/E ratio of 31.5x, up from the previous P/E ratio of 25.6x. This compares to an average P/E of 25x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 46%. Valuation Update With 7 Day Price Move • Dec 09
Market bids up stock over the past week After last week's 16% share price gain to NT$40.05, the stock is trading at a trailing P/E ratio of 27.7x, up from the previous P/E ratio of 23.9x. This compares to an average P/E of 25x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 29%. Is New 90 Day High Low • Dec 02
New 90-day high: NT$34.60 The company is up 15% from its price of NT$30.20 on 03 September 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 16% over the same period.