Novatek Microelectronics Corp.

TWSE:3034 Stock Report

Market Cap: NT$299.4b

Novatek Microelectronics Valuation

Is 3034 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 3034 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3034 (NT$485) is trading below our estimate of fair value (NT$612.65)

Significantly Below Fair Value: 3034 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3034?

Key metric: As 3034 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3034. This is calculated by dividing 3034's market cap by their current earnings.
What is 3034's PE Ratio?
PE Ratio14.2x
EarningsNT$20.87b
Market CapNT$299.39b

Price to Earnings Ratio vs Peers

How does 3034's PE Ratio compare to its peers?

The above table shows the PE ratio for 3034 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average86.6x
5347 Vanguard International Semiconductor
23.4x2.7%NT$177.5b
3529 eMemory Technology
148.2x29.6%NT$255.3b
6415 Silergy
101.8x40.7%NT$155.5b
3653 Jentech Precision Industrial
72.9xn/aNT$205.1b
3034 Novatek Microelectronics
14.1x5.8%NT$295.1b

Price-To-Earnings vs Peers: 3034 is good value based on its Price-To-Earnings Ratio (14.1x) compared to the peer average (86.6x).

Price to Earnings Ratio vs Industry

How does 3034's PE Ratio compare vs other companies in the TW Semiconductor Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
4944 Crystalwise Technology
4xn/aUS$15.69m
No more companies available in this PE range
3034 14.2xIndustry Avg. 32.4xNo. of Companies30PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 3034 is good value based on its Price-To-Earnings Ratio (14.1x) compared to the TW Semiconductor industry average (32.4x).

Price to Earnings Ratio vs Fair Ratio

What is 3034's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

3034 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.2x
Fair PE Ratio22.6x

Price-To-Earnings vs Fair Ratio: 3034 is good value based on its Price-To-Earnings Ratio (14.1x) compared to the estimated Fair Price-To-Earnings Ratio (22.6x).

Analyst Price Targets

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

The above table shows the analyst 3034 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$485.00
NT$502.94
+3.7%
13.1%NT$600.00NT$376.00n/a18
Dec ’25NT$484.00
NT$502.94
+3.9%
13.1%NT$600.00NT$376.00n/a18
Nov ’25NT$501.00
NT$531.32
+6.1%
13.5%NT$666.00NT$400.00n/a19
Oct ’25NT$517.00
NT$536.21
+3.7%
12.9%NT$666.00NT$415.00n/a19
Sep ’25NT$540.00
NT$536.21
-0.7%
12.9%NT$666.00NT$415.00n/a19
Aug ’25NT$536.00
NT$607.68
+13.4%
15.9%NT$735.00NT$435.00n/a19
Jul ’25NT$620.00
NT$605.05
-2.4%
15.4%NT$735.00NT$435.00n/a19
Jun ’25NT$593.00
NT$610.32
+2.9%
15.5%NT$735.00NT$435.00n/a19
May ’25NT$618.00
NT$550.32
-11.0%
17.0%NT$670.00NT$340.00n/a19
Apr ’25NT$589.00
NT$540.74
-8.2%
16.9%NT$670.00NT$340.00n/a19
Mar ’25NT$599.00
NT$522.74
-12.7%
16.6%NT$670.00NT$340.00n/a19
Feb ’25NT$515.00
NT$514.89
-0.02%
14.6%NT$650.00NT$340.00n/a19
Jan ’25NT$517.00
NT$508.32
-1.7%
13.2%NT$600.00NT$340.00n/a19
Dec ’24NT$510.00
NT$501.58
-1.7%
12.9%NT$584.00NT$340.00NT$484.0019
Nov ’24NT$470.00
NT$446.46
-5.0%
10.0%NT$510.00NT$340.23NT$501.0018
Oct ’24NT$423.00
NT$452.71
+7.0%
8.3%NT$510.00NT$402.00NT$517.0017
Sep ’24NT$403.00
NT$456.58
+13.3%
9.1%NT$530.00NT$399.00NT$540.0019
Aug ’24NT$437.00
NT$473.11
+8.3%
8.6%NT$530.00NT$403.00NT$536.0019
Jul ’24NT$426.50
NT$474.68
+11.3%
8.8%NT$530.00NT$403.00NT$620.0019
Jun ’24NT$424.00
NT$476.00
+12.3%
8.7%NT$530.00NT$403.00NT$593.0019
May ’24NT$418.50
NT$434.17
+3.7%
17.0%NT$530.00NT$300.00NT$618.0018
Apr ’24NT$431.50
NT$412.50
-4.4%
14.7%NT$500.00NT$300.00NT$589.0018
Mar ’24NT$415.50
NT$397.83
-4.3%
14.8%NT$500.00NT$300.00NT$599.0018
Feb ’24NT$353.50
NT$311.11
-12.0%
25.9%NT$430.00NT$161.00NT$515.0018
Jan ’24NT$315.50
NT$285.67
-9.5%
23.8%NT$430.00NT$161.00NT$517.0018
Dec ’23NT$297.00
NT$272.94
-8.1%
22.1%NT$430.00NT$161.00NT$510.0018

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 16:55
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Novatek Microelectronics Corp. is covered by 42 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Wanping YehBarclays
Andrew LuBarclays
Eric ChenBNP Paribas Securities (Asia)