New Risk • Jun 23
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 9.6% 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 27% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.6% average weekly change). Upcoming Dividend • Jun 15
Upcoming dividend of NT$0.25 per share Eligible shareholders must have bought the stock before 22 June 2026. Payment date: 16 July 2026. Payout ratio is on the higher end at 97%, however this is supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (1.0%). Declared Dividend • May 30
Dividend increased to NT$0.25 Dividend of NT$0.25 is 47% higher than last year. Ex-date: 22nd June 2026 Payment date: 16th July 2026 Dividend yield will be 0.7%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio). However, it is well covered by cash flows (35% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 7.4% to bring the payout ratio under control. However, EPS has declined by 16% over the last 5 years so the company would need to reverse this trend. Reported Earnings • May 11
First quarter 2026 earnings released: EPS: NT$0.069 (vs NT$0.056 in 1Q 2025) First quarter 2026 results: EPS: NT$0.069 (up from NT$0.056 in 1Q 2025). Revenue: NT$47.2m (down 8.5% from 1Q 2025). Net income: NT$5.76m (up 25% from 1Q 2025). Profit margin: 12% (up from 9.0% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 55% 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. Announcement • Mar 09
Davicom Semiconductor, Inc., Annual General Meeting, May 28, 2026 Davicom Semiconductor, Inc., Annual General Meeting, May 28, 2026, at 09:00 Taipei Standard Time. Location: 3 floor no,6, li hsing 6th rd., east district hsinchu science park, hsinchu city Taiwan Reported Earnings • Mar 09
Full year 2025 earnings released: EPS: NT$0.25 (vs NT$0.17 in FY 2024) Full year 2025 results: EPS: NT$0.25 (up from NT$0.17 in FY 2024). Revenue: NT$187.8m (up 13% from FY 2024). Net income: NT$20.4m (up 42% from FY 2024). Profit margin: 11% (up from 8.7% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$0.15 (vs NT$0.006 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.15 (up from NT$0.006 in 3Q 2024). Revenue: NT$46.9m (up 7.3% from 3Q 2024). Net income: NT$12.4m (up NT$11.9m from 3Q 2024). Profit margin: 27% (up from 1.2% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 60% 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. New Risk • Aug 22
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: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.6% net profit margin). Market cap is less than US$100m (NT$2.09b market cap, or US$68.6m). Reported Earnings • Aug 09
Second quarter 2025 earnings released: NT$0.04 loss per share (vs NT$0.041 profit in 2Q 2024) Second quarter 2025 results: NT$0.04 loss per share (down from NT$0.041 profit in 2Q 2024). Revenue: NT$47.0m (up 12% from 2Q 2024). Net loss: NT$3.49m (down 203% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 60% 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. Board Change • Jul 04
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Yung-Chia Chang was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jun 24
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 Earnings have declined by 9.2% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Profit margins are more than 30% lower than last year (9.5% net profit margin). Market cap is less than US$100m (NT$2.13b market cap, or US$72.1m). Declared Dividend • Jun 06
Dividend reduced to NT$0.17 Dividend of NT$0.17 is 72% lower than last year. Ex-date: 19th June 2025 Payment date: 14th July 2025 Dividend yield will be 0.7%, which is lower than the industry average of 3.0%. Payout Ratios Payout ratio: 82%. Cash payout ratio: 96%. Reported Earnings • May 13
First quarter 2025 earnings released: EPS: NT$0.06 (vs NT$0.022 in 1Q 2024) First quarter 2025 results: EPS: NT$0.06 (up from NT$0.022 in 1Q 2024). Revenue: NT$51.6m (up 40% from 1Q 2024). Net income: NT$4.62m (up 158% from 1Q 2024). Profit margin: 9.0% (up from 4.9% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • May 01
Davicom Semiconductor, Inc. to Report Q1, 2025 Results on May 09, 2025 Davicom Semiconductor, Inc. announced that they will report Q1, 2025 results on May 09, 2025 Announcement • Apr 15
Davicom Semiconductor, Inc. Proposes Cash Dividend for the Year 2024 On April 14, 2025, the board of directors of Davicom Semiconductor, Inc. proposed cash dividend of TWD 0.17 per share for the year 2024. Period which dividends belong to: January 1, 2024 to December 31, 2024. Total amount of cash distributed to shareholders: TWD 14,129,905. New Risk • Mar 30
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: NT$166m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 443% Cash payout ratio: 280% Earnings have declined by 4.7% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (8.7% net profit margin). Revenue is less than US$5m (NT$166m revenue, or US$5.0m). Market cap is less than US$100m (NT$2.32b market cap, or US$69.7m). New Risk • Mar 11
New major risk - Revenue and earnings growth Earnings have declined by 4.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 443% Cash payout ratio: 280% Earnings have declined by 4.7% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (8.7% net profit margin). Market cap is less than US$100m (NT$2.43b market cap, or US$73.8m). Announcement • Mar 03
Davicom Semiconductor, Inc., Annual General Meeting, May 28, 2025 Davicom Semiconductor, Inc., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 3 floor no,6, li hsing 6th rd., east district hsinchu science park, hsinchu city Taiwan Announcement • Feb 18
Davicom Semiconductor, Inc. to Report Fiscal Year 2024 Results on Feb 27, 2025 Davicom Semiconductor, Inc. announced that they will report fiscal year 2024 results on Feb 27, 2025 Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: NT$0.01 (vs NT$0.12 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.01 (down from NT$0.12 in 3Q 2023). Revenue: NT$43.7m (down 7.1% from 3Q 2023). Net income: NT$507.0k (down 95% from 3Q 2023). Profit margin: 1.2% (down from 22% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 31% 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 • Nov 09
Davicom Semiconductor, Inc. Appoints Yeou Liang Lin as President, Effective November 11, 2024 Davicom Semiconductor, Inc. announced newly appointed president of company. Name of the new position holder:Yeou Liang Lin. Resume of the new position holder:Vice president, COO,senior consultant of DAVICOM SEMICONDUCTOR,INC. Effective date of the new appointment is November 11, 2024. Announcement • Nov 02
Davicom Semiconductor, Inc. Announces Retirement of Nien Tai Chen as President, Effective November 8, 2024 Davicom Semiconductor, Inc. announced the change of president of the company. Name of the previous position holder: Nien Tai Chen. Resume of the previous position holder: President of DAVICOM SEMICONDUCTORINC. President Nien Tai Chen's effective retirement date is November 8, 2024. Reason for the change: President Nien Tai Chen applies for retirement due to personal career planning. Announcement • Oct 30
Davicom Semiconductor, Inc. to Report Q3, 2024 Results on Nov 08, 2024 Davicom Semiconductor, Inc. announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 12
Second quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.25 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.04 (down from NT$0.25 in 2Q 2023). Revenue: NT$41.9m (down 40% from 2Q 2023). Net income: NT$3.39m (down 83% from 2Q 2023). Profit margin: 8.1% (down from 29% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 16% 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 • Aug 01
Davicom Semiconductor, Inc. to Report Q2, 2024 Results on Aug 09, 2024 Davicom Semiconductor, Inc. announced that they will report Q2, 2024 results on Aug 09, 2024 Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$36.40, the stock trades at a trailing P/E ratio of 79.1x. Average trailing P/E is 33x in the Semiconductor industry in Taiwan. Total returns to shareholders of 11% over the past three years. Upcoming Dividend • Jun 15
Upcoming dividend of NT$0.61 per share Eligible shareholders must have bought the stock before 19 June 2024. Payment date: 11 July 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.1%). Declared Dividend • May 31
Dividend reduced to NT$0.61 Dividend of NT$0.61 is 39% lower than last year. Ex-date: 19th June 2024 Payment date: 11th July 2024 Dividend yield will be 1.9%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (145% earnings payout ratio) nor is it covered by cash flows (281% cash payout ratio). The dividend has increased by an average of 2.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 62% to bring the payout ratio under control. However, EPS has declined by 2.1% over the last 5 years so the company would need to reverse this trend. Announcement • May 30
Davicom Semiconductor, Inc. Announces Cash Dividend, Payable on July 11, 2024 Davicom Semiconductor, Inc. announced cash dividend of cash dividend of TWD 50,389,104, with 512,000 shares transferred from treasury stocks to employees. The eligible shares for dividend participation amount to 82,605,089 shares, with a distribution of TWD 0.61 per share. Ex-rights (ex-dividend) trading date is June 19, 2024. Ex-rights (ex-dividend) record date is June 25, 2024. Payment date of cash dividend distribution is July 11, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.02 (vs NT$0.18 in 1Q 2023) First quarter 2024 results: EPS: NT$0.02 (down from NT$0.18 in 1Q 2023). Revenue: NT$36.9m (down 45% from 1Q 2023). Net income: NT$1.79m (down 88% from 1Q 2023). Profit margin: 4.9% (down from 22% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has increased by 1% per year. Announcement • May 02
Davicom Semiconductor, Inc. to Report Q1, 2024 Results on May 10, 2024 Davicom Semiconductor, Inc. announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: NT$0.61 (vs NT$0.84 in FY 2022) Full year 2023 results: EPS: NT$0.61 (down from NT$0.84 in FY 2022). Revenue: NT$242.6m (down 21% from FY 2022). Net income: NT$50.7m (down 27% from FY 2022). Profit margin: 21% (down from 23% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. New Risk • Oct 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 7.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.5% average weekly change). Minor Risks Dividend is not well covered by earnings (126% payout ratio). Market cap is less than US$100m (NT$3.03b market cap, or US$93.4m). New Risk • Aug 25
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 6.3% 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: Minor Risks Dividend is not well covered by earnings (126% payout ratio). Dividend is not well covered by earnings (126% payout ratio). Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$3.00b market cap, or US$94.2m). Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$36.30, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 94% over the past three years. New Risk • Aug 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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 Dividend is not well covered by earnings (126% payout ratio). Dividend is not well covered by earnings (126% payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.34b market cap, or US$73.6m). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.25 (vs NT$0.22 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.25 (up from NT$0.22 in 2Q 2022). Revenue: NT$69.5m (down 15% from 2Q 2022). Net income: NT$20.3m (up 13% from 2Q 2022). Profit margin: 29% (up from 22% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 12
Upcoming dividend of NT$1.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 19 June 2023. Payment date: 11 July 2023. The company is paying out more than 100% of its profits and is paying out 79% of its cash flow. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (3.2%). Reported Earnings • Mar 10
Full year 2022 earnings released: EPS: NT$0.84 (vs NT$0.85 in FY 2021) Full year 2022 results: EPS: NT$0.84 (down from NT$0.85 in FY 2021). Revenue: NT$307.1m (up 8.3% from FY 2021). Net income: NT$69.0m (flat on FY 2021). Profit margin: 23% (down from 25% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 24% per year. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$32.90, the stock trades at a trailing P/E ratio of 36.4x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 92% over the past three years. 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. 3 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Niang-Shou Wei was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Nov 12
Davicom Semiconductor, Inc. Announces Executive Changes Davicom Semiconductor, Inc. announced appointment of President by the Board of Directors. Date of the board of directors resolution or date of occurrence of the change: November 11, 2022. Position (Please enter chairperson or president/general manager): President. Name of the previous position holder: Hao, Ting. Resume of the previous position holder: DAVICOM Semiconductor, Inc. Chairman. ame of the new position holder: Chen, Nien-Tai. Resume of the new position holder:DAVICOM Semiconductor, Inc. senior consultant. Effective date of the new appointment: November 11, 2022. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.22 (vs NT$0.17 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.22 (up from NT$0.17 in 2Q 2021). Revenue: NT$81.3m (up 11% from 2Q 2021). Net income: NT$18.1m (up 31% from 2Q 2021). Profit margin: 22% (up from 19% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 20
Upcoming dividend of NT$0.99 per share Eligible shareholders must have bought the stock before 27 July 2022. Payment date: 17 August 2022. The company is paying out more than 100% of its profits and is paying out 88% of its cash flow. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (6.8%). In line with average of industry peers (3.7%). Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$22.85, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 39% over the past three years. Announcement • Jun 30
Davicom Semiconductor, Inc. Announces Changes in Audit Committee Davicom Semiconductor, Inc. announced that name of the functional committees: Audit Committee. Name and resume of the previous position holder: Ueng, Chang-Yue: CFO of Sonavox Electronnic Co. Ltd. Hwang, Jen-Jyh: Adjunct Assosiate Professor of National Sun-Yatsen University Wei, Niang-Shou: Director of Production and Operation Center of ShangHai Fanfeng Vacuum Machinery Co. Ltd. Name and resume of the new position holder: Ueng, Chang-Yue: Financial Manager of Kwo Ger Metal Technology Inc. Hwang, Jen-Jyh:Adjunct Assosiate Professor of National Sun-Yatsen University, and Independent Director of JG Environmental Technology Co. Ltd. Wei, Niang-Shou: Independent Director of Davicom Semiconductor Inc. Reason for the change: Re-election due to the director's term expired. Effective date of the new member is June 29, 2022. Reported Earnings • May 12
First quarter 2022 earnings released: EPS: NT$0.25 (vs NT$0.21 in 1Q 2021) First quarter 2022 results: EPS: NT$0.25 (up from NT$0.21 in 1Q 2021). Revenue: NT$75.8m (up 12% from 1Q 2021). Net income: NT$20.2m (up 20% from 1Q 2021). Profit margin: 27% (up from 25% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Niang-Shou Wei was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 13
Davicom Semiconductor, Inc., Annual General Meeting, Jun 29, 2022 Davicom Semiconductor, Inc., Annual General Meeting, Jun 29, 2022. Location: 3F., No.6, Li-Hsin Rd.6 Hsinchu Taiwan Agenda: To report the business of 2021 and the operation plan for 2022; to consider Audit Committee's review report of 2021; to report the director's remuneration policy, and the 2021 directors' and employees' compensation distribution; to report of Implementation Status of the 2020 Company's Share Buyback; to approve 2021 Business Report and Financial Statement; to approve the proposal for distribution of 2021 earnings; and to transact other matters. Announcement • Apr 12
Davicom Semiconductor, Inc. Proposes Cash Dividend Distribution for the Year Ended December 31, 2021 The board of directors of Davicom Semiconductor, Inc. proposed cash dividend of TWD 1 per share for the year ended December 31, 2021. The appropriations of earnings in cash dividends to shareholders is TWD 0.487 per share and cash distributed from legal reserve and capital surplus to shareholders is TWD 0.513 per share. The total amount of cash distributed to shareholders is TWD 81,717,089. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.85 (up from NT$0.41 in FY 2020). Revenue: NT$283.5m (up 21% from FY 2020). Net income: NT$69.7m (up 108% from FY 2020). Profit margin: 25% (up from 14% 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 20% per year whereas the company’s share price has increased by 23% per year. Announcement • Feb 26
Davicom Semiconductor, Inc. Appoints Ting Hao as Chief Executive Officer Davicom Semiconductor, Inc. announced appointment of Ting Hao as Chief Executive Officer. Ting Hao is president of the company. Effective date is February 24, 2022. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 19% share price gain to NT$41.15, the stock trades at a trailing P/E ratio of 56x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 149% over the past three years. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS NT$0.26 (vs NT$0.069 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$77.0m (up 35% from 3Q 2020). Net income: NT$20.9m (up 271% from 3Q 2020). Profit margin: 27% (up from 9.9% 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 13% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 22
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 19 August 2021. Trailing yield: 1.9%. 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 24
Investor sentiment improved over the past week After last week's 18% share price gain to NT$32.30, the stock trades at a trailing P/E ratio of 53x. Average trailing P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$35.45, the stock trades at a trailing P/E ratio of 64.4x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 80% over the past three years. Announcement • Apr 27
Davicom Semiconductor, Inc. Proposes Cash Dividend for the Year Ended December 31, 2020 The Board of Directors of Davicom Semiconductor, Inc. proposed cash dividend distribution to shareholders with TWD 0.8 per share for the year ended December 31, 2020. Appropriations of earnings in cash dividends to shareholders (TWD 0.36 per share). Total amount of cash distributed to shareholders (TWD): 65,373,671. Reported Earnings • Apr 27
First quarter 2021 earnings released: EPS NT$0.21 (vs NT$0.006 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$67.5m (up 37% from 1Q 2020). Net income: NT$16.8m (up NT$16.4m from 1Q 2020). Profit margin: 25% (up from 0.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 08
New 90-day high: NT$30.80 The company is up 31% from its price of NT$23.60 on 08 December 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 16% over the same period. Announcement • Feb 27
Davicom Semiconductor, Inc., Annual General Meeting, Jun 07, 2021 Davicom Semiconductor, Inc., Annual General Meeting, Jun 07, 2021. Location: (Auditorium)3F., No.6, Li-Hsin Rd. 6, Science Park Hsinchu Taiwan Agenda: To report the business of 2020 and the operation plan for 2021; to consider the audit committee's review report of 2020; to consider the report the amount of 2020 directors' and employees' compensation; to consider the report the implementation status of the company's Share back of 2018 and 2020; to approve the 2020 business report and financial statement; to approve the proposal for distribution of 2020 earnings; to proposal for cash distribution of 2020 additional paid in capital; to proposal for revise part of the regulation of rules and procedures of shareholders meeting; and to consider the other matters. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 15% share price gain to NT$28.35, the stock is trading at a trailing P/E ratio of 56.8x, up from the previous P/E ratio of 49.3x. This compares to an average P/E of 29x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 39%. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 19% share price gain to NT$27.50, the stock is trading at a trailing P/E ratio of 55.1x, up from the previous P/E ratio of 46.2x. This compares to an average P/E of 26x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 24%. Is New 90 Day High Low • Jan 18
New 90-day high: NT$25.00 The company is up 17% from its price of NT$21.45 on 20 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 32% over the same period. Is New 90 Day High Low • Nov 23
New 90-day high: NT$24.00 The company is up 21% from its price of NT$19.90 on 25 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 15% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.07 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$57.1m (down 12% from 3Q 2019). Net income: NT$5.63m (down 39% from 3Q 2019). Profit margin: 9.9% (down from 14% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.