Laster Tech Valuation

Is 3346 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

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 3346 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3346 (NT$38.9) is trading above our estimate of fair value (NT$23.62)

Significantly Below Fair Value: 3346 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3346?

Key metric: As 3346 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3346. This is calculated by dividing 3346's market cap by their current earnings.
What is 3346's PE Ratio?
PE Ratio	14.5x
Earnings	NT$309.09m
Market Cap	NT$4.48b

3346 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.7x
Enterprise Value/EBITDA	9.9x
PEG Ratio	1.7x

Price to Earnings Ratio vs Peers

How does 3346's PE Ratio compare to its peers?

The above table shows the PE ratio for 3346 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	42x
6291 Analog Integrations	13.3x	n/a	NT$3.9b
6417 Securitag Assembly Group	32x	n/a	NT$4.7b
6720 Major-Power Technology	30.8x	n/a	NT$3.9b
8227 Progate Group	91.9x	n/a	NT$6.1b
3346 Laster Tech	14.5x	8.6%	NT$4.5b

Price-To-Earnings vs Peers: 3346 is good value based on its Price-To-Earnings Ratio (14.5x) compared to the peer average (42x).

Price to Earnings Ratio vs Industry

How does 3346's PE Ratio compare vs other companies in the TW Semiconductor Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap
4944 Crystalwise Technology	4x	n/a	US$15.69m

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 3346 is good value based on its Price-To-Earnings Ratio (14.5x) compared to the TW Semiconductor industry average (31.2x).

Price to Earnings Ratio vs Fair Ratio

What is 3346'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.

3346 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	14.5x
Fair PE Ratio	14.5x

Price-To-Earnings vs Fair Ratio: 3346 is good value based on its Price-To-Earnings Ratio (14.5x) compared to the estimated Fair Price-To-Earnings Ratio (14.5x).

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 3346 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	NT$38.90	NT$44.00 +13.1%	5.3%	NT$48.00	NT$42.00	n/a	4
Nov ’25	NT$38.30	NT$44.00 +14.9%	5.3%	NT$48.00	NT$42.00	n/a	4
Oct ’25	NT$37.95	NT$45.00 +18.6%	5.7%	NT$48.00	NT$42.00	n/a	4
Sep ’25	NT$39.80	NT$52.25 +31.3%	10.6%	NT$60.00	NT$47.00	n/a	4
Aug ’25	NT$40.10	NT$52.25 +30.3%	10.6%	NT$60.00	NT$47.00	n/a	4
Jul ’25	NT$41.65	NT$55.50 +33.3%	9.6%	NT$60.00	NT$47.00	n/a	4
Jun ’25	NT$41.35	NT$55.50 +34.2%	9.6%	NT$60.00	NT$47.00	n/a	4
May ’25	NT$42.80	NT$60.50 +41.4%	16.4%	NT$75.00	NT$47.00	n/a	4
Apr ’25	NT$48.70	NT$66.67 +36.9%	9.4%	NT$75.00	NT$60.00	n/a	3
Mar ’25	NT$51.50	NT$65.67 +27.5%	7.5%	NT$72.00	NT$60.00	n/a	3
Feb ’25	NT$48.20	NT$65.67 +36.2%	7.5%	NT$72.00	NT$60.00	n/a	3
Jan ’25	NT$52.70	NT$65.67 +24.6%	7.5%	NT$72.00	NT$60.00	n/a	3

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

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