Alchip Technologies, Limited

TWSE:3661 Stock Report

Market Cap: NT$185.0b

Alchip Technologies Valuation

Is 3661 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 3661 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3661 (NT$2240) is trading below our estimate of fair value (NT$5101.67)

Significantly Below Fair Value: 3661 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3661?

Key metric: As 3661 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3661. This is calculated by dividing 3661's market cap by their current earnings.
What is 3661's PE Ratio?
PE Ratio31.2x
EarningsNT$5.73b
Market CapNT$184.96b

Price to Earnings Ratio vs Peers

How does 3661's PE Ratio compare to its peers?

The above table shows the PE ratio for 3661 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average82x
3443 Global Unichip
49.3x22.9%NT$170.9b
3653 Jentech Precision Industrial
71.9xn/aNT$214.3b
3529 eMemory Technology
126.7x29.6%NT$224.0b
5274 ASPEED Technology
80.1x38.8%NT$155.8b
3661 Alchip Technologies
31.2x32.2%NT$185.0b

Price-To-Earnings vs Peers: 3661 is good value based on its Price-To-Earnings Ratio (31.2x) compared to the peer average (82.9x).

Price to Earnings Ratio vs Industry

How does 3661'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
3661 31.2xIndustry Avg. 31.7xNo. of Companies32PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 3661 is good value based on its Price-To-Earnings Ratio (31.2x) compared to the TW Semiconductor industry average (31.7x).

Price to Earnings Ratio vs Fair Ratio

What is 3661'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.

3661 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio31.2x
Fair PE Ratio41.7x

Price-To-Earnings vs Fair Ratio: 3661 is good value based on its Price-To-Earnings Ratio (31.2x) compared to the estimated Fair Price-To-Earnings Ratio (41.7x).

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 3661 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$2,240.00
NT$3,240.15
+44.6%
22.2%NT$4,578.00NT$2,200.00n/a13
Nov ’25NT$2,030.00
NT$3,322.46
+63.7%
20.4%NT$4,578.00NT$2,200.00n/a13
Oct ’25NT$1,925.00
NT$3,784.54
+96.6%
19.7%NT$5,400.00NT$2,260.00n/a13
Sep ’25NT$2,650.00
NT$4,013.00
+51.4%
15.0%NT$5,400.00NT$3,100.00n/a13
Aug ’25NT$2,590.00
NT$4,113.23
+58.8%
14.1%NT$5,400.00NT$3,300.00n/a13
Jul ’25NT$2,495.00
NT$4,126.46
+65.4%
13.0%NT$5,400.00NT$3,300.00n/a13
Jun ’25NT$2,870.00
NT$4,180.31
+45.7%
13.4%NT$5,400.00NT$3,300.00n/a13
May ’25NT$3,120.00
NT$4,491.25
+44.0%
15.0%NT$5,400.00NT$3,300.00n/a12
Apr ’25NT$3,420.00
NT$4,820.42
+40.9%
11.0%NT$5,600.00NT$3,600.00n/a12
Mar ’25NT$4,340.00
NT$4,317.08
-0.5%
18.8%NT$5,180.00NT$2,700.00n/a12
Feb ’25NT$3,960.00
NT$3,880.45
-2.0%
14.7%NT$4,650.00NT$2,700.00n/a11
Jan ’25NT$3,275.00
NT$3,595.91
+9.8%
14.1%NT$4,500.00NT$2,700.00n/a11
Dec ’24NT$3,080.00
NT$3,258.00
+5.8%
7.5%NT$3,600.00NT$2,700.00n/a10
Nov ’24NT$2,680.00
NT$2,594.00
-3.2%
17.7%NT$3,180.00NT$1,500.00NT$2,030.0010
Oct ’24NT$2,690.00
NT$2,484.00
-7.7%
16.3%NT$3,080.00NT$1,500.00NT$1,925.0010
Sep ’24NT$2,445.00
NT$2,365.45
-3.3%
12.9%NT$2,700.00NT$1,500.00NT$2,650.0011
Aug ’24NT$1,960.00
NT$1,897.64
-3.2%
19.1%NT$2,400.00NT$1,385.00NT$2,590.0011
Jul ’24NT$1,795.00
NT$1,769.45
-1.4%
17.0%NT$2,400.00NT$1,385.00NT$2,495.0011
Jun ’24NT$1,700.00
NT$1,497.00
-11.9%
13.2%NT$1,920.00NT$1,070.00NT$2,870.0010
May ’24NT$1,185.00
NT$1,264.11
+6.7%
17.5%NT$1,590.00NT$790.00NT$3,120.009
Apr ’24NT$1,240.00
NT$1,238.56
-0.1%
15.7%NT$1,480.00NT$790.00NT$3,420.009
Mar ’24NT$1,035.00
NT$1,132.88
+9.5%
16.1%NT$1,400.00NT$790.00NT$4,340.008
Feb ’24NT$888.00
NT$1,101.86
+24.1%
17.9%NT$1,400.00NT$790.00NT$3,960.007
Jan ’24NT$788.00
NT$1,101.86
+39.8%
17.9%NT$1,400.00NT$790.00NT$3,275.007
Dec ’23NT$895.00
NT$1,101.86
+23.1%
17.9%NT$1,400.00NT$790.00NT$3,080.007
Nov ’23NT$676.00
NT$1,103.50
+63.2%
14.7%NT$1,400.00NT$910.00NT$2,680.008

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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