New Risk • May 30
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 46% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 05
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: NT$0.58 (up from NT$0.28 in 1Q 2025). Revenue: NT$930.2m (up 9.5% from 1Q 2025). Net income: NT$53.5m (up 108% from 1Q 2025). Profit margin: 5.8% (up from 3.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 39%. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$123, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total loss to shareholders of 27% over the past three years. Major Estimate Revision • Mar 13
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from NT$4.57b to NT$4.36b. EPS estimate also fell from NT$6.59 per share to NT$5.35 per share. Net income forecast to grow 101% next year vs 43% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$203 to NT$148. Share price fell 8.7% to NT$105 over the past week. Price Target Changed • Mar 09
Price target decreased by 31% to NT$148 Down from NT$215, the current price target is an average from 2 analysts. New target price is 42% above last closing price of NT$104. Stock is down 48% over the past year. The company is forecast to post earnings per share of NT$5.35 for next year compared to NT$2.66 last year. Announcement • Mar 06
RichWave Technology Corporation, Annual General Meeting, May 28, 2026 RichWave Technology Corporation, Annual General Meeting, May 28, 2026. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan New Risk • Mar 06
New major risk - Revenue and earnings growth Earnings have declined by 54% 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. This is currently the only risk that has been identified for the company. Major Estimate Revision • Nov 06
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$3.98b to NT$3.82b. EPS estimate also fell from NT$2.88 per share to NT$2.46 per share. Net income forecast to grow 145% next year vs 32% growth forecast for Semiconductor industry in Taiwan. Consensus price target of NT$200 unchanged from last update. Share price fell 7.2% to NT$149 over the past week. Reported Earnings • Nov 03
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: NT$1.40 (up from NT$0.19 loss in 3Q 2024). Revenue: NT$985.9m (up 8.5% from 3Q 2024). Net income: NT$129.5m (up NT$146.9m from 3Q 2024). Profit margin: 13% (up from net loss in 3Q 2024). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) exceeded analyst estimates by 30%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 21
Upcoming dividend of NT$1.10 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 26 September 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.8%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (2.2%). Reported Earnings • Aug 01
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: NT$0.32 loss per share (down from NT$0.84 profit in 2Q 2024). Revenue: NT$974.4m (down 3.7% from 2Q 2024). Net loss: NT$29.1m (down 138% from profit in 2Q 2024). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • May 01
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: EPS: NT$0.28 (down from NT$0.31 in 1Q 2024). Revenue: NT$849.4m (down 1.3% from 1Q 2024). Net income: NT$25.8m (down 7.2% from 1Q 2024). Profit margin: 3.0% (down from 3.2% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Apr 23
RichWave Technology Corporation to Report Q1, 2025 Results on Apr 30, 2025 RichWave Technology Corporation announced that they will report Q1, 2025 results on Apr 30, 2025 Major Estimate Revision • Apr 15
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from NT$5.12 to NT$4.38. Revenue forecast unchanged from NT$4.28b at last update. Net income forecast to grow 76% next year vs 23% growth forecast for Semiconductor industry in Taiwan. Consensus price target of NT$217 unchanged from last update. Share price rose 3.7% to NT$139 over the past week. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$134, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total loss to shareholders of 32% over the past three years. Price Target Changed • Mar 15
Price target decreased by 8.7% to NT$217 Down from NT$238, the current price target is an average from 2 analysts. New target price is 17% above last closing price of NT$187. Stock is down 16% over the past year. The company is forecast to post earnings per share of NT$5.12 for next year compared to NT$1.73 last year. New Risk • Mar 08
New major risk - Revenue and earnings growth Earnings have declined by 48% 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 Risk Earnings have declined by 48% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.6% average weekly change). Major Estimate Revision • Mar 07
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$5.02b to NT$4.75b. EPS estimate also fell from NT$6.03 per share to NT$5.12 per share. Net income forecast to grow 680% next year vs 19% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$238 to NT$228. Share price was steady at NT$197 over the past week. Announcement • Mar 03
RichWave Technology Corporation, Annual General Meeting, May 29, 2025 RichWave Technology Corporation, Annual General Meeting, May 29, 2025. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan Announcement • Feb 28
Richwave Technology Corporation Proposes Cash Dividends for the Period of January 1, 2024 to December 31, 2024 RichWave Technology Corporation proposed cash dividends for the period of January 1, 2024 to December 31, 2024 of TWD 1.1 per share or TWD 101,104,529. Announcement • Feb 21
RichWave Technology Corporation to Report Fiscal Year 2024 Results on Feb 27, 2025 RichWave Technology Corporation announced that they will report fiscal year 2024 results on Feb 27, 2025 Announcement • Dec 27
RichWave Technology Corporation Announces Establishment of Sustainability Development Committee and Its Members RichWave Technology Corporation announced the establishment of the Sustainability Development Committee and its Members effective December 26, 2024. Members: Shih-Chi Wang (President of the Company); Chia-Ying Ma (Independent Director of the Company); and Wen-Hsiang Lu (Independent Director of the Company). The term of the members starts from the date of appointment and ends on the day the current Board of Directors' term expires. Price Target Changed • Nov 04
Price target decreased by 9.9% to NT$223 Down from NT$248, the current price target is an average from 4 analysts. New target price is 41% above last closing price of NT$158. Stock is up 23% over the past year. The company is forecast to post earnings per share of NT$1.05 next year compared to a net loss per share of NT$2.46 last year. Reported Earnings • Nov 02
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: NT$0.19 loss per share (improved from NT$0.50 loss in 3Q 2023). Revenue: NT$908.8m (up 23% from 3Q 2023). Net loss: NT$17.5m (loss narrowed 61% from 3Q 2023). Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Announcement • Oct 24
RichWave Technology Corporation to Report Q3, 2024 Results on Oct 31, 2024 RichWave Technology Corporation announced that they will report Q3, 2024 results on Oct 31, 2024 Buy Or Sell Opportunity • Sep 12
Now 23% overvalued Over the last 90 days, the stock has fallen 21% to NT$172. The fair value is estimated to be NT$140, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 27% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 31% in a year. Earnings are forecast to grow by 1,349% in the next year. New Risk • Jul 30
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 8.6% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 27
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: NT$0.84 (up from NT$0.60 loss in 2Q 2023). Revenue: NT$1.01b (up 37% from 2Q 2023). Net income: NT$75.9m (up NT$130.4m from 2Q 2023). Profit margin: 7.5% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 181%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 122 percentage points per year, which is a significant difference in performance. Announcement • Jul 18
RichWave Technology Corporation to Report Q2, 2024 Results on Jul 25, 2024 RichWave Technology Corporation announced that they will report Q2, 2024 results on Jul 25, 2024 Price Target Changed • Apr 27
Price target decreased by 14% to NT$193 Down from NT$224, the current price target is an average from 3 analysts. New target price is 12% above last closing price of NT$173. Stock is up 1.2% over the past year. The company is forecast to post earnings per share of NT$3.67 next year compared to a net loss per share of NT$2.46 last year. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: NT$0.31 (vs NT$0.99 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.31 (up from NT$0.99 loss in 1Q 2023). Revenue: NT$860.7m (up 35% from 1Q 2023). Net income: NT$27.8m (up NT$116.7m from 1Q 2023). Profit margin: 3.2% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: NT$2.46 loss per share (down from NT$0.62 profit in FY 2022). Revenue: NT$2.98b (down 13% from FY 2022). Net loss: NT$222.3m (down NT$277.3m from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Announcement • Mar 01
RichWave Technology Corporation, Annual General Meeting, May 29, 2024 RichWave Technology Corporation, Annual General Meeting, May 29, 2024. Location: 1F,No.399, RuiGuang Road, Neihu Dist., Taipei Taipei Taiwan Agenda: To report operating result of 2023; to report 2023 employees' profit sharing and directors compensation; to consider Audit Committee's review report; to Adoption of the 2023 Business Report and Financial Statements; to Adoption of the proposal for distribution of 2023 earnings; and to discuss other matters. New Risk • Feb 16
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 7.6% 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. This is currently the only risk that has been identified for the company. New Risk • Nov 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 5.6% 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 15% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (5.6% average weekly change). New Risk • Nov 23
New major risk - Revenue and earnings growth Earnings have declined by 15% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 29
Third quarter 2023 earnings released: NT$0.50 loss per share (vs NT$1.10 profit in 3Q 2022) Third quarter 2023 results: NT$0.50 loss per share (down from NT$1.10 profit in 3Q 2022). Revenue: NT$738.4m (down 18% from 3Q 2022). Net loss: NT$45.0m (down 146% from profit in 3Q 2022). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. New Risk • Sep 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Price Target Changed • Aug 09
Price target decreased by 8.5% to NT$168 Down from NT$183, the current price target is an average from 3 analysts. New target price is 5.2% above last closing price of NT$160. Stock is up 20% over the past year. The company is forecast to post a net loss per share of NT$1.30 compared to earnings per share of NT$0.62 last year. Reported Earnings • Jul 29
Second quarter 2023 earnings released: NT$0.60 loss per share (vs NT$0.43 profit in 2Q 2022) Second quarter 2023 results: NT$0.60 loss per share (down from NT$0.43 profit in 2Q 2022). Revenue: NT$738.0m (down 16% from 2Q 2022). Net loss: NT$54.5m (down 244% from profit in 2Q 2022). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 30
Price target increased by 33% to NT$122 Up from NT$91.67, the current price target is an average from 4 analysts. New target price is 28% below last closing price of NT$171. Stock is down 16% over the past year. The company posted earnings per share of NT$0.62 last year. Reported Earnings • Mar 10
Full year 2022 earnings released: EPS: NT$0.62 (vs NT$5.26 in FY 2021) Full year 2022 results: EPS: NT$0.62 (down from NT$5.26 in FY 2021). Revenue: NT$3.43b (down 36% from FY 2021). Net income: NT$55.1m (down 88% from FY 2021). Profit margin: 1.6% (down from 8.8% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Board Change • Nov 16
Insufficient new directors 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. 3 highly experienced directors. Independent Director Michael Ma was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: NT$1.10 (vs NT$0.33 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.10 (up from NT$0.33 in 3Q 2021). Revenue: NT$896.1m (down 13% from 3Q 2021). Net income: NT$97.3m (up 238% from 3Q 2021). Profit margin: 11% (up from 2.8% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Price Target Changed • Oct 01
Price target decreased to NT$190 Down from NT$206, the current price target is provided by 1 analyst. New target price is 95% above last closing price of NT$97.50. Stock is down 56% over the past year. The company posted earnings per share of NT$5.26 last year. Price Target Changed • Aug 02
Price target increased to NT$206 Up from NT$193, the current price target is provided by 1 analyst. New target price is 53% above last closing price of NT$135. Stock is down 53% over the past year. The company posted earnings per share of NT$5.26 last year. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: NT$0.43 (vs NT$2.85 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.43 (down from NT$2.85 in 2Q 2021). Revenue: NT$876.5m (down 50% from 2Q 2021). Net income: NT$37.9m (down 85% from 2Q 2021). Profit margin: 4.3% (down from 14% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$143, the stock trades at a trailing P/E ratio of 59.4x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 126% over the past three years. Upcoming Dividend • Jun 27
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 04 July 2022. Payment date: 29 July 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (6.3%). Lower than average of industry peers (3.6%). Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: NT$0.04 (vs NT$2.90 in 1Q 2021) First quarter 2022 results: EPS: NT$0.04 (down from NT$2.90 in 1Q 2021). Revenue: NT$862.7m (down 51% from 1Q 2021). Net income: NT$3.13m (down 99% from 1Q 2021). Profit margin: 0.4% (down from 15% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Michael Ma 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. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 15% share price gain to NT$202, the stock trades at a trailing P/E ratio of 38.4x. Average trailing P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 464% over the past three years. Price Target Changed • Mar 02
Price target decreased to NT$263 Down from NT$295, the current price target is provided by 1 analyst. New target price is 22% above last closing price of NT$217. Stock is down 47% over the past year. The company posted earnings per share of NT$5.26 last year. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$5.26 (down from NT$9.88 in FY 2020). Revenue: NT$5.32b (flat on FY 2020). Net income: NT$465.5m (down 46% from FY 2020). Profit margin: 8.8% (down from 16% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has increased by 84% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 27
Richwave Technology Corporation Proposes Cash Dividend RichWave Technology Corporation proposed earnings in cash dividends to shareholders of TWD 3.5 with total amount of cash distributed to shareholders of TWD 309,641,171. Announcement • Feb 26
RichWave Technology Corporation, Annual General Meeting, May 26, 2022 RichWave Technology Corporation, Annual General Meeting, May 26, 2022. Location: 1F,No.399, RuiGuang Road, Neihu Dist. Taipei Taiwan Agenda: To report the business of 2021; to consider Audit Committee's review report; to report 2021 employees' profit sharing and directors' compensation; to consider Adoption of the 2021 Business Report and Financial Statements; to revise the Articles of Incorporation; to revise the Procedures for Acquisition or Disposal of Assets; and to consider other matters. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 16% share price gain to NT$335, the stock trades at a trailing P/E ratio of 34.2x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 998% over the past three years. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS NT$0.33 (vs NT$3.50 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.03b (down 39% from 3Q 2020). Net income: NT$28.8m (down 91% from 3Q 2020). Profit margin: 2.8% (down from 18% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has increased by 109% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improved over the past week After last week's 20% share price gain to NT$279, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 1,080% over the past three years. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$210, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 720% over the past three years. Upcoming Dividend • Sep 16
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 23 September 2021. Payment date: 04 November 2021. Trailing yield: 1.0%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (2.1%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$3.98 (vs NT$2.97 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$1.73b (up 45% from 2Q 2020). Net income: NT$251.7m (up 37% from 2Q 2020). Profit margin: 14% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has increased by 89% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Aug 06
Price target decreased to NT$475 Down from NT$534, the current price target is provided by 1 analyst. New target price is 20% above last closing price of NT$395. Stock is up 43% over the past year. Price Target Changed • Jun 02
Price target increased to NT$556 Up from NT$483, the current price target is provided by 1 analyst. New target price is 11% above last closing price of NT$501. Stock is up 186% over the past year. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$443, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 631% over the past three years. Reported Earnings • May 02
First quarter 2021 earnings released: EPS NT$4.06 (vs NT$0.70 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.74b (up 110% from 1Q 2020). Net income: NT$256.6m (up 495% from 1Q 2020). Profit margin: 15% (up from 5.2% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has increased by 106% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$543, the stock trades at a trailing P/E ratio of 39.3x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 769% over the past three years. Price Target Changed • Mar 01
Price target raised to NT$463 Up from NT$425, the current price target is provided by 1 analyst. The new target price is 21% below the current share price of NT$583. As of last close, the stock is up 254% over the past year. Announcement • Feb 26
RichWave Technology Corporation, Annual General Meeting, May 27, 2021 RichWave Technology Corporation, Annual General Meeting, May 27, 2021. Location: 1F,No.399, RuiGuang Road, Taipei Taiwan Agenda: To report the business of 2020; to consider Audit Committee's review report of 2020 financial statements; to consider 2020 employees' profit sharing bonus and directors' compensation; and to consider other matters. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS NT$13.82 (vs NT$3.13 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$5.35b (up 95% from FY 2019). Net income: NT$866.2m (up 354% from FY 2019). Profit margin: 16% (up from 6.9% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 06
Richwave Technology Corporation Announces the Retirement of Hui-Ching,Chien as Research and Development Officer RichWave Technology Corporation announces the retirement of HUI-CHING,CHIEN as research and development officer, date of change is February 5, 2021. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 22% share price gain to NT$505, the stock is trading at a trailing P/E ratio of 54.2x, up from the previous P/E ratio of 44.5x. 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 552%. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improved over the past week After last week's 17% share price gain to NT$476, the stock is trading at a trailing P/E ratio of 51x, up from the previous P/E ratio of 43.5x. 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 516%. Is New 90 Day High Low • Jan 04
New 90-day high: NT$406 The company is up 66% from its price of NT$245 on 06 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 25% over the same period. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improved over the past week After last week's 16% share price gain to NT$389, the stock is trading at a trailing P/E ratio of 41.8x, up from the previous P/E ratio of 36x. 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 364%. Is New 90 Day High Low • Dec 16
New 90-day high: NT$372 The company is up 56% from its price of NT$238 on 17 September 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 13% over the same period. Valuation Update With 7 Day Price Move • Nov 20
Market bids up stock over the past week After last week's 18% share price gain to NT$352, the stock is trading at a trailing P/E ratio of 37.8x, up from the previous P/E ratio of 32.1x. This compares to an average P/E of 22x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 271%. Valuation Update With 7 Day Price Move • Nov 18
Market bids up stock over the past week After last week's 17% share price gain to NT$330, the stock is trading at a trailing P/E ratio of 35.4x, up from the previous P/E ratio of 30.3x. This compares to an average P/E of 22x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 245%. Is New 90 Day High Low • Nov 09
New 90-day high: NT$284 The company is up 4.0% from its price of NT$274 on 11 August 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 3.0% over the same period. 