Upcoming Dividend • May 25
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 01 June 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (1.1%). New Risk • May 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 11% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 11% per year for the foreseeable future. High level of non-cash earnings (26% accrual ratio). Minor Risk Dividend is not well covered by cash flows (295% cash payout ratio). Reported Earnings • Apr 25
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: NT$2.29 (down from NT$2.33 in 1Q 2025). Revenue: NT$12.0b (flat on 1Q 2025). Net income: NT$1.05b (down 3.1% from 1Q 2025). Profit margin: 8.7% (down from 9.0% in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is forecast to stay flat during the next 2 years compared to a 20% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 1% per year. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$110, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 28x in the Semiconductor industry in Taiwan. Total returns to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$59.44 per share. Price Target Changed • Apr 10
Price target decreased by 11% to NT$140 Down from NT$158, the current price target is an average from 4 analysts. New target price is 57% above last closing price of NT$89.00. Stock is down 44% over the past year. The company is forecast to post earnings per share of NT$9.73 for next year compared to NT$9.40 last year. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$102, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 15% over the past three years. Price Target Changed • Mar 02
Price target decreased by 7.0% to NT$153 Down from NT$164, the current price target is an average from 4 analysts. New target price is 39% above last closing price of NT$110. Stock is down 44% over the past year. The company is forecast to post earnings per share of NT$10.36 for next year compared to NT$9.40 last year. New Risk • Feb 28
New major risk - Revenue and earnings growth Earnings have declined by 0.04% 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: 92% Cash payout ratio: 163% Earnings have declined by 0.04% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (8.9% net profit margin). Announcement • Feb 26
Radiant Opto-Electronics Corporation, Annual General Meeting, May 27, 2026 Radiant Opto-Electronics Corporation, Annual General Meeting, May 27, 2026, at 09:30 Taipei Standard Time. Location: b1 floor no,2, chung erh rd., cianjhen district, kaohsiung city Taiwan Major Estimate Revision • Nov 06
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$48.6b to NT$49.8b. EPS estimate increased from NT$10.17 to NT$11.62 per share. Net income forecast to shrink 8.8% next year vs 32% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$164 to NT$159. Share price rose 2.7% to NT$133 over the past week. New Risk • Nov 03
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 92% Cash payout ratio: 265% Dividend yield: 7.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 92% Cash payout ratio: 265% Earnings are forecast to decline by an average of 19% per year for the foreseeable future. High level of non-cash earnings (43% accrual ratio). Reported Earnings • Nov 03
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: NT$3.30 (down from NT$3.64 in 3Q 2024). Revenue: NT$12.6b (down 11% from 3Q 2024). Net income: NT$1.52b (down 10% from 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.9%. Revenue is expected to decline by 4.8% p.a. on average during the next 3 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 16%. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Major Estimate Revision • Aug 21
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$49.1b to NT$48.6b. EPS estimate also fell from NT$10.71 per share to NT$9.63 per share. Net income forecast to shrink 15% next year vs 26% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$170 to NT$164. Share price was steady at NT$138 over the past week. Reported Earnings • Aug 01
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: NT$1.79 (down from NT$3.87 in 2Q 2024). Revenue: NT$12.6b (up 5.2% from 2Q 2024). Net income: NT$825.8m (down 54% from 2Q 2024). Profit margin: 6.6% (down from 15% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) exceeded analyst estimates by 28%. Revenue is expected to decline by 5.6% p.a. on average during the next 3 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 13%. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Jun 26
Radiant Opto-Electronics Corporation (TWSE:6176) agreed to acquire Inkron Oy from Nagase ChemteX Corporation and others for ¥1 billion. Radiant Opto-Electronics Corporation (TWSE:6176) agreed to acquire Inkron Oy from Nagase ChemteX Corporation and others for ¥1 billion on June 25, 2025. A cash consideration of ¥1.03 billion will be paid by Radiant Opto-Electronics Corporation. As part of consideration, ¥1.03 billion is paid towards common equity of Inkron Oy. The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The expected completion of the transaction is by August 2025. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$134, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 90% over the past three years. Declared Dividend • Jun 07
Dividend increased to NT$10.61 Dividend of NT$10.61 is 6.1% higher than last year. Ex-date: 20th June 2025 Payment date: 18th July 2025 Dividend yield will be 7.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not covered by cash flows (131% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 38% over the next 3 years. Since a fall of 15% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Price Target Changed • Apr 28
Price target decreased by 12% to NT$170 Down from NT$193, the current price target is an average from 6 analysts. New target price is 15% above last closing price of NT$148. Stock is down 25% over the past year. The company is forecast to post earnings per share of NT$10.19 for next year compared to NT$15.63 last year. Reported Earnings • Apr 26
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: NT$2.33 (down from NT$4.18 in 1Q 2024). Revenue: NT$12.0b (up 11% from 1Q 2024). Net income: NT$1.09b (down 44% from 1Q 2024). Profit margin: 9.0% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is expected to decline by 5.4% p.a. on average during the next 3 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 14%. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Apr 25
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$52.6b to NT$47.3b. EPS estimate also fell from NT$13.08 per share to NT$10.00 per share. Net income forecast to shrink 36% next year vs 20% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$193 to NT$189. Share price fell 6.2% to NT$151 over the past week. Announcement • Apr 17
Radiant Opto-Electronics Corporation to Report Q1, 2025 Results on Apr 24, 2025 Radiant Opto-Electronics Corporation announced that they will report Q1, 2025 results on Apr 24, 2025 Announcement • Apr 11
Radiant Opto-Electronics Corporation Announces Cash Dividends for the Year Ended December 31, 2024 Radiant Opto-Electronics Corporation announced appropriations of earnings in cash dividends to shareholders TWD 10.50000000 per share for the year ended December 31, 2024. Total amount of cash distributed to shareholders is TWD 4,882,786,262. 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$153, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$79.32 per share. Announcement • Mar 03
Radiant Opto-Electronics Corporation, Annual General Meeting, May 28, 2025 Radiant Opto-Electronics Corporation, Annual General Meeting, May 28, 2025, at 09:30 Taipei Standard Time. Location: b1 floor no,2, chung erh rd., cianjhen district, kaohsiung city Taiwan New Risk • Mar 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 30% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 23% per year for the foreseeable future. High level of non-cash earnings (30% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Feb 20
Radiant Opto-Electronics Corporation to Report Q4, 2024 Results on Feb 27, 2025 Radiant Opto-Electronics Corporation announced that they will report Q4, 2024 results on Feb 27, 2025 Announcement • Jan 03
Radiant Opto-Electronics Corporation's Subsidiary Declares Cash Dividend Radiant Opto-Electronics Corporation announced on behalf of the subsidiary, Profit Shine Investment Limited declared cash dividend of CNY 1,708,616,461.19. Ex-rights (ex-dividend) record date is January 2, 2025. Announcement • Jan 02
Radiant Opto-Electronics Corporation Announce on Behalf of Profit Shine Investment Limited Approves Distribution of Dividends Radiant Opto-Electronics Corporation announced on behalf of the subsidiary, Profit Shine Investment Limited resolution on the record date for distribution of dividends. Type and monetary amount of dividend distribution: Cash dividends CNY 5,000,000.00. Ex-rights (ex-dividend) record date is December 31, 2024. New Risk • Dec 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.2% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 8.2% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (91% cash payout ratio). Reported Earnings • Nov 05
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: NT$3.64 (down from NT$4.10 in 3Q 2023). Revenue: NT$14.2b (up 24% from 3Q 2023). Net income: NT$1.69b (down 11% from 3Q 2023). Profit margin: 12% (down from 17% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 1.4% 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, earnings per share has increased by 2% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 24
Radiant Opto-Electronics Corporation to Report Q3, 2024 Results on Oct 31, 2024 Radiant Opto-Electronics Corporation announced that they will report Q3, 2024 results on Oct 31, 2024 Announcement • Sep 20
Radiant Opto-Electronics Corporation acquired NIL Technology ApS from Theodor Nielsen, Brian Bilenberg and others for €300 million. Radiant Opto-Electronics Corporation acquired NIL Technology ApS from Theodor Nielsen, Brian Bilenberg and others for €300 million on September 20, 2024.
Radiant Opto-Electronics Corporation completed the acquisition of NIL Technology ApS from Theodor Nielsen, Brian Bilenberg and others on September 20, 2024. Major Estimate Revision • Aug 05
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$48.1b to NT$49.9b. EPS estimate increased from NT$13.39 to NT$14.74 per share. Net income forecast to grow 0.7% next year vs 32% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$177 to NT$181. Share price fell 3.4% to NT$171 over the past week. Reported Earnings • Jul 27
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: NT$3.87 (down from NT$4.80 in 2Q 2023). Revenue: NT$11.9b (up 1.1% from 2Q 2023). Net income: NT$1.80b (down 19% from 2Q 2023). Profit margin: 15% (down from 19% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Revenue is forecast to grow 1.1% 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, earnings per share has increased by 3% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jul 26
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$48.1b to NT$50.1b. EPS estimate increased from NT$13.39 to NT$15.44 per share. Net income forecast to shrink 4.5% next year vs 33% growth forecast for Semiconductor industry in Taiwan . Consensus price target broadly unchanged at NT$178. Share price fell 2.2% to NT$176 over the past week. Announcement • Jul 25
Radiant Opto-Electronics Corporation Announces the Resignation of Pen-Jan Wang as Chief Strategy Officer Radiant Opto-Electronics Corporation announced the resignation of Pen-Jan Wang as Chief Strategy Officer, effective from July 24, 2024. Reason for the change: personal health reasons. Announcement • Jul 18
Radiant Opto-Electronics Corporation to Report Q2, 2024 Results on Jul 25, 2024 Radiant Opto-Electronics Corporation announced that they will report Q2, 2024 results on Jul 25, 2024 Upcoming Dividend • Jun 18
Upcoming dividend of NT$10.00 per share Eligible shareholders must have bought the stock before 24 June 2024. Payment date: 19 July 2024. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 4.6%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.1%). Declared Dividend • Jun 08
Dividend of NT$10.00 announced Dividend of NT$10.00 is the same as last year. Ex-date: 24th June 2024 Payment date: 19th July 2024 Dividend yield will be 4.6%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 38% over the next 3 years. Since a fall of 20% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Announcement • Jun 08
Radiant Opto-Electronics Corporation Appoints Hung-Wen Lin to Remuneration Committee Radiant Opto-Electronics Corporation appointed Hung-Wen Lin to Remuneration Committee. Composition of Remuneration Committee: Tzi-Chen Huang, Lun-Pin Tseng, Jung-Yao Hsieh, Yao-Chung Chiang, Hung-Wen Lin.Resume of the new position holder: Tzi-Chen Huang/Chairman of I-Sheng Electric Wire & Cable Co., LTD., Lun-Pin Tseng/Vice President and CTO of EDOM Technology Co. Ltd., Jung-Yao Hsieh/Vice President of Kaohsiung Opto-Electronics Inc., Yao-Chung Chiang/Chairman of Taiwan High Speed Rail Corporation, Hung-Wen Lin/Chairman of the Ding Xun Electric Machinery Education Foundation. Reason for the change: term expired. Effective date of the new member is June 6, 2024. Original term is from July 30, 2021 to July 21, 2024. Reported Earnings • Apr 27
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: NT$4.18 (up from NT$1.58 in 1Q 2023). Revenue: NT$10.8b (up 17% from 1Q 2023). Net income: NT$1.94b (up 164% from 1Q 2023). Profit margin: 18% (up from 8.0% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 49%. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 26
Price target increased by 17% to NT$169 Up from NT$144, the current price target is an average from 6 analysts. New target price is 13% below last closing price of NT$195. Stock is up 72% over the past year. The company is forecast to post earnings per share of NT$13.01 for next year compared to NT$11.35 last year. Announcement • Apr 19
Radiant Opto-Electronics Corporation to Report Q1, 2024 Results on Apr 24, 2024 Radiant Opto-Electronics Corporation announced that they will report Q1, 2024 results on Apr 24, 2024 Price Target Changed • Mar 28
Price target increased by 11% to NT$144 Up from NT$129, the current price target is an average from 6 analysts. New target price is 17% below last closing price of NT$173. Stock is up 57% over the past year. The company is forecast to post earnings per share of NT$12.76 for next year compared to NT$11.35 last year. Announcement • Mar 28
Radiant Opto-Electronics Corporation Announces Cash Dividends for the Year Ended December 31, 2023 Radiant Opto-Electronics Corporation announced cash dividends to shareholders of TWD 10.00000000 per share for the year ended December 31, 2023. Cash distributed to shareholders of TWD 4,650,272,630. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$172, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 81% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$105 per share. Reported Earnings • Mar 03
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: NT$11.35 (down from NT$14.47 in FY 2022). Revenue: NT$44.1b (down 25% from FY 2022). Net income: NT$5.28b (down 22% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 7.7% 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, earnings per share has increased by 2% per year whereas the company’s share price has increased by 6% per year. Announcement • Mar 01
Radiant Opto-Electronics Corporation, Annual General Meeting, May 28, 2024 Radiant Opto-Electronics Corporation, Annual General Meeting, May 28, 2024. Location: B1, No.2, Central 2nd Rd., Qianzhen Dist Kaohsiung City Taiwan Agenda: To consider the Company's 2023 Business Report; to consider the Audit Committee's Review Report on the Company's 2023 Final Statements; to consider the Company's 2023 Distribution of Bonus to Directors and Employees; to consider the Company’s distribution of 2023 remuneration to directors; to consider recognition of the 2023 Business Report and Financial Report; to consider recognition of the 2023 Earnings Distribution; and to consider other related matters. Price Target Changed • Mar 01
Price target increased by 8.5% to NT$132 Up from NT$122, the current price target is an average from 6 analysts. New target price is 8.8% below last closing price of NT$145. Stock is up 35% over the past year. The company is forecast to post earnings per share of NT$13.26 for next year compared to NT$14.47 last year. New Risk • Oct 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.9% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 7.9% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Oct 27
Radiant Opto-Electronics Corporation Announces Change of Corporate Governance Officer Radiant Opto-Electronics Corporation announced the change of corporate governance officer. Name, title, and resume of the previous position holder: Ju-Yu Huang; Vice Director of Finance and Accounting Division. Name, title, and resume of the new position holder: Ching-Rong Wu; Senior Manager of Finance and Accounting Division. Type of the change: position adjustment. Reason for the change: To enhance corporate governance of the Company, a dedicated the corporate governance officer was appointed. Effective date is October 26, 2023. Major Estimate Revision • Aug 04
Consensus EPS estimates increase by 26%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from NT$50.3b to NT$48.1b. EPS estimate rose from NT$10.88 to NT$13.68. Net income forecast to grow 2.8% next year vs 11% decline forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$117 to NT$119. Share price rose 6.8% to NT$118 over the past week. Reported Earnings • Jul 29
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: NT$4.80 (up from NT$3.58 in 2Q 2022). Revenue: NT$11.8b (up 7.2% from 2Q 2022). Net income: NT$2.23b (up 34% from 2Q 2022). Profit margin: 19% (up from 15% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 98%. Revenue is expected to decline by 1.6% p.a. on average during the next 3 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 12%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jul 06
Radiant Opto-Electronics Corporation Appoints Pen-Jan Wang as Chief Strategy Officer Radiant Opto-Electronics Corporation announced the appointment of Pen-Jan Wang, Chairman as Chief Strategy Officer of the company. Effective date July 5, 2023. Upcoming Dividend • Jun 20
Upcoming dividend of NT$10.00 per share at 8.1% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 21 July 2023. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 8.1%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.1%). Announcement • Jun 09
Radiant Opto-Electronics Corporation Announces Cash Dividend, Payable on July 21, 2023 Radiant Opto-Electronics Corporation announced cash dividend of TWD 4,650,272,630 (TWD 10 for each common share). Ex-rights (ex-dividend) trading date is June 27, 2023; Ex-rights (ex-dividend) record date is July 03, 2023; Payment date of cash dividend distribution is July 21, 2023. Announcement • May 26
Radiant Opto-Electronics Corporation (TWSE:6176) acquired Nanocomp Oy Ltd for €14.5 million. Radiant Opto-Electronics Corporation (TWSE:6176) acquired Nanocomp Oy Ltd for €14.5 million on May 25, 2023.Pursuant to transaction, Radiant Opto-Electronics Corporation (TWSE:6176) acquired 1911 shares out of which 1,852 shares and 59 employee stock option certificates at €7587.65 each as a part of acquisition.
Radiant Opto-Electronics Corporation (TWSE:6176) completed the acquisition of Nanocomp Oy Ltd on May 25, 2023. Reported Earnings • Apr 29
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: NT$1.58 (down from NT$4.47 in 1Q 2022). Revenue: NT$9.25b (down 36% from 1Q 2022). Net income: NT$736.0m (down 65% from 1Q 2022). Profit margin: 8.0% (down from 14% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 8.8%. Revenue is expected to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 13%. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Feb 25
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: NT$14.47 (up from NT$11.16 in FY 2021). Revenue: NT$58.7b (up 3.1% from FY 2021). Net income: NT$6.73b (up 30% from FY 2021). Profit margin: 12% (up from 9.1% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is expected to decline by 3.5% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 8.1%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jan 06
Price target decreased to NT$111 Down from NT$121, the current price target is an average from 5 analysts. New target price is 9.6% above last closing price of NT$102. The company is forecast to post earnings per share of NT$14.12 for next year compared to NT$11.16 last year. Board Change • Nov 16
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. 1 experienced director. 8 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Jung-Yao Hsieh was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 01
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: NT$3.96 (up from NT$3.27 in 3Q 2021). Revenue: NT$18.0b (up 31% from 3Q 2021). Net income: NT$1.84b (up 21% from 3Q 2021). Profit margin: 10% (in line with 3Q 2021). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is expected to decline by 2.6% p.a. on average during the next 3 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 9.8%. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Buying Opportunity • Oct 25
Now 21% undervalued Over the last 90 days, the stock is up 5.1%. The fair value is estimated to be NT$118, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 2.9%. Revenue is forecast to grow by 3.0% in 2 years. Earnings is forecast to decline by 9.7% in the next 2 years. Reported Earnings • Jul 30
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: NT$3.57 (up from NT$2.24 in 2Q 2021). Revenue: NT$11.0b (down 21% from 2Q 2021). Net income: NT$1.66b (up 60% from 2Q 2021). Profit margin: 15% (up from 7.4% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) exceeded analyst estimates by 39%. Over the next year, revenue is forecast to grow 5.0%, compared to a 22% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 8% per year. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$86.70, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$134 per share. Upcoming Dividend • Jun 17
Upcoming dividend of NT$8.00 per share Eligible shareholders must have bought the stock before 24 June 2022. Payment date: 22 July 2022. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 7.6%. Within top quartile of Taiwanese dividend payers (6.1%). Higher than average of industry peers (3.3%). Major Estimate Revision • May 05
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$56.2b to NT$58.5b. EPS estimate increased from NT$12.26 to NT$13.52 per share. Net income forecast to grow 12% next year vs 22% growth forecast for Semiconductor industry in Taiwan. Consensus price target broadly unchanged at NT$120. Share price was steady at NT$104 over the past week. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$4.47 (up from NT$3.58 in 1Q 2021). Revenue: NT$14.4b (up 2.2% from 1Q 2021). Net income: NT$2.08b (up 25% from 1Q 2021). Profit margin: 14% (up from 12% in 1Q 2021). Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) also surpassed analyst estimates by 41%. Over the next year, revenue is forecast to grow 1.1%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. 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. 1 experienced director. 8 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Jung-Yao Hsieh was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 08
Radiant Opto-Electronics Corporation Announces the Appropriations of Earnings in Cash Dividends for the Year Ended December 31, 2021 Radiant Opto-Electronics Corporation announced the appropriations of earnings in cash dividends to shareholders of TWD 8.0 per share for the year ended December 31, 2021. Total amount of cash distributed to shareholders is TWD 3,720,218,104. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: NT$56.9b (up 1.5% from FY 2020). Net income: NT$5.19b (flat on FY 2020). Profit margin: 9.1% (down from 9.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 2.0% compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Feb 27
Radiant Opto-Electronics Corporation, Annual General Meeting, May 26, 2022 Radiant Opto-Electronics Corporation, Annual General Meeting, May 26, 2022, at 09:30 Taipei Standard Time. Location: B1, No. 2, Central 2nd Rd., Qianzhen Dist., Kaohsiung City, Taiwan (R.O.C.) Kaohsiung City Taiwan Reported Earnings • Aug 01
Second quarter 2021 earnings released: EPS NT$2.24 (vs NT$3.74 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$14.0b (down 7.9% from 2Q 2020). Net income: NT$1.04b (down 40% from 2Q 2020). Profit margin: 7.4% (down from 11% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 16
Upcoming dividend of NT$8.00 per share Eligible shareholders must have bought the stock before 23 July 2021. Payment date: 24 August 2021. Trailing yield: 6.3%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.1%). Announcement • Apr 29
Radiant Opto-Electronics Corp. Announces Cash Dividend for the Year Ended December 31, 2020 Radiant Opto-Electronics Corp. announced a cash dividend of TWD 3,720,218,104 or TWD 8.0 per share for the year ended December 31, 2020. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS NT$3.58 (vs NT$1.54 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$14.1b (up 64% from 1Q 2020). Net income: NT$1.67b (up 133% from 1Q 2020). Profit margin: 12% (up from 8.3% 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 14% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 15
New 90-day high: NT$124 The company is up 10.0% from a price of NT$113 on 15 December 2020. Underperformed the Taiwanese market, which is up 14% over the last 90 days. Lagged the Semiconductor industry, which is up 20% over the same period. Simply Wall St's valuation model estimates the intrinsic value at NT$94.40 per share. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 3.1%. Over the next year, revenue is forecast to stay flat compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS NT$11.24 (vs NT$12.62 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: NT$56.1b (flat on FY 2019). Net income: NT$5.23b (down 11% from FY 2019). Profit margin: 9.3% (down from 11% in FY 2019). Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. 
