Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to NT$44.75, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 24x in the Semiconductor industry in Taiwan. Total loss to shareholders of 29% over the past three years. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: NT$0.30 (vs NT$0.40 in 1Q 2025) First quarter 2026 results: EPS: NT$0.30 (down from NT$0.40 in 1Q 2025). Revenue: NT$825.6m (up 8.5% from 1Q 2025). Net income: NT$68.4m (down 24% from 1Q 2025). Profit margin: 8.3% (down from 12% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average 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 54% 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. New Risk • Apr 30
New major risk - Revenue and earnings growth Earnings have declined by 63% 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 63% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Tillkännagivande • Mar 06
Holtek Semiconductor Inc., Annual General Meeting, May 25, 2026 Holtek Semiconductor Inc., Annual General Meeting, May 25, 2026, at 09:00 Taipei Standard Time. Location: no,3, yen hsin 2nd rd., hsinchu science park, hsinchu city Taiwan Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$56.50, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 23x in the Semiconductor industry in Taiwan. Total loss to shareholders of 19% over the past three years. New Risk • Feb 10
New major risk - Revenue and earnings growth Earnings have declined by 55% 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 55% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.2% average weekly change). Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$44.20, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 25x in the Semiconductor industry in Taiwan. Total loss to shareholders of 32% over the past three years. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: NT$0.12 (vs NT$0.32 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.12 (up from NT$0.32 loss in 3Q 2024). Revenue: NT$754.1m (up 10% from 3Q 2024). Net income: NT$27.1m (up NT$99.8m from 3Q 2024). Profit margin: 3.6% (up from net loss in 3Q 2024). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 21% 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, 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 • Jul 31
Second quarter 2025 earnings released: EPS: NT$0.099 (vs NT$0.15 loss in 2Q 2024) Second quarter 2025 results: EPS: NT$0.099 (up from NT$0.15 loss in 2Q 2024). Revenue: NT$860.0m (up 26% from 2Q 2024). Net income: NT$22.3m (up NT$56.4m from 2Q 2024). Profit margin: 2.6% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Revenue is expected to decline by 2.5% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 13%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Tillkännagivande • May 29
Holtek Semiconductor Inc. Approves the Election of Yu, Kuo-Cheng as Director Holtek Semiconductor Inc. at 2025 Annual Shareholders' Meeting held on May 28, 2025, approved the election of Mr. Yu, Kuo-Cheng as Director. Tillkännagivande • Apr 18
Holtek Semiconductor Inc. to Report Q1, 2025 Results on Apr 28, 2025 Holtek Semiconductor Inc. announced that they will report Q1, 2025 results on Apr 28, 2025 Tillkännagivande • Mar 08
Holtek Semiconductor Inc. announced a financing transaction Holtek Semiconductor Inc. announced a private placement of 10,000,000 ordinary shares on March 6, 2025. The transaction has been approved by the board of directors of the company. Tillkännagivande • Mar 07
Holtek Semiconductor Inc., Annual General Meeting, May 28, 2025 Holtek Semiconductor Inc., Annual General Meeting, May 28, 2025. Location: no,3, yen hsin 2nd rd., hsinchu science park, hsinchu city Taiwan Reported Earnings • Feb 12
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: NT$0.66 loss per share (down from NT$0.49 profit in FY 2023). Revenue: NT$2.50b (down 3.6% from FY 2023). Net loss: NT$149.6m (down 234% from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.2%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jan 23
Holtek Semiconductor Inc. to Report Fiscal Year 2024 Results on Feb 10, 2025 Holtek Semiconductor Inc. announced that they will report fiscal year 2024 results on Feb 10, 2025 New Risk • Dec 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 6.1% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 05
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: NT$0.32 loss per share (down from NT$0.16 profit in 3Q 2023). Revenue: NT$683.3m (up 8.2% from 3Q 2023). Net loss: NT$72.7m (down 299% from profit in 3Q 2023). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 36% p.a. on average during the next 2 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 76 percentage points per year, which is a significant difference in performance. Tillkännagivande • Oct 19
Holtek Semiconductor Inc. to Report Q3, 2024 Results on Oct 29, 2024 Holtek Semiconductor Inc. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 03
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: NT$0.15 loss per share (down from NT$0.25 profit in 2Q 2023). Revenue: NT$682.6m (down 4.6% from 2Q 2023). Net loss: NT$34.2m (down 161% from profit in 2Q 2023). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 32% 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, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 02
Price target decreased by 10% to NT$60.00 Down from NT$67.00, the current price target is an average from 2 analysts. New target price is 19% above last closing price of NT$50.60. Stock is down 26% over the past year. The company is forecast to post a net loss per share of NT$0.33 compared to earnings per share of NT$0.49 last year. New Risk • Aug 01
New major risk - Revenue and earnings growth Earnings have declined by 9.9% 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 9.9% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (1.3% net profit margin). Major Estimate Revision • Aug 01
Consensus EPS estimates increase by 106%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from NT$2.88b to NT$2.76b. EPS estimate rose from NT$0.18 to NT$0.37. Net income forecast to grow 416% next year vs 33% growth forecast for Semiconductor industry in Taiwan. Consensus price target of NT$65.00 unchanged from last update. Share price fell 7.6% to NT$53.20 over the past week. Tillkännagivande • Jul 30
Holtek Semiconductor Inc. Announces Committee Changes On July 29, 2024, Holtek Semiconductor Inc. announced committee changes. .Name of the functional committees is Compensation Committee. Name of the previous position holder is Mr. Tsou, Ping-Fang. Resume of the previous position holder is President, Holtek Semiconductor(Suzhou) Inc. Name of the new position holder is Ms. Li, Pei-Ying .Resume of the new position holder is Eternity Law Firm Hsinchu Branch Managing Attorney-at-law. Circumstance of change is resignation. Original term is From May 24, 2022 to May 23, 2025. Effective date of the new member is July 29, 2024. Because of the resignation of Compensation Committee member Tsou, Ping-Fang, the Board of Directors appoint a new member subject to relevant regulations. Tillkännagivande • Jul 19
Holtek Semiconductor Inc. to Report Q2, 2024 Results on Jul 29, 2024 Holtek Semiconductor Inc. announced that they will report Q2, 2024 results on Jul 29, 2024 Tillkännagivande • May 31
Holtek Semiconductor Inc. Appoints Ms. Li, Pei-Ying as Independent Director Holtek Semiconductor Inc. approved the appointment of Independent Director, Ms. Li, Pei-Ying, at its shareholders meeting held on May 29, 2024. Resume of the new position holder: Eternity Law Firm Hsinchu Branch Managing Attorney-at-law. Tillkännagivande • May 30
Holtek Semiconductor Inc. Appoints Li, Pei-Ying as A Member of Audit Committee Holtek Semiconductor Inc. announced the appointment of Ms. Li, Pei-Ying as a member of Audit Committee. Resume of the new position holder: Eternity Law Firm Hsinchu Branch Managing Attorney-at-law. Effective date of the new member: May 29, 2024. Reported Earnings • May 03
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: NT$0.20 loss per share (down from NT$0.16 profit in 1Q 2023). Revenue: NT$443.5m (down 42% from 1Q 2023). Net loss: NT$45.3m (down 223% from profit in 1Q 2023). Revenue missed analyst estimates by 8.0%. Earnings per share (EPS) exceeded analyst estimates by 62%. Revenue is forecast to grow 34% 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 fallen by 59% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Major Estimate Revision • May 03
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$2.98b to NT$2.87b. Now expected to report a loss of NT$0.39 per share instead of NT$0.083 per share profit previously forecast. Semiconductor industry in Taiwan expected to see average net income growth of 33% next year. Consensus price target up from NT$64.67 to NT$68.00. Share price was steady at NT$58.90 over the past week. Buy Or Sell Opportunity • Apr 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to NT$55.90. The fair value is estimated to be NT$70.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to grow by 58% in 2 years. Earnings are forecast to grow by 441% in the next 2 years. Buy Or Sell Opportunity • Mar 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to NT$55.30. The fair value is estimated to be NT$69.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to grow by 58% in 2 years. Earnings are forecast to grow by 441% in the next 2 years. Tillkännagivande • Mar 08
Holtek Semiconductor Inc., Annual General Meeting, May 29, 2024 Holtek Semiconductor Inc., Annual General Meeting, May 29, 2024. Location: No.1, Gongye E. 2nd Rd East Dist Hsinchu City Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committee's review report; to consider 2023 employee bonuses and directors' remuneration; to consider Report on the endorsement and guarantee of the Company and its subsidiaries in 2023; and to consider other matters, if any. Major Estimate Revision • Feb 05
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$3.51b to NT$2.98b. EPS estimate fell from NT$1.03 to NT$0.083 per share. Net income forecast to shrink 83% next year vs 21% growth forecast for Semiconductor industry in Taiwan . Consensus price target of NT$64.67 unchanged from last update. Share price was steady at NT$61.00 over the past week. Reported Earnings • Jan 31
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: NT$0.49 (down from NT$4.89 in FY 2022). Revenue: NT$2.60b (down 57% from FY 2022). Net income: NT$111.7m (down 90% from FY 2022). Profit margin: 4.3% (down from 18% in FY 2022). Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) exceeded analyst estimates by 5.0%. Revenue is forecast to grow 19% 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 fallen by 40% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Tillkännagivande • Dec 08
Holtek Semiconductor Inc. Announces Change of President, Effective January 1, 2024 Holtek Semiconductor Inc. announced the change of president. Name of the previous position holder: Mr. Gau, Kuo-Tung, Resume of the previous position holder: President, HOLTEK Semiconductor Inc. Name of the new position holder: Mr. Tsai, Jung-Tsung, Resume of the new position holder: Vice President of Sales & Marketing Center, HOLTEK Semiconductor Inc. Effective date of the new appointment is January 1, 2024. Reported Earnings • Oct 31
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: NT$0.16 (down from NT$0.99 in 3Q 2022). Revenue: NT$631.3m (down 53% from 3Q 2022). Net income: NT$36.5m (down 84% from 3Q 2022). Profit margin: 5.8% (down from 17% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 32%. Revenue is forecast to grow 24% 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 fallen by 21% 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. Major Estimate Revision • Aug 09
Consensus revenue estimates fall by 18% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$3.65b to NT$3.00b. EPS estimate fell from NT$1.87 to NT$0.925 per share. Net income forecast to grow 29% next year vs 6.0% decline forecast for Semiconductor industry in Taiwan. Consensus price target broadly unchanged at NT$64.50. Share price was steady at NT$67.80 over the past week. Upcoming Dividend • Aug 09
Upcoming dividend of NT$4.00 per share at 5.9% yield Eligible shareholders must have bought the stock before 16 August 2023. Payment date: 07 September 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.9%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.3%). Reported Earnings • Aug 01
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: NT$0.25 (down from NT$1.57 in 2Q 2022). Revenue: NT$715.7m (down 57% from 2Q 2022). Net income: NT$56.1m (down 84% from 2Q 2022). Profit margin: 7.8% (down from 21% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 8.8% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Semiconductor 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 2% per year. New Risk • Jun 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.2% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 118% Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 7.2% per year for the foreseeable future. High level of non-cash earnings (40% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (13% net profit margin). Tillkännagivande • May 25
Holtek Semiconductor Inc. Announces Board Changes Holtek Semiconductor Inc. approved the appointment of Mr. Wang, Min-Kun, Vice President of Product Center, Holtek Semiconductor Inc. as Director in place of Mr. Wang, Jen-Chung. Effective date of the new appointment is May 29, 2023. Original term is May 24, 2022 to May 23, 2025. Reason for the change: By-election. Major Estimate Revision • May 04
Consensus revenue estimates decrease by 13% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from NT$5.38b to NT$4.71b. EPS estimate unchanged from NT$3.92 per share at last update. Semiconductor industry in Taiwan expected to see average net income decline 22% next year. Consensus price target of NT$61.67 unchanged from last update. Share price was steady at NT$67.50 over the past week. Reported Earnings • Feb 22
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: NT$4.89 (down from NT$9.04 in FY 2021). Revenue: NT$6.02b (down 16% from FY 2021). Net income: NT$1.11b (down 46% from FY 2021). Profit margin: 18% (down from 29% in FY 2021). 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 15%. Revenue is forecast to stay flat during the next 2 years compared to a 8.1% growth forecast for the Semiconductor industry in Taiwan. 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 4% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target decreased to NT$70.00 Down from NT$84.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$73.10. Stock is down 35% over the past year. The company is forecast to post earnings per share of NT$5.73 for next year compared to NT$9.04 last year. Board Change • Nov 16
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. 6 non-independent directors. Independent Director Jui-Ting Hsu was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 07
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$6.79b to NT$6.26b. EPS estimate also fell from NT$6.67 per share to NT$5.73 per share. Net income forecast to shrink 33% next year vs 7.2% decline forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$84.00 to NT$70.00. Share price was steady at NT$66.00 over the past week. Reported Earnings • Nov 03
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: NT$0.99 (down from NT$3.17 in 3Q 2021). Revenue: NT$1.35b (down 37% from 3Q 2021). Net income: NT$224.4m (down 69% from 3Q 2021). Profit margin: 17% (down from 34% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 29%. Revenue is forecast to stay flat during the next 3 years compared to a 9.9% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buying Opportunity • Oct 11
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be NT$80.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to decline by 11% in 2 years. Earnings is forecast to decline by 38% in the next 2 years. Buying Opportunity • Sep 05
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be NT$90.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to decline by 11% in 2 years. Earnings is forecast to decline by 38% in the next 2 years. Upcoming Dividend • Aug 02
Upcoming dividend of NT$8.12 per share Eligible shareholders must have bought the stock before 09 August 2022. Payment date: 30 August 2022. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 10%. Within top quartile of Taiwanese dividend payers (6.6%). Higher than average of industry peers (3.6%). Major Estimate Revision • Aug 01
Consensus revenue estimates fall by 14% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from NT$7.93b to NT$6.79b. EPS estimate fell from NT$8.30 to NT$6.67 per share. Net income forecast to shrink 33% next year vs 7.9% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$105 to NT$84.00. Share price fell 6.7% to NT$80.30 over the past week. Price Target Changed • Jul 26
Price target decreased to NT$90.67 Down from NT$110, the current price target is an average from 2 analysts. New target price is 14% above last closing price of NT$79.30. Stock is down 42% over the past year. The company is forecast to post earnings per share of NT$6.70 for next year compared to NT$9.04 last year. 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 not an independent director. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Tai-Haur Kuo was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Tillkännagivande • Mar 06
Holtek Semiconductor Inc., Annual General Meeting, May 24, 2022 Holtek Semiconductor Inc., Annual General Meeting, May 24, 2022. Location: Edison, HSP link (No.1, Gongye E. 2nd Rd., East Dist., Hsinchu City Hsinchu City Taiwan Agenda: To consider 2021 Business Report; to consider Audit Committee's review report; to consider 2021 employee bonuses and directors' remuneration; to consider Adoption of the 2021 Business Report and Financial Statements; to consider Adoption of the 2021 earnings distribution; to consider Election of the 9th term Directors (including independent directors; to consider Amendment to the Procedures for Acquisition or Disposal of Assets and Financial Derivatives Transactions; and to consider other matters. Reported Earnings • Jan 28
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$9.04 (up from NT$4.56 in FY 2020). Revenue: NT$7.13b (up 27% from FY 2020). Net income: NT$2.04b (up 98% from FY 2020). Profit margin: 29% (up from 18% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 12%, compared to a 25% growth forecast for the industry in Taiwan. 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 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS NT$3.17 (vs NT$1.27 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$2.12b (up 41% from 3Q 2020). Net income: NT$716.1m (up 149% from 3Q 2020). Profit margin: 34% (up from 19% 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 16% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 03
Upcoming dividend of NT$4.56 per share Eligible shareholders must have bought the stock before 10 August 2021. Payment date: 27 August 2021. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.1%). Reported Earnings • Jul 28
Second quarter 2021 earnings released: EPS NT$2.26 (vs NT$1.05 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.67b (up 18% from 2Q 2020). Net income: NT$513.1m (up 115% from 2Q 2020). Profit margin: 31% (up from 17% in 2Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jul 28
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from NT$7.10 to NT$8.20. Revenue forecast steady at NT$6.95b. Net income forecast to grow 55% next year vs 40% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$120 to NT$146. Share price fell 5.9% to NT$136 over the past week. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 21% share price gain to NT$121, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 101% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$116 per share. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improved over the past week After last week's 15% share price gain to NT$110, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$115 per share. Major Estimate Revision • May 02
Consensus EPS estimates increase to NT$7.08 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from NT$6.78b to NT$6.96b. EPS estimate increased from NT$5.40 to NT$7.08 per share. Net income forecast to grow 31% next year vs 35% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$84.75 to NT$112. Share price rose 3.7% to NT$103 over the past week. Reported Earnings • Apr 27
First quarter 2021 earnings released: EPS NT$1.54 (vs NT$0.65 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.46b (up 42% from 1Q 2020). Net income: NT$347.2m (up 138% from 1Q 2020). Profit margin: 24% (up from 14% 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 1% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Tillkännagivande • Mar 05
Holtek Semiconductor Inc., Annual General Meeting, May 25, 2021 Holtek Semiconductor Inc., Annual General Meeting, May 25, 2021. Location: Edison, HSP link (No.1, Gongye E. 2nd Rd., East Dist. Hsinchu City 300 Hsin Chu City Taiwan Agenda: To adopt the 2020 Business Report and Financial Statements ; to adopt the 2020 earnings distribution ; to propose the distribution of cash dividends from legal reserve ; to amend the Rules Governing and Procedures for Shareholder's Meeting of the Company ; and to permit directors to engage in competitive conduct. Is New 90 Day High Low • Feb 20
New 90-day high: NT$88.40 The company is up 22% from its price of NT$72.30 on 20 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 35% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$112 per share. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improved over the past week After last week's 16% share price gain to NT$82.40, the stock is trading at a trailing P/E ratio of 18.1x, up from the previous P/E ratio of 15.6x. This compares to an average P/E of 27x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 32%. Major Estimate Revision • Feb 07
Analysts increase revenue estimates to NT$6.78b The 2021 consensus revenue estimate increased from NT$5.75b. Earning per share (EPS) estimate also increased from NT$4.47 to NT$5.40 for the same period. Net income is expected to grow by 18% next year compared to 36% growth forecast for the Semiconductor industry in Taiwan. The consensus price target increased from NT$75.67 to NT$84.75. Share price is up 16% to NT$82.40 over the past week. Price Target Changed • Feb 03
Price target raised to NT$81.67 Up from NT$75.67, the current price target is an average from 5 analysts. The new target price is close to the current share price of NT$78.20. As of last close, the stock is up 14% over the past year. Is New 90 Day High Low • Feb 03
New 90-day high: NT$78.20 The company is up 13% from its price of NT$69.30 on 05 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 37% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$110 per share. Reported Earnings • Feb 02
Full year 2020 earnings released: EPS NT$4.56 (vs NT$4.05 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: NT$5.61b (up 23% from FY 2019). Net income: NT$1.03b (up 13% from FY 2019). Profit margin: 18% (down from 20% in FY 2019). The decrease in margin was driven by higher expenses. 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. Analyst Estimate Surprise Post Earnings • Feb 02
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 6.6%. Over the next year, revenue is forecast to grow 2.4%, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Is New 90 Day High Low • Dec 04
New 90-day high: NT$73.50 The company is up 15% from its price of NT$63.80 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$44.44 per share. Is New 90 Day High Low • Nov 16
New 90-day high: NT$71.10 The company is up 7.0% from its price of NT$66.20 on 18 August 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$44.80 per share. Analyst Estimate Surprise Post Earnings • Oct 27
Third-quarter earnings released: Revenue and earnings beat expectations Third-quarter revenue exceeded analyst estimates by 14% at NT$1.51b. Earnings per share (EPS) also surpassed analyst estimates by 15% at NT$1.26. Revenue is forecast to grow 2.2% over the next year, compared to a 13% growth forecast for the Semiconductor industry in Taiwan. Reported Earnings • Oct 27
Third quarter earnings released Over the last 12 months the company has reported total profits of NT$906.5m, down 3.9% from the prior year. Total revenue was NT$5.18b over the last 12 months, up 14% from the prior year. Is New 90 Day High Low • Sep 25
New 90-day low: NT$63.10 The company is down 6.0% from its price of NT$67.40 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$49.33 per share.