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SPIL stock climbs on Intel’s Q1 sales

Siliconware Precision Industries Co (SPIL, 矽品精密), the nation’s second-largest chip tester and packager, saw its shares rise yesterday after Intel Corp said its sales this quarter might top analyst estimates, signaling a stable semiconductor industry despite US slowdown concerns.

SPIL shares advanced 3.43 percent to close at NT$54.3 on the Taiwan Stock Exchange.

The US chip giant’s better-than-expected outlook for the current quarter was a positive sign for some local semiconductor companies, including SPIL, Citi Investment Research said in a report released yesterday.

“We see Intel’s guidance of 1 [percent to]-7 percent quarter-on-quarter sales decline in the second quarter of 2008, excluding NOR flash sales, as a moderate decline,” Citigroup analyst Andrew Lu (陸行之) said in the report.

Lu offered a “buy” recommendation on SPIL stock and maintained his “overweight” rating on the chip testing and packaging sector.

He also reiterated his “buy” on several PC-related IC designers, as stable demand of central processor units from Intel echoed the recent strength seen at PC-related IC designers, the report said.

But Lu kept a neutral weighting on substrate sector.

Also See: Intel Q1 profit hits Wall Street forecast
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