Silitech Technology Corp (閎暉), the supplier of cellphone keypads to Nokia Oyj, surged by its daily limit for the second day as brokerages upgraded their target prices for the company.
Silitech jumped 6.7 percent to NT$104.50 at the close of Taipei trading, the highest since May 6 last year. Goldman Sachs Group Inc, Bank of America Corp’s Merrill Lynch unit and Macquarie Group Ltd increased their 12-month estimates on the stock. Nomura Holdings Inc raised its price target on Monday.
Goldman Sachs hoisted its target price 38 percent to NT$113 and kept the company at “neutral.” It said preliminary pretax income of NT$541 million beat the brokerage’s forecast by 40 percent to 50 percent on stronger-than-expected gross margins from improving factory use and production rates as well as from a greater focus on QWERTY keypads.
“We see the QWERTY keypad as the most important revenue and margin driver for Silitech as smartphone penetration increases,” Goldman Sachs wrote in a note.
Merrill Lynch upgraded its price estimate on the stock to NT$125 from NT$105, while keeping the company at “buy” and Macquarie Group Ltd increased its 12-month estimate to NT$130 from NT$100, maintaining an “outperform” rating.
Goldman said Silitech’s market-share gain could slow next year as the use of touch-screen smartphones increased. Nomura forecast global penetration of phones with touch-screen panels — such as Apple Inc’s iPhones, Palm Inc’s Pre phone and Research in Motion Ltd’s Storm handset — would rise to 20 percent next year from 15 percent this year.
GROWING CONCERN: Some senior Trump administration officials opposed the UAE expansion over fears that another TSMC project could jeopardize its US investment Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is evaluating building an advanced production facility in the United Arab Emirates (UAE) and has discussed the possibility with officials in US President Donald Trump’s administration, people familiar with the matter said, in a potentially major bet on the Middle East that would only come to fruition with Washington’s approval. The company has had multiple meetings in the past few months with US Special Envoy to the Middle East Steve Witkoff and officials from MGX, an influential investment vehicle overseen by the UAE president’s brother, the people said. The conversations are a continuation of talks that
With an approval rating of just two percent, Peruvian President Dina Boluarte might be the world’s most unpopular leader, according to pollsters. Protests greeted her rise to power 29 months ago, and have marked her entire term — joined by assorted scandals, investigations, controversies and a surge in gang violence. The 63-year-old is the target of a dozen probes, including for her alleged failure to declare gifts of luxury jewels and watches, a scandal inevitably dubbed “Rolexgate.” She is also under the microscope for a two-week undeclared absence for nose surgery — which she insists was medical, not cosmetic — and is
Nintendo Co hopes to match the runaway success of the Switch when its leveled-up new console hits shelves on Thursday, with strong early sales expected despite the gadget’s high price. Featuring a bigger screen and more processing power, the Switch 2 is an upgrade to its predecessor, which has sold 152 million units since launching in 2017 — making it the third-best-selling video game console of all time. However, despite buzz among fans and robust demand for pre-orders, headwinds for Nintendo include uncertainty over US trade tariffs and whether enough people are willing to shell out. The Switch 2 “is priced relatively high”
Alchip Technologies Ltd (世芯), an application-specific integrated circuit (ASIC) designer specializing in artificial-intelligence (AI) chips, yesterday said that small-volume production of 3-nanometer (nm) chips for a key customer is on track to start by the end of this year, dismissing speculation about delays in producing advanced chips. As Alchip is transitioning from 7-nanometer and 5-nanometer process technology to 3 nanometers, investors and shareholders have been closely monitoring whether the company is navigating through such transition smoothly. “We are proceeding well in [building] this generation [of chips]. It appears to me that no revision will be required. We have achieved success in designing
RSS