Synnex Technology International Corp (聯強國際) and MiTAC Holdings Corp (神達控股) on Wednesday sold a combined 800,000 shares of the NYSE-listed Synnex Corp (SNX) at US$130.3 per share, taking profit from the latter’s share price surge over the past year.
SNX, previously named Compac Microelectronics Inc, was founded in 1980 and is headquartered in Fremont, California. The company distributes IT products and provides customer care outsourced services.
Synnex and MiTAC invested in the company in 1992 and renamed it SNX in 1994.
Shares in SNX have risen 12.58 percent in the past year. The stock hit US$140.69 on Jan. 9, the highest price in the company’s history, NYSE data showed.
Synnex, a Taiwanese electronics distributor, and MiTAC, a manufacturer of server products, mobile devices and terminal products, are listed companies under the MiTAC-Synnex Group (聯華神通集團). Other listed members include UPC Technology Corp (聯成化學科技), Lien Hwa Industrial Corp (聯華實業) and Getac Technology Corp (神基科技).
Synnex said in a filing with the Taiwan Stock Exchange on Thursday that selling 349,000 SNX shares for US$45 million would result in a disposal gain of US$25.6 million, which would translate into about NT$740 million (US$25.14 million) in earnings this quarter, or NT$0.44 per share.
MiTAC said in a separate filing that it sold 451,000 SNX shares for US$58.76 million.
The company said it is expected to book a disposal gain of US$32.84 million, or NT$1.75 billion, representing a contribution of NT$1.2 per share.
After the share sale, Synnex holds 3.86 million shares, or a 0.94 percent stake, in SNX, while MiTAC owns 4.99 million shares, or a 12.51 percent stake, in the firm.
Shares of Synnex rose 0.24 percent to NT$41.95 and MiTAC gained 1.63 percent to NT$34.35 on Friday in Taipei trading.
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said second-quarter revenue is expected to surpass the first quarter, which rose 30 percent year-on-year to NT$118.92 billion (US$3.71 billion). Revenue this quarter is likely to grow, as US clients have front-loaded orders ahead of US President Donald Trump’s planned tariffs on Taiwanese goods, Delta chairman Ping Cheng (鄭平) said at an earnings conference in Taipei, referring to the 90-day pause in tariff implementation Trump announced on April 9. While situations in the third and fourth quarters remain unclear, “We will not halt our long-term deployments and do not plan to
TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. However, while these “revelations” are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content creators who portray themselves as workers or subcontractors in the luxury goods business claim that Beijing has lifted confidentiality clauses on local subcontractors as a way to respond to the huge hike in customs duties imposed on China by US President Donald Trump. They say this Chinese decision, of which Agence
RSS