Acer Inc (宏碁) chief executive officer Jason Chen (陳俊聖) and other senior executives at the firm last month continued to purchase company shares to show confidence in the PC vendor, Acer’s filings with the Taiwan Stock Exchange showed.
The move came as the company’s PC shipments in the second quarter increased 17.6 percent year-on-year, the largest growth among the world’s top five PC vendors, data released by the company and International Data Corp (IDC) showed last week.
Revenue last quarter increased 21.7 percent year-on-year to NT$79.78 billion (US$2.85 billion), the highest for the period in 10 years, the data showed.
Photo: CNA
Acer has over the past few years developed a corporate culture that encourages ranking officials to buy company shares to express confidence in its products.
Acer founder Stan Shih (施振榮) in 2016 said that ownership in the company would make executives feel responsible for the firm’s long-term development instead of operating the company with a short-term view.
The exchange filing showed that Chen and 10 other executives last month purchased a total of 1.067 million Acer shares at an average price of NT$31.31 per share, spending about NT$33.38 million.
Chen bought 150,000 shares, in addition to 750,000 shares he bought earlier this year, it showed.
Acer shares closed up 0.72 percentage points at NT$27.9 in Taipei trading on Friday.
Shares have gained 17.97 percent so far this year, compared with a 21.47 percent increase in the TAIEX.
Diversification efforts over the past few years have borne fruit for Acer, with stable sales and earnings contributions from investments, while its new products, including 5G laptops, Chromebooks, Predator gaming PCs and products of the ConceptD content creator series, also help it compete with other major brands.
In the second quarter, Acer shipped 6.09 million units worldwide, boosting its market share to 7.3 percent, and helping it become the world’s fifth-largest supplier, IDC said in a report on Monday last week.
Global PC shipments — including desktops, laptops and workstations — reached 83.6 million units, up 13.2 percent from a year earlier, despite global component shortages and logistics issues, the report said.
Shares of contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came under pressure yesterday after a report that Apple Inc is looking to shift some orders from the Taiwanese company to Intel Corp. TSMC shares fell NT$55, or 2.4 percent, to close at NT$2,235 on the local main board, Taiwan Stock Exchange data showed. Despite the losses, TSMC is expected to continue to benefit from sound fundamentals, as it maintains a lead over its peers in high-end process development, analysts said. “The selling was a knee-jerk reaction to an Intel-Apple report over the weekend,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to remain Apple Inc’s primary chip manufacturing partner despite reports that Apple could shift some orders to Intel Corp, industry experts said yesterday. The comments came after The Wall Street Journal reported on Friday that Apple and Intel had reached a preliminary agreement following more than a year of negotiations for Intel to manufacture some chips for Apple devices. Taiwan Institute of Economic Research (台灣經濟研究院) economist Arisa Liu (劉佩真) said TSMC’s advanced packaging technologies, including integrated fan-out and chip-on-wafer-on-substrate, remain critical to the performance of Apple’s A-series and M-series chips. She said Intel and Samsung
TRANSITION: With the closure, the company would reorganize its Taiwanese unit to a sales and service-focused model, Bridgestone said Bridgestone Corp yesterday announced it would cease manufacturing operations at its tire plant in Hsinchu County’s Hukou Township (湖口), affecting more than 500 workers. Bridgestone Taiwan Co (台灣普利司通) said in a statement that the decision was based on the Tokyo-based tire maker’s adjustments to its global operational strategy and long-term market development considerations. The Taiwanese unit would be reorganized as part of the closure, effective yesterday, and all related production activities would be concluded, the statement said. Under the plan, Bridgestone would continue to deepen its presence in the Taiwanese market, while transitioning to a sales and service-focused business model, it added. The Hsinchu
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has approved a capital budget of US$31.28 billion for production expansion to meet long-term development needs during the artificial intelligence (AI) boom. The company’s board meeting yesterday approved the capital appropriation plan for purposes such as the installation of advanced technology capacity and fab construction, the world’s largest contract chipmaker said in a statement. At an earnings conference last month, TSMC forecast that its capital expenditure for this year would be at the higher end of the US$52 billion to US$56 billion range it forecast in January in response to robust demand for 5G, AI and
RSS