External broker reports(aggregated public sources), Capital Securities Corp

Capital Securities

External broker reports(aggregated public sources)

Capital Securities Corp

Capital Securities provides clients with investment services covering diversified financial products. We have outstanding business performance amid intense competition in the domestic securities market. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

United Microelectronics Corp / Equity Bottom-Up

<p>100% capacity utilization rate; reiterate BUY with TP of NTD74. UMC’s growth momentum may come from 5G, IoT and EV in FY22. In particular, higher shipments of PMIC, transceiver/switch and OLED driver IC and demand for more sensors and controllers in multi-lens handset may boost UMC’s sales. UMC revised up FY22 foundry growth to +20% YoY. FY22 EPS is estimated at NTD6.03. Due to UMC’s 100% capacity utilization rate and higher ASP/earnings, we reiterate BUY with TP of NTD74.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

100% capacity utilization rate; reiterate BUY with TP of NTD74. UMC’s growth momentum may come from 5G, IoT and EV in FY22. In particular, higher shipments of PMIC, transceiver/switch and OLED driver IC and demand for more sensors and controllers in multi-lens handset may boost UMC’s sales. UMC revised up FY22 foundry growth to +20% YoY. FY22 EPS is estimated at NTD6.03. Due to UMC’s 100% capacity utilization rate and higher ASP/earnings, we reiterate BUY with TP of NTD74.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Taiwan

ASE Technology Holding Co., Ltd. offers assembly and testing services. The Company provides outsourced assembly, semiconductor testing, semiconductor packaging, and other related services. ASE Technology Holding operates in Taiwan.

United Microelectronics Corporation designs, manufactures, and markets integrated circuits (ICs) and related electronic products.  The Company's main products are consumer electronic ICs, memory ICs, personal computer peripheral ICs, and communication ICs.

Realtek Semiconductor Corp. designs, tests, and distributes integrated circuits which are used in consumer electronics, computer systems and peripherals, and communication network hardware.  The Company also provides technical counseling and systems software services.

Novatek Microelectronics Corporation designs, manufactures, and markets integrated circuits (ICs).  The Company's products are used in telecommunication, computer peripherals, and LCD (liquid crystal display) drivers.

eMemory Technology, Inc. develops and provides logic non-volatile memory (LogicNVM) technology. The company licenses its intellectual property to semiconductor foundries, integrated devices manufacturers (IDMs), and fabless design houses around the world.

Nanya Technology Corp. manufactures and markets dynamic random access memories (DRAMs).  The Company sells its products in Taiwan and exports worldwide.

King Yuan Electronics Co., Ltd. provides integrated circuit (IC) testing services to semiconductor manufacturers.  The Company tests the logic, memory, and burn-in functions of ICs.  King Yuan also specializes in IC reeling, packaging, and wafer grinding.

Global Unichip Corporation designs and produces a wide variety of silicon chips.

ASPEED Technology Inc. is a fabless IC-design house that specializes in server management, PC/AV extensions solution, desktop virtualization and security enhancement. The Company's products range from silicon chips, IPs to software products that enable sophisticated SOC- centric multimedia, praphics and new work applications.

Lasertec Corporation develops, designs, manufactures and markets photomask inspection systems to make semiconductor devices, confocal scanning laser microscopes and liquid crystal display (LCD) inspection systems.

Sanan Optoelectronics Co., Ltd. operates in the business of researching, producing and selling of LED epitaxial wafers and wafers.

SCREEN Holdings Co Ltd.  manufactures and sell semiconductors, FPD devices, commercial printing and printed circuit boards(PCB). The company also provides additional services for its products.

MKS Instruments, Inc. develops, manufactures, and supplies instruments and components used to control and analyze gases in semiconductor manufacturing and similar industrial manufacturing processes. The Company's products are used to manufacture flat panel displays, magnetic and optical storage devices and media, solar cells, fiber optic cables, and diamond thin films.

Skyworks Solutions, Inc., a wireless semiconductor company, designs and manufactures radio frequency and complete semiconductor system solutions for mobile communications applications.  The Company provides front-end modules, radio frequency subsystems, and system solutions to wireless handset and infrastructure customers worldwide.

JCET Group Co., Ltd. operates in the semiconductor industry.  The Company's products include discrete devices and integrated circuits.  Through its subsidiaries, Jiangsu Changjiang also manufactures signal lamps used in industrial equipment and anti-theft door systems for consumer use.

Onto Innovation Inc. provides process control solutions and inspection systems. The Company offers solutions which primarily used in the fabrication of semiconductors and other solid-state devices, as well as industrial and scientific applications. Onto Innovation serves customers in the United States.

Amkor Technology, Inc. provides semiconductor packaging and test services.  The Company offers deep submicron wafer fabrication, wafer probe testing, integrated circuit packaging assembly and design, final testing, reliability testing, burn-in, and electrical characterization.

Qorvo Inc, designs, develops, manufactures, and markets a variety of high performance analog and mixed signal integrated circuits for the communications markets. The Company's products are used for wireless communications applications such as cellular and PCS, cordless telephony, wireless LANs, industrial radios, wireless security and remote meter reading.

Entegris Inc. provides materials management products and services to the microelectronics industry on a worldwide basis.  The Company provides products such as wafer shippers, wafer transport and process carriers, pods, and work-in-process boxes.  Entegris also provides chemical delivery products such as valves, fittings, tubing, pipe, and containers.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

United Microelectron Sp Adr (UMC US)

UMC (2303 TT, BUY, NTD57.30)

100% capacity utilization rate; reiterate BUY with TP of NTD74. UMC’s growth momentum may come from 5G, IoT and EV in FY22. In particular, higher...

Capital Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)