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

Masterlink Securities

MasterLink Securities provide brokerage, securities underwriting, and proprietary trading services in Taiwan. It offers brokerage services, including Taiwan stock exchange and OTC brokerage services, futures trading assistance, foreign securities trading, investment Banking services, and derivative products.

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External broker reports(aggregated public sources)

Novatek (3034.TT): A Good Year Ahead, and Likely to Expand to SMIC for Wafer Foundry

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Equity Bottom-Up

Novatek Microelectronics Corp / Equity Bottom-Up

<p>Tight capacity did not curb sales. Moreover, profit reached a peak. After quarters of lackluster performance, AMOLED driver IC sales would hit a new high in 3Q21, and grow significantly in 2022. The problem of tight capacity remains unresolved. Novatek’s capacity would increase mildly, and ASP is expected to stay high in 2021-2022. Based on the current conditions, we revise up FY21 and FY22 EPS forecasts to NT$61.89 and NT$69.94, respectively. </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>

Tight capacity did not curb sales. Moreover, profit reached a peak. After quarters of lackluster performance, AMOLED driver IC sales would hit a new high in 3Q21, and grow significantly in 2022. The problem of tight capacity remains unresolved. Novatek’s capacity would increase mildly, and ASP is expected to stay high in 2021-2022. Based on the current conditions, we revise up FY21 and FY22 EPS forecasts to NT$61.89 and NT$69.94, respectively. 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.

Novatek (3034 TT) Sales Growth despite Capacity Constraints