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

Capital Securities

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.

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

<p>Realtek’s FY22 revenue/earnings are forecasted to increase by double digits; recommend BUY. Realtek’s 3Q21/GM revenue met our forecast. Given persistent robust demand for automotive Ethernet, Bluetooth, WiFi 6, IoT and 5G, the market’s supply/demand condition of networking chips may stay tight in FY22. Additionally, Realtek may be supported by additional capacity from new foundry partner in FY22.. Realtek’s ASP may continue to increase in FY22 due to better product mix and price hikes. We forecast Realtek’s FY22 revenue/earnings to continue to increase by double digits. Recommend BUY with TP of NTD580 (13x FY22 PER). </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>

Realtek’s FY22 revenue/earnings are forecasted to increase by double digits; recommend BUY. Realtek’s 3Q21/GM revenue met our forecast. Given persistent robust demand for automotive Ethernet, Bluetooth, WiFi 6, IoT and 5G, the market’s supply/demand condition of networking chips may stay tight in FY22. Additionally, Realtek may be supported by additional capacity from new foundry partner in FY22.. Realtek’s ASP may continue to increase in FY22 due to better product mix and price hikes. We forecast Realtek’s FY22 revenue/earnings to continue to increase by double digits. Recommend BUY with TP of NTD580 (13x FY22 PER). 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.

Realtek Semiconductor

Realtek (2379 TT, BUY, NTD499)