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.

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)

Equity Bottom-Up

<p>TST’s impressive 2Q21 GM jumped by 8ppts QoQ, and the company would complete raising product prices for the remaining clients in 3Q21-4Q21. With that, we expect TST’s gross margin to trend up in 2H21. Additionally, the company’s long-term growth drives would come from automotive market recovery in Europe and the U.S., as well the migration from WiFi 5 to WiFi 6. Moreover, Sawnics has turned profitable in 2Q21, while Cirocomm’s monthly sales are expected to reach breakeven in 2H21 and begin generate profits in 1H22. Therefore, we forecast FY21 and FY22 EPS at NT$2.01 and NT$2.94, respectively, and assign a TP of NT$45 for the company (15x 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>

TST’s impressive 2Q21 GM jumped by 8ppts QoQ, and the company would complete raising product prices for the remaining clients in 3Q21-4Q21. With that, we expect TST’s gross margin to trend up in 2H21. Additionally, the company’s long-term growth drives would come from automotive market recovery in Europe and the U.S., as well the migration from WiFi 5 to WiFi 6. Moreover, Sawnics has turned profitable in 2Q21, while Cirocomm’s monthly sales are expected to reach breakeven in 2H21 and begin generate profits in 1H22. Therefore, we forecast FY21 and FY22 EPS at NT$2.01 and NT$2.94, respectively, and assign a TP of NT$45 for the company (15x 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.

Tai-Saw Technology (3221 TT) 2H21 GM Uptrend Automotive to Carve Up 25% Sales

Tai Saw Technology

Tai-Saw Technology (3221 TT) 2H21 GM Uptrend Automotive to Carve Up 25% Sales