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)

Vanguard (5347.TT): 1Q22 Results/ 2Q22 Preview- Further Price Increase Could Hold in 2H22

VIS (5347:TT): The Outlook Is a Bit Slower in 4Q23F

Vanguard (5347.TT): The Smartphone and Computing/NB/TV Sectors Have Turned to Normal.

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

Vanguard Intl Semiconductor / Equity Bottom-Up

<p>Double-digit revenue/earnings growth in FY21; recommend BUY . Vanguard’s 3Q21 revenue/GM met the company’s upper-end guidance. Given capacity expansion by 5~10% and full order backlog, we forecast Vanguard’s revenue/earnings to increase by double digits in FY22. Vanguard’s stock price hit our prior TP. As the catalysts have been partially priced in, we recommend TRADING BUY with TP of NTD175 (20x 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>

Double-digit revenue/earnings growth in FY21; recommend BUY . Vanguard’s 3Q21 revenue/GM met the company’s upper-end guidance. Given capacity expansion by 5~10% and full order backlog, we forecast Vanguard’s revenue/earnings to increase by double digits in FY22. Vanguard’s stock price hit our prior TP. As the catalysts have been partially priced in, we recommend TRADING BUY with TP of NTD175 (20x 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.

Vanguard Intl Semiconductor

Vanguard (5347 TT, BUY, NTD158)