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>Steady revenue/earnings; ongoing acquisition; new capacity yet to become operational . The company is currently traded at the low end of its PER range of 7~22x. Its previous acquisitions of KEMET and Pulse have helped the company move in the development of high-end products while its acquisition of Chilisin may take time to come to fruition in FY22. Yageo’s revenue/earnings remain steady at the moment as the group continues its plan of acquisitions. We expect the synergy to emerge in FY23 along with the fact that the capacity of its new plant in Kaohsiung becomes operational afterwards. At the moment, we do not give a high PER valuation and recommend NEUTRAL. </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>

Steady revenue/earnings; ongoing acquisition; new capacity yet to become operational . The company is currently traded at the low end of its PER range of 7~22x. Its previous acquisitions of KEMET and Pulse have helped the company move in the development of high-end products while its acquisition of Chilisin may take time to come to fruition in FY22. Yageo’s revenue/earnings remain steady at the moment as the group continues its plan of acquisitions. We expect the synergy to emerge in FY23 along with the fact that the capacity of its new plant in Kaohsiung becomes operational afterwards. At the moment, we do not give a high PER valuation and recommend NEUTRAL. 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.

Yageo Corporation

Yageo (2327 TT, NEUTRAL, NTD410.00)