Report
Allen Cheng
EUR 147.86 For Business Accounts Only

MediaTek’s Q3 Result Was In Line With Expectations, as Margins Remain Low; FVE Maintained at TWD 230

No-moat MediaTek’s third-quarter results were broadly in line with our expectations, with net income down 1.6% sequentially and up 18.8% versus the year-ago quarter. Revenue only hit the company’s low-end guidance, owing to capacity constraints in its 28-nanometer products. Quarterly smartphone and tablet shipments were approximately 150 million units, with high-end Helio accounting for 20%. Intensifying competition with Qualcomm has hurt MediaTek’s gross margin since 2015. Gross margin for the ...
Underlying
MEDIATEK INC.

Mediatek is engaged in the research, development, manufacture and sales of multi-media integrated circuit ("IC"), IC for computer peripherals, IC for advanced consumer electronics, IC for other special applications and decoders of optical storage; software application design, testing, maintenance and technical consultation services for IC; the import and export of products related to IC. Co.'s product items include optical storage chipset; CD-ROM chipset and single chip, DVD-ROM chipset and single chip, CD-R/RW chipset, combi chipset; and advanced digital consumer chipset DVD-Player chipset (RF chip, servo controller chip and highly integrated chip).

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Allen Cheng

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