Light 2Q16 guidance priced in; accumulate ahead of a strong 2H16
​Parade reported 1Q16 GM/EPS of 41.1%/NT$4.7 both beating the Street’s expectation of 40-40.5%/NT$4.0-4.5, owing to a better product mix. However, 2Q16 sales guidance (-7% to +2% QoQ) was slightly lower than expected (0-5% QoQ) with the key area of weakness from Standard-Plus NB and AIO (weaker Mac demand).
Parade Technologies is a fabless semiconductor company based in Taiwan. Co. designs, develops and sells display and interface solutions for computing, consumer and handset markets. Co.'s product portfolio includes timing controllers, converters, repeaters, MUX, DeMUX, level shifters and other related solutions. Applications for Co.'s products include desktops, notebooks, monitors, tablets, smartphones and other consumer electronics and display panels.
Yuanta is a Taiwan-headquartered brokerage with a growing presence in Asia, especially across Greater China. Our team of 140+ provides cutting-edge analysis on key sectors, spread across offices in Taiwan, Hong Kong, Shanghai (A-Share), Seoul and Jakarta. With an ever-expanding coverage universe of 400+ companies, we provide in depth analysis with unique local color to investors. Consistently being voted the Best Investment Consulting Firm in Taiwan in the AsiaMoney broker poll is evidence of our strength. We target providing an extensive range of research, from small, to mid-sized, to large cap. We bring you the big, well-covered names, as well as going off the beaten track to research the less-familiar companies.
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