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ASE and Cadence Deliver First System-in-Package EDA Solution Tailored ...
KAOHSIUNG, Taiwan & SAN JOSE, Calif.--(BUSINESS WIRE)-- Advanced Semiconductor Engineering, Inc. (ASE, TAIEX: 2311, NYSE: ASX), and Cadence Design Systems, Inc. (NASDAQ: CDNS), today announced they have collaborated to release a System-in-Package (SiP) EDA solution that addresses the challenges of designing and verifying Fan-Out Chip-on-Substrate (FOCoS) multi-die packages. The solution consists of the SiP-id™ (System-in-Package - intelligent design) design kit, an enhanced reference flow including IC packaging and verification tools ...
ASE Named 2018 Thomson Reuters Top 100 Global Technology Leader
TAIPEI, Taiwan--(BUSINESS WIRE)-- Advanced Semiconductor Engineering, Inc. (ASE, TAIEX: 2311, NYSE: ASX) was today recognized by Thomson Reuters as a 2018 Top 100 Global Technology Leader. The inaugural program identifies the tech industry’s most operationally sound and financially successful organizations. The study, the industry’s first holistic assessment of today’s leading tech companies, utilizes a 28-point data-driven algorithm to objectively identify organizations with fortitude for the future in today’s complex busine...
ASE Named Industry Sector Leader in the 2017 Dow Jones Sustainability ...
TAIPEI, Taiwan--(BUSINESS WIRE)-- Advanced Semiconductor Engineering, Inc (ASE, TAIEX: 2311, NYSE: ASX), the leading provider of semiconductor assembly and test services, today announced that it has once again been included in the 2017 Dow Jones Sustainability Indices (DJSI) World and the Emerging Market segments. For the second year in a row, ASE was also named the sector leader in the Semiconductors and Semiconductor Equipment Industry Group, one of 24 groups represented on the DJSI. In the Semiconductors and Semiconductor ...
ASE K7 Receives Green Factory Label
KAOHSIUNG, Taiwan--(BUSINESS WIRE)-- Advanced Semiconductor Engineering, Inc (TAIEX: 2311, NYSE: ASX), a leading semiconductor assembly and test service provider, announced that its K7 manufacturing facility in Kaohsiung has received the Green Factory Label1 from the Industrial Development Bureau, Ministry of Economic Affairs, Taiwan. K7 is the sixth factory following K3, K5, K11, K12 and K15, at the ASE Kaohsiung Nantze campus to receive the label. ASE is fully committed to corporate sustainability through actions that ...
- MarketLine Department
Advanced Semiconductor Engineering, Inc. - Strategy, SWOT and Corporat...
Synopsis Advanced Semiconductor Engineering, Inc. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Summary - Detailed information on Advanced Semiconductor Engineering, Inc. required for business and competitor intelligence needs - A study of the major internal and external fact...
ASE Gears Towards a Sustainable World with the Presentation of the ‘...
KAOHSIUNG, Taiwan--(BUSINESS WIRE)-- Advanced Semiconductor Engineering, Inc (TAIEX:2311, NYSE:ASX), a leading semiconductor assembly and test service provider, today hosted the ASE Group 2016 supplier award ceremony. Besides the ‘Best Supplier Award’ category that recognizes and honors outstanding suppliers, an ‘Excellence in Sustainability Award’, which is an OSAT industry’s first, was added this year. For the sustainability award category, ASE engaged an independent third party assessor to design questionnaires, tools and scorecard...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Non-op losses not impacting core operation
​We transfer coverage with a BUY rating and TP of NT$44: 3Q16 EPS was lower than the market’s recently raised expectations, due to: 1) some expected that ASE could recognize SPIL’s dividends as a non-op gain, which was a misunderstanding; 2) ASE had to book PPA valuation on SPIL as a non-op exp, which had a 6% impact on EPS; and 3) one-off ECB and F/X losses totaled NT$460 mn (or 8% impact on EPS). However, many of these are non-cash items, and most importantly, had nothing to do with its ...
For a rough year with low expectations, not bad at all
​While we continue to base our thesis on the successful consolidation of ASE & SPIL in 1Q17, near-term sales & margin outlooks for both ATM & EMS are all better than feared. Our TP is still based on 2.2x 2017F BVPS (15% ROE) vs. its mid-cycle average of 1.8x P/B. For reference, SPIL (2325 TT; H-UPF) is already trading at 2.1x 2017F BVPS (16% ROE). Despite market concerns over ASE’s heavy sales exposure to Apple (we estimate it to be around 30-35% of its 2015 sales), ASE’s 2Q16 results were...
What’s my name? Call me Mr. Big
We raise our 2017F basic/diluted EPS by 21% to NT$3.2/3.05 assuming a full takeover of SPIL starting 2017F; we thus raise our BUY TP to NT$47: ASE+SPIL (aka Mr. Big) deal is likely to go through (pending timing risk) as ASE and SPIL have come to agreement. We have earlier addressed antitrust concerns which we think are insufficient grounds for regulatory disapproval. Our new TP is now based on 2.2x 2017F BVPS (previously 2.0x 2016F) (see Valuation for details). ASE now trades at 1.7x 2017F BVPS ...
ASE/SPIL M&A back in play?
​Local press (Economic Daily) headlines today claim that ASE (2311 TT; BUY) plans to re-apply to Taiwan’s FTC (Fair Trade Commission) for the review of fully acquiring the remaining stake in SPIL (2325 TT; HOLDUPF). SPIL’s shares are up 8% and ASE’s are up 2%, both today.
Valuation difference starting to matter on cyclical downturn
​ASE’s 2Q16F IC backend sales guidance of +9% QoQ is in line with SPIL’s. But its Apple-heavy EMS guidance (likely -5% QoQ) will be a drag on its consolidated 2Q16F sales. Compared to SPIL, ASE’s P/B is much cheaper and we suggest to buy on a dip. Despite a surprising beat on 1Q16 EPS, overall growth outlook related to Apple (30-35% of its 2015 sales based on our estimate) continues to deteriorate, thus leading to our EPS forecast cuts. Our new TP is now based on the avg. of 2.0x (previo...
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