WIN SEMICONDUCTORS (TW), a company active in the Semiconductors industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 4 out of 4 stars while its market behaviour can be considered as moderately risky. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date October 29, 2021, the closing price was...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Add exposure to Technology, Communications We view weakness over the past week as correcting a significant amount of the excess optimism that was baked-in to global equities. As a result, we recommend taking advantage of the pullback by adding exposure to our favorite areas - namely Technology. Our overall outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains positive and we continue to expect higher equity prices going forward. • Index overviews: MSCI ACWI ex-US, MSCI EM, ...
The MSCI ACWI and ACWI ex-US have managed to break above their respective 200-day moving averages, providing further evidence that global equities are going through a bottoming process. • Remain overweight China which is leading global equities higher. RS uptrends remain intact for the Shanghai Composite and MSCI China indexes. In today's report we highlight a number of actionable charts Chinese companies, focusing on less-exploited price patterns... see page 2. • EAFE small- vs large-cap...
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...
​Downgrade to HOLD-OPF: Win Semi’s share price has risen 85% since our upgrade in Sept, 2015, and this rally may have already priced in most of its near-term catalysts, including its 1) GM expansion for nine-straight quarters; 2) announcement to enter OC markets; 3) 30% cash capital reduction; and 4) a 10 mn shares buyback. While we believe the rising RF content story, such as the network upgrade to 4G/5G/CA in smartphones and to 802.11ac/dual band/MIMO in Wi-Fi devices, will remain a long-t...
​Asides from the multiple growth drivers ahead, we also like Win Semi’s various valuation re-rating opportunities including its 1) expansion into the more secular optical communication (OC) market to grow its TAM by 76%; and 2) a 30% cash capital reduction to lift its ROE by ~1 ppt. The stock is currently trading at an undemanding 2016 P/E of 12x vs. its GaAs peer VPEC at 18x and OC peer LandMark at 26x. As such, we reiterate BUY and leave our quarterly & annual earnings forecasts unchanged ...
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