AEM - CGS-CIMB Research 2022-01-26: Ready For The System Level Testing Wave

AEM - Ready For The System Level Testing Wave

  • System Level Testing (SLT) is the ability to test a chip, or multiple chips in a package, in the context of how it will be used. According to AEM (SGX:AWX)’s 1H2020 results presentation slides, SLT spending is expected to grow at a CAGR of 21.6% between 2019 (US$1.2bn) and 2024F (US$3.2bn).
  • In our view, as chips become more complex and packaging demands increase, there is room for SLT to play a bigger role, and AEM has a chance to be a meaningful player in the SLT space.
  • In a 24 Jan 2022 interview with The Business Times, AEM’s Non-Executive Chairman Mr Loke Wai San also highlighted that AEM is gaining recognition from industry players for its SLT.
  • Reiterate ADD call on AEM with a target price of S$7.90.

Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @

William TNG CFA CGS-CIMB Research | 2022-01-26
SGX Stock Analyst Report ADD MAINTAIN ADD 7.900 SAME 7.900

Read also CGS-CIMB's most recent report:
2022-08-15 AEM - What Happens In FY24F?

Check out the most recent target prices at AEM Target Prices. Listing of analyst research reports at AEM Analyst Report.

Relevant links:
AEM Share Price History,
AEM Announcements,
AEM Dividends & Corp Actions,
AEM News Articles


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