- UMS's 9M22 earnings of S$82m (+73% y-o-y) are above our expectations, forming 104% of our 2022F estimate as UMS continues to benefit from solid expansion of wafer fabs worldwide.
- - Read this at SGinvestors.io -
- We raised our 2022 and 2023 EPS by 27% and 29%. Upgrade UMS to BUY with a 29% higher target price of S$1.38.
UMS's 9M22 earnings benefited from strong expansion of global wafer fabs.
- UMS Holdings (SGX:558)’s 9M22 earnings of S$82m (+73% y-o-y) are above our expectations, forming 104% of our full-year estimate as UMS continues to benefit from the strong performances of its Semiconductor Integrated System and component sales.
- - Read this at SGinvestors.io -
- All of UMS's key geographies experienced growth. Malaysia and the "others" market reported the strongest growth, clocking in triple-digit sales increases. Revenue in Malaysia grew 124% and revenue in the “others” market soared 147% in 9M22. Sales in Singapore went up by 48%, while revenue in Taiwan and the US increased by 28% and 12% respectively.
UMS’s outlook remains robust with a huge order backlog and it is ready to take on more orders from new customers.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | https://research.uobkayhian.com/ 2022-11-14
Read also UOB's most recent report:
2024-02-20 UMS - Revenue Recovery & Positive Outlook Of Key Customer; Raise Target Price By 19%.
Previous report by UOB:
2023-11-15 UMS - 3Q23 results In Line With Expectations; Outlook Remains Buoyant.
Price targets by 4 other brokers at UMS Target Prices.
Listing of research reports at UMS Analyst Reports.
Relevant links:
UMS Share Price History,
UMS Announcements,
UMS Dividends & Corporate Actions,
UMS News Articles
