- Even though we expected a dismal 2Q23 for AEM, the result still came in lower than our and consensus estimates. AEM also lowered its FY23 revenue guidance to S$460 to S$490m.
- - Read this at SGinvestors.io -
- With the worst over, we are bullish on the long-term key role that AEM plays in the testing space and believe it will benefit from a semi-con rebound in FY24E. We thus upgrade AEM to BUY from HOLD with a lower target price of S$3.77 (-3%) pegged to 12x 24E P/E.
AEM stands firm on settlement
- - Read this at SGinvestors.io -
- AEM fully retains all its capabilities related to thermal control and has been awarded two additional patents related to its thermal control technology. Management also clarified that none of what is designed for Advantest is used for new and large customers and it has a strong portfolio of patents to ward off any future issues.
No loss of key customer market share
- Read more at SGinvestors.io.
