- We trim our 2023-24 earnings forecast for Venture Corp by 4-5%. Our target price for Venture Corp fell 4% to S$14.06. Upgrade Venture Corp to BUY as valuation has turned more compelling.
- - Read this at SGinvestors.io -
- However, Venture Corp will continue to strengthen its relationship with customers to secure growth in market share and roll out new products.
Results below expectations due to soft customer demand and ongoing inventory destocking.
- - Read this at SGinvestors.io -
- Revenue fell 19% y-o-y in 9M23 against a high base last year due to demand softening across the majority of its technology domains and customers’ inventory destocking.
- 9M23 net margin fell 0.7ppt to 8.9%, mainly due to lower operating leverage as revenue declined.
- Venture Corp is looking to maintain cost efficiency and right size its workforce without having to restructure.
Expect easing decline of revenue.
- Read more at SGinvestors.io.
