| Title |
• | Advanced Ceramic X (3152 TT) Buy, TP: NT$510 |  |
| |
• | Asustek (2357 TT) Buy, TP: NT$275 | |
| |
• | Yeong Guan Energy (1589 TT) Buy, TP: NT$108 | |
| |
• | ChipMOS Technologies (8150 TT) Buy, TP: NT$37 | |
| |
• | Accton (2345 TT) Buy, TP: NT$267 | |
| |
• | Zhen Ding Technology (4958 TT) Buy, TP: NT$143 | |
| |
• | eMemory (3529 TT) D/G Neutral | |
| |
• | TCI (8436 TT) D/G Neutral | |
| |
• | Chicony Power Technology (6412 TT) Buy, TP: NT$84 | |
| |
• | TaiDoc (4736 TT) U/G Buy, TP NT$295 | |
| | | |
| More Titles | Page 1 2345678910>> | |
|
|
|
| | |
|
|
|
| Title: | Wiwynn (6669 TT) Buy, TP: NT$850 |
|
|
| Download File: | 6669 TT Wiwynn note 201023--sinopac.pdf  |
|
|
|
|
|
| Summary: | Maintain Buy, TP of NT$850 (16x 2021F P/E): 1) SEP sales rebounded to NT$16.81bn (+13.7% MoM, +49.2% YoY). We estimate 4Q20 sales will rise to NT$51.62bn (+9.4% QoQ, +4.2% YoY) on customer¡¯s year-end pull-ins. 2) Facebook and Microsoft continue to drive growth of the datacenter industry. When 5G network coverage reaches its tipping point, 5G will drive up server spending. 3) Wywinn¡¯s customer concentration risk will decrease as AWS¡¯s contribution increases. 3) Valuation: We forecast EPS at NT$45.5/NT$53.10 for 2020/2021. Wiwynn is trading at 16x 2021F P/E now. Our TP implies an upside of 12.8%. |
|
| | |
|
| Date: | 2020/10/23 |
|
| Author: | TaiwanResearch.com |
|
|
|
|
|
|
Market Commentary