Title Macronix (2337 TT) Neutral
  Win Semiconductor (3105 TT) Neutral
  Landmark (3081 TT) Buy, TP: NT$352
  Powertech Technology Inc. (6239 TT) Buy, raise TP to NT$115
  Parade Technologies (4966 TT) Buy, raise TP to NT$1,573
  Novatek (3034 TT, IC Design) Buy, Raise TP to NT$516
  Vanguard (5347 TT) Buy, TP: NT$132
  Realtek (2379 TT) Buy, raise TP to NT$535
  Airtac International (1590 TT) Buy, Raise TP to NT$1,382
  Hiwin (2049 TT) Buy, raise TP to NT$460
 
More Titles
Title:Delta (2308 TT) Buy, TP raised to NT$329
Download File:2308 TT Delta note 210114--sinopac.pdf 
 
Summary:Raise TP to NT$329 (36x automation + 36x infrastructure + 23x PC component 2021F EPS) from NT$231; Maintain Buy: 1) We raise our IA sales estimate for 2021; 2) We see a positive outlook for Delta¡¯s base station and Automotive segments; 3) Valuation: Our valuation methodology assigns individual P/Es for its major businesses ¨C automation, infrastructure, and PC components, for which we estimate 2021 EPS weightings of 21%, 32%, and 47% respectively. Our TP implies an upside of 7.52%.
  
Date:2021/01/14
Author:TaiwanResearch.com
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