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AEM SGD
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business turnaround ?
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beng1102
Elite |
15-Aug-2023 11:12
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Best time to buy on weakness.
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Joelton
Supreme |
15-Aug-2023 11:07
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AEM' s lower FY2023 revenue guidance prompts target price changes
 
Analysts have lowered target prices for AEM Holdings after the chip tester reported lower earnings for 1HFY2023. In addition, it is guiding for lower revenue for the whole of FY2023, suggesting that industry recovery will not take place so soon.
 
Furthermore, a full accounting of an arbitration settlement, of some US$20 million, will only be booked in the current 3Q, which will likely drag AEM into the red for this quarter.
 
For the six months ended June, revenue was below expectations, down 49.1% y-o-y to $275.2 million because of lower volume handled, and that new generation equipment volume did not materialise as customers' release schedules have been delayed.
 
Coupled with lower margins, AEM' s earnings for 1HFY2023 was down 76.3% y-o-y to $19.7 million. AEM will not be paying an interim dividend, versus 6.7 cents paid for 1HFY2022.
 
For the whole of FY2023, AEM expects revenue to range between $460 million and $490 million, down from an estimate of $500 million previously.
 
From the perspective of Citi' s analyst Jame Osman, the lowered sales target is a " key disappointment" , given how there had been recent " supportive" data points from Intel Corp, AEM' s key customer. For now, Osman has maintained his " buy" call and $4.87 target price.
 
In her Aug 14 note, DBS Group Research' s Ling Lee Keng is keeping her " hold" call on the stock, but with a reduced target price of $3.11, which remains pegged to 10x FY2024 earnings. Her previous target price was $3.35.
 
Ling believes that with inventory destocking still underway for the rest of the year, meaningful recovery will be deferred to 2024.
 
With the gloomier prospects, Ling has reduced her FY23 revenue forecast by 20% as the semiconductor recovery is deferred to 2024.
 
With lower top-line, weaker margins, and substantial expenses from the arbitration settlement, her FY2023 earnings estimates has been reduced by 75%.
 
Nonetheless, there some " bright spots" involving new customers other than AEM' s key income source: Intel Corp. It has received some new initial orders from an additional leading application processor customer, and engagements with a previously announced memory customer is seeing good progress.
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superstartup
Elite |
15-Aug-2023 10:41
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UOB playing Upgrade by them today |
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Startsmm
Member |
15-Aug-2023 10:40
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rocket 🚀 | ||
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L.FATT
Member |
15-Aug-2023 10:21
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Train in motion or aeroplane? | ||
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Startsmm
Member |
15-Aug-2023 09:40
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All huat | ||
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L.FATT
Member |
15-Aug-2023 09:10
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Fly up started. Dun miss the boat or watch show. This is no fly by night company. Trough already passing ripe time to ascend the Crest. | ||
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Startsmm
Member |
15-Aug-2023 09:06
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I said b4 fly high | ||
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easywin
Supreme |
14-Aug-2023 10:55
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Maybe can get below $3.00 as market sentiment is bad. | ||
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s100125
Master |
14-Aug-2023 10:50
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Not a good sign. Likely more selling pressure in the days ahead, trades with care. |
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tongphlp
Supreme |
14-Aug-2023 09:46
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really? even temasek now losing $$...risky..
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easywin
Supreme |
14-Aug-2023 09:37
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Today most counters short can earn easy money | ||
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Startsmm
Member |
14-Aug-2023 09:32
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Don't worry, afternoon up again 😉 😀 | ||
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tongphlp
Supreme |
14-Aug-2023 09:18
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CEO should be sacked?
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Startsmm
Member |
14-Aug-2023 08:58
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Drop first up later, fly fly high | ||
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WongKheeKai
Member |
13-Aug-2023 21:05
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If $3 comes tmr, will bring out the big guns to buy more to load up. This is no fly by night company -with prudent and wise mgmt that has migrated to the new product and more new customers since many quarters ago. If $2.50 comes, then will buy like no tmr. |
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Startsmm
Member |
13-Aug-2023 21:02
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Maybe fly high tomorrow | ||
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jlinus
Senior |
13-Aug-2023 20:34
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$3 tomorrow?
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Mandmx
Member |
13-Aug-2023 18:22
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Think there was 1 analyst house gave $2 target a while ago but price shot up instead. See how this week. | ||
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rlong8288
Master |
13-Aug-2023 17:06
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Tomorrow shortlist day, just watch show | ||
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