It can be said that the National Integrated Circuit Industry Investment Fund has been reducing its holdings frequently recently. San'an Optoelectronics announced on the evening of August 31 that the National Integrated Circuit Industry Investment Fund, which has a stake of 8.469%, intends to reduce its stake in the company by no more than 2%.
Ruixin Micro announced on the evening of August 30 that the planned reduction of holdings has been more than half, and the shareholders of the National Integrated Circuit Industry Investment Fund Co., Ltd. have reduced their holdings by 0.65%.
Jacques Technology has also been reduced.
After today's trading, Jacques Technology announced that the company's shareholders, the National Integrated Circuit Industry Investment Fund Co., Ltd., planned to reduce their holdings of no more than 4.6285 million shares by centralized bidding, accounting for about 1% of the company's total share capital.
According to the report, the company achieved a total operating income of 1.8 billion in the first half of 2021, an increase of 94.2% over the same period last year; a net profit of 240 million, an increase of 14.7% over the same period last year; and earnings per share of 0.52 yuan.
As for the reasons for the reduction of national large funds, some analysts believe that the reduction does not shake the country's positive and optimistic attitude towards the future development of the semiconductor industry, but is a structural adjustment of funds. Although the transfer of funds from leading enterprises that have made some technological breakthroughs to enterprises that still need funds to support R & D operations, although it has a certain impact on short-term market sentiment, it does not affect the logic of enterprise development in the future.
Citic gives a target price of 134 yuan
It is worth noting that CITIC released the Jacques Science and Technology Research News on August 31st.
CITIC said that the company's rapid growth in performance, leading technical strength, continue to cut into new application areas through epitaxial mergers and acquisitions, fixed growth projects to promote the development of multi-line business, performance has entered a period of rapid growth.
In 2023, the EPS of the maintenance company 2021 PE 2022 is estimated to be 1.27According to the valuation of comparable companies in the industry, taking into account the leading position and high growth of the company, it is considered that the 75 times PE in 2022 is the reasonable valuation level of the company, corresponding to the target price of 134yuan.