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Hua Hong Semiconductor's Q1 Profit Plunges 79% as Revenue Falls
Hua Hong Semiconductor's (HKG:1347, SHA:688347) attributable profit plunged 79% to $31.8 million in the first quarter from $152.2 million in the year-ago period, according to a Thursday filing with th
Bank of America Securities: Maintaining Huahong Semiconductor's “lower than market” rating target price of HK$12
Bank of America Securities released a research report stating that it maintains Huahong Semiconductor's (01347) rating as “inferior to the market”, with a target price of HK$12. The company's first-quarter sales fell 27% year on year to 460 million yuan (US dollars, same below), in line with the bank's forecast of 459 million yuan; gross margin and operating profit margin for the period were 6.4% and -10.6% respectively, slightly higher than the bank's expectations, due mainly to non-operating income, mainly government subsidies. The bank pointed out that the Group's sales and gross margin for the second quarter were 470 million to 500 million yuan, and 6% to 10%, respectively, indicating that there will be no immediate recovery, but management is concerned about potential microcontrollers (MCUs) and
Hua Hong Semiconductor Target Price Raised to HK$16.00 From HK$15.00 by Citi Research >1347.HK
Hua Hong Semiconductor Target Price Raised to HK$16.00 From HK$15.00 by Citi Research >1347.HK
[Broker Focus] Goldman Sachs maintains Huahong Semiconductor's (01347) “buy” rating but indicates that its revenue guidance for the 2nd quarter fell short of expectations
Jinwu Financial News | Goldman Sachs Research Report said that Huahong Semiconductor (01347)'s revenue guide for the second quarter of 2024 was US$470 million to US$500 million, an increase of about 2-9% quarterly, lower than the bank's forecast of US$539 million and market expectations of about 2%. The gross margin guidance was between 6-10%, lower than the bank's forecast of 10.8%, but higher than market expectations of 6.8%. According to the bank, although Huahong Semiconductor's revenue and gross margin guidelines for the second quarter of 2024 have improved, since the first quarter is usually a low season, the forecast is still slightly lower. As the Group is driven by electric vehicles, new energy and industrial applications, local customers are interested in its I
Big Bank Ratings | UBS: The worst case for Huahong Semiconductor's “neutral” rating has passed, but the room for profit margin growth is limited
According to a report published by UBS, Huahong Semiconductor's sales in the first quarter were 460 million US dollars, up 1% from quarter to quarter, shipments increased 8%, and the average selling price fell 6%. Due to increased utilization, gross margin increased from 4% to 6.4% for the previous quarter, slightly above the guidance target of 3% to 6%. The bank gave it a “neutral” rating, and the target price was HK$17. UBS believes that the worst for Huahong is over, but the room for profit margins to rise is limited. If the following situation occurs, the bank may consider shifting to a more positive view, that is, demand for technology or semiconductors shows stronger signs of recovery; Huahong will accelerate its improvement with higher average selling prices and profit margins12
2024 First Quarter Report
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