AmResearch said it made no changes to its earnings forecast as the company’s financial year ended Dec 31 core net profit is in line with its expectations.
“We introduce FY25 earnings at RM59mil, premised on a revenue growth of 6.5% and stable pre-tax margin of 25%,” it told clients. “We believe the stock is fairly valued at the current level of 15.7 times FY23 price earnings or PE given the softer outlook in its sensor business as key customers are still caught in supply chain bottlenecks, leading to lower volume loadings.RHB Research said it was maintaining its “neutral” call on Globetronics, noting that overall, the recent weaker performance was affected by lower loadings from major products, cushioned by favourable foreign exchange.
“Both the light and gesture sensors should see lower-loading. The cost escalations in labour and the electricity bill will also undermine FY23 performance, on top of the lower-volume forecasts guidance. However, new projects – such as the lens encapsulation and Sorra laser – are expected to contribute this year.”
Due to the USA sanction?