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I also hope for semicon recovery in the 2nd half. I manage to buy 100 lots...
Stock always moved ahead of the recovery. It is a question of viewing the individual stock. The best part of this company is a Taiwanese management. They know how to deliver good results. Wait for this reporting coming soon around 1st to 2nd week of May 07.
Wait for the semi-con recovery in the second half of this year.
This share moved backward rather than forward. No bad news and always good news. Global Test had been always pegged as the secondary stock to UTAC. The stock price of UTAC had been moved from 0.80 to 0.915 but Global Test is hardly moved. My own personal opinon is Global Test is slightly better than UTAC. Fair value - 0.41 based on brokage houses for Global Test at the current price of 0.23. Fair value - 1.03 for UTAC at the current price of 0.915. It is good time to acculumate now and wait for better time. Warning to those play contra because you will tend to lose out. The price should be at level of 0.27 on equivalent movement in tandem with UTAC but somehow resistance level 0.235 was not able to break. There was a share placement by Global Test made quite time at 0.31. There is a disparity of price level.
Q to buy at 0.23 everyday but not successful.
Any news how come so many people q to buy at this price.
Not much risk at this price but also wouldn't be surprise if price only move up only after the release of the 1st quarter result as it's expected to be weak. This is what happened to DMX...
heard this many times over the past 6 months, hopefully this time around, it happens as analysed. During the same period, as least UTAC and CSM have both moved
Trading Ideas
Spotlight on Global Testing Corporation
Potential to break higher
At a glance
Last Price (S$) 0.24
YTD (%) +2.1
Issued shares (m) 1,050.00
Market cap (US$ m) 252.00
52-wk range (US$) 0.21 - 0.39
3M avg volume (m) 10.81
2008 P/E (x)* N/A
P/BV (x) 1.0
*Bloomberg Consensus
Source: CIMB/CIMB-GK Research, Bloomberg
Description:
semiconductor manufacturing industry. The company offers wafer sorting and final testing
services for logic and mixed signal semiconductors used in consumer electronics and
communications devices.
Global Testing Corporation (GTC) offers testing services for the
Immediate outlook:
indicators are slowly turning positive. In the short term, we expect the stock to consolidate
a tad before trying to break out of its consolidation triangle. The stock is a
The stock is still trapped in its consolidation triangle. Both itsTechnical Buy
now at the S$0.22-0.24 level. Place a stop at S$0.21. The breakout target is S$0.30.
Medium term outlook (2-6 months):
uptrend channel is still intact. With MACD just issued a buy signal since last Nov and it has
been edging higher slowly. We believe that long term investors should
stock is trading very near the bottom of its uptrend channel. Hence the downside risks are
small relative to its potential returns. This is an
Next target for the stock is the middle band resistance at S$0.30-0.31, followed by
S$0.375-0.39 next.
Medium term outlook for GTC is bullish as itsBuy now as theexcellent opportunity to buy this stock.
whats the view on this counter? very active today...
This counter is a laggard..hope to see it move soon..vested..
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Chips are up for Global Testing
By OH BOON PING
CHIP tester Global Testing Corp (GTC) looks like a neglected stock and a potential gem waiting to be unearthed.
At present, the company is rated by only two brokerages - UOB Kay Hian and DBS Vickers - and its share price hasn't moved very much despite the recent spike in market volatility. Listed at 30 cents in 2005, the stock closed at 23 cents yesterday, little changed since the start of the year compared with the electronic index which has risen 4.7 per cent over the same period.
This is, however, not surprising since the company posted a weak set of Q4 results that saw sales falling 2.3 per cent to US$17 million, alongside a sharp 45.7 per cent plunge in gross profit to US$5.3 million due to a cut in utilisation rate and a fall in the average selling prices.
The immediate horizon looks dismal, too, with expectations that this quarter could again see GTC report a sequential fall in sales of between 18 per cent and 22 per cent, due to weak industry-wide demand in the consumer and communication sectors, as customers digest their excess inventories. To make matters worse, the company was also hit by the Chinese New Year holidays when most of its customers shut their operations.
But if one were to look beyond its present constraints, GTC's prospects appear promising. Some analysts are expecting a bottoming-out of the electronics sector to kick in soon, which means the company's operating environment should improve in the next quarter. In a report, UOB Kay Hian said the company's wafer sorting business should begin its recovery in Q2, thanks to a pick-up in demand from the personal computer (PC) segment.
GTC appears poised to benefit from this, with the management focusing its efforts on expanding the scope of services to cover the PC segment besides the consumer and communication areas. This will enable the company to leverage on the strengthening market demand in those areas. In addition, UOB Kay Hian pointed out that GTC has secured PC graphics business from Nvidia Corp, and is set to start wafer sorting for the PC graphics chips from Nvidia this month. This is a promising deal since Nvidia - a graphics chip maker - is now a bigger player, after its rival ATI was acquired by Advanced Micro Devices last year.
More importantly, the brokerage said the project generates higher revenue per hour of test time because of the high technical complexity involving vertical probe cards. Nvidia has also raised the requirements for pre-production testing services at Global Testing's facility at Sunnyvale, California. In addition, investors can expect more contributions from Marvell Technology - the company's biggest customer - after the latter bought over Intel's communications and application processor business.
The business unit develops processors based on XScale technology for smartphones and personal digital assistants such as Blackberry 8700, PalmTreo and Motorola Q. According to UOB Kay Hian, the wafer sorting services for the new range of communications products will start contributing in the third quarter.
To prepare for the ramp-up, the company - which had a cash hoard of US$54.5 million at Dec 31, 2006 - has budgeted a capital expenditure of between US$34 million and US$39 million, said OCBC Investment Research, which does not rate the stock. This should add another 38 testers to its existing 150 testers.
Besides its topline focus, Global Testing aims to maintain its gross margin at around 45 per cent this year, which is similar to last year's level. Given its potential and attractive PE compared with its peers, it is not unthinkable that the company could be a target of private equity buyouts. For example, the closing PEs for comparables Utac and STATS ChipPAC were at 11.66 and 29.85 times yesterday - much higher than GTC's 7.99.
Indeed, this cannot be ruled out given that there's a growing interest among private equity firms in taking listed tech plays here private. For example, Temasek Holdings has moved to acquire STATS ChipPAC, while Affinity Equity Partners has offered to buy up plastic component maker First Engineering. If a similar offer for GTC materialises, shareholders could be looking at a gain of over 20 per cent, assuming an offer price of 28 cents - a definite windfall at any rate.
If reaping superior gains in a volatile market is the goal, then Global Testing may just be the stock that investors could be looking for. |
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Shares of
Taiwan Semiconductor Manufacturing Co. Ltd. jumped
Tuesday after an analyst lifted his price target on the stock and said
he expects the chip maker to win over a new key customer in the Asia
Pacific region.
Citigroup
(nyse:
C -
news
-
people
)'s Andrew Lu said he expects the company to begin shipping LCD TV controller wafers to the new customer in the second quarter.
He
lifted his price target on the stock to $82 New Taiwan Dollars ($2.49),
from $78 New Taiwan Dollars ($2.36). Lu left the American Depository
Receipt target price at $13.
"After a sluggish first quarter for
customers to adjust down inventories, we believe the downward earnings
revision trend on Taiwan Semiconductor Manufacturing Co.
(nyse:
TSM -
news
-
people
) might begin to reverse," he wrote in a note to investors.
ADRs
of TSMC, which have traded between $7.97 and $11.64 over the last 52
weeks, rose 47 cents, or 4.7 percent, to $10.58 in afternoon trading on
the New York Stock Exchange.
Copyright 2006 Associated Press. All rights reserved. This material
may not be published broadcast, rewritten, or redistributed
Please note earlier analyst report that GT has won some allocation from TSMC from another Taiwan Chip tester.
1+1= 2 ??
GLOBAL TESTING CORPORATION LIMITED
(Company Registration Number 200409582R)
INCORPORATION OF TWO NEW SUBSIDIARIES
The Board of Directors of Global Testing Corporation Limited (the ?Company?) wishes to
announce that the Company has incorporated two new subsidiaries in Hong Kong, Global Testing
International Pte Limited (?GT International?) and Global Testing Asia Holding Pte Limited (?GT
Asia?).
GT International will be principally involved in the sales and marketing activities of the Company
and its subsidiaries (the ?Group?). It will have an issued and paid-up capital of US$1.00.
Furthermore, the Group intends to expand its business to provide testing services in the PRC in
2007. GT Asia will be an investment holding company of its China subsidiaries and will have an
issued and paid-up capital of US$1,000.
Both GT International and GT Asia are wholly-owned subsidiaries of the Company.
The above transactions are not expected to have a material impact on the earnings per share and
net asset value per share of the Group for the financial year ending 31 December 2007.
Company?) wishes to
announce that the Company has incorporated two new subsidiaries in Hong Kong, Global Testing
International Pte Limited (?GT International?) and Global Testing Asia Holding Pte Limited (?GT
Asia?).
GT International will be principally involved in the sales and marketing activities of the Company
and its subsidiaries (the ?Group?). It will have an issued and paid-up capital of US$1.00.
Furthermore, the Group intends to expand its business to provide testing services in the PRC in
2007. GT Asia will be an investment holding company of its China subsidiaries and will have an
issued and paid-up capital of US$1,000.
Both GT International and GT Asia are wholly-owned subsidiaries of the Company.
The above transactions are not expected to have a material impact on the earnings per share and
net asset value per share of the Group for the financial year ending 31 December 2007.
GT International?) and Global Testing Asia Holding Pte Limited (?GT
Asia?).
GT International will be principally involved in the sales and marketing activities of the Company
and its subsidiaries (the ?Group?). It will have an issued and paid-up capital of US$1.00.
Furthermore, the Group intends to expand its business to provide testing services in the PRC in
2007. GT Asia will be an investment holding company of its China subsidiaries and will have an
issued and paid-up capital of US$1,000.
Both GT International and GT Asia are wholly-owned subsidiaries of the Company.
The above transactions are not expected to have a material impact on the earnings per share and
net asset value per share of the Group for the financial year ending 31 December 2007.
?).
GT International will be principally involved in the sales and marketing activities of the Company
and its subsidiaries (the ?Group?). It will have an issued and paid-up capital of US$1.00.
Furthermore, the Group intends to expand its business to provide testing services in the PRC in
2007. GT Asia will be an investment holding company of its China subsidiaries and will have an
issued and paid-up capital of US$1,000.
Both GT International and GT Asia are wholly-owned subsidiaries of the Company.
The above transactions are not expected to have a material impact on the earnings per share and
net asset value per share of the Group for the financial year ending 31 December 2007.
Group?). It will have an issued and paid-up capital of US$1.00.
Furthermore, the Group intends to expand its business to provide testing services in the PRC in
2007. GT Asia will be an investment holding company of its China subsidiaries and will have an
issued and paid-up capital of US$1,000.
Both GT International and GT Asia are wholly-owned subsidiaries of the Company.
The above transactions are not expected to have a material impact on the earnings per share and
net asset value per share of the Group for the financial year ending 31 December 2007.
The initial public offering of Global Testing Corporation Limited was sponsored by Stirling
Coleman Capital Limited (?Manager?). The Manager assumes no responsibility for the contents
of this announcement.
By Order of the Board
Paul Yang, Yao-Chou
Chief Executive Officer and Executive Director
5 March 2007
Might want to take a look at Electrotech....good dividend payout...
so any new outlook for this counter?
It will be good if we can also see some die-hard shortists being squeezed along the way.
If STATS is taken private, we are left with only few major semi-con stocks.
And if we start jig-sawing them ..... which one will matches which one ?
The sell down allows the flushing out of the stale bulls.
Seems as always, after a sell down (like the one in May 06) ..... the market climb up even higher .....
Isn't good for everyone if the positve sentiments from STATS flow into Global Testing ?
As far as I understand, technically, Global Testing appears to have found it's base at this level.
Not bad ..... no lack of interest ..... a couple of 500 lots buyers appearing .....
