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Will drop to below 0.30 in these few days, beware!
from CIMB today... for info purpose only. Don't think there is any impact on price
Global Testing Corporation
increased performance and improves test yields. This is the second patent issued to the
Group by the Intellectual Property Office, Ministry of Economic Affairs. The Co expect the
patented docking equipment to increase testing reliability and improved yields, and to
provide customers shorter time to market advantage. The new patent is valid for the first
three years and renewable thereafter. (Global Testing Corporation)
has patented an IC test docking equipment which deliversFrom today's BT...
Another chips tester that may be bought out is Global Testing. The firm, which provides wafer sorting and testing services to big names like Marvell, Taiwan Semiconductor Manufacturing (TSMC) and Nvidia, ended the week with a PE of 10.72 - lower than the average PE of 24.74 for its peer group. Its P/B of 1.21 is also lower than the industry's average figure.
I agree with Joeyttk, today, 21.6.2007, at 15:56:55 some BBs buying 3,761,000 shares of Global Test at 0.31. Global Test is charging up, up, ip and away. Cheers!!!!!! Cheers!!!!!! Cheers!!!!!!!!!!!!!!!!!!!!!!
Today trading between 0.30 to 0.315.....!!!!!!!!
| 16:04:51 | Sell Down | 0.310 | +0.005 | 15,304 | 9 |
| 16:04:01 | Sell Down | 0.310 | +0.005 | 15,295 | 100 |
| 16:02:52 | Buy Up | 0.315 | +0.010 | 15,195 | 20 |
| 16:01:48 | Buy Up | 0.315 | +0.010 | 15,175 | 30 |
| 16:01:46 | Buy Up | 0.315 | +0.010 | 15,145 | 10 |
| 15:58:15 | Buy Up | 0.315 | +0.010 | 15,135 | 20 |
| 15:57:45 | Sell Down | 0.310 | +0.005 | 15,115 | 20 |
| 15:57:45 | Buy Up | 0.315 | +0.010 | 15,095 | 1 |
| 15:57:41 | Sell Down | 0.310 | +0.005 | 15,094 | 40 |
| 15:57:23 | Sell Down | 0.310 | +0.005 | 15,054 | 1 |
| 15:57:01 | Sell Down | 0.310 | +0.005 | 15,053 | 30 |
| 15:56:55 | Buy Up | 0.310 | +0.005 | 15,023 | 3,761 |
| 15:52:00 | Sell Down | 0.305 | - | 11,262 | 30 |
| 15:48:40 | Buy Up | 0.310 | +0.005 | 11,232 | 100 |
| 15:47:08 | Sell Down | 0.305 | - | 11,132 | 20 |
| 15:41:13 | Buy Up | 0.310 | +0.005 | 11,112 | 8 |
| 15:40:53 | Sell Down | 0.305 | - | 11,104 | 50 |
Any idea what is brewing ?? Good news coming ???
I am actually thinking of switching my funds to another better performing counter. Last night queued to sell my entire holdings. This morning decided to amend the order and sell part of it. Luckily did that otherwise all would have been sold at 29.5 cents.
Cheers to all those vested !!!
the wait is over man.. it's global test time..
| 15:11:25 | 0.305 | 883,000 | Buy Up |
| 15:11:25 | 0.305 | 500,000 | Buy Up |
| 15:11:24 | 0.305 | 1,000,000 | Buy Up |
| 15:11:24 | 0.305 | 1,500,000 | Buy Up |
| 15:11:07 | 0.305 | 500,000 | Buy Up |
| 15:11:06 | 0.300 | 128,000 | Buy Up |
| 15:11:02 | 0.300 | 3,000,000 | Buy Up |
| 15:11:01 | 0.300 | 3,000,000 | Buy Up |
Good BUY.
Provided macroeconomy good!
I'm still learning to read the trading data, hope anyone could correct me in my interpretation if there is off the mark.
To me, it seems from today and 5/6/07 transactions that bbs accumulated at 26.5 (the last 5 mins and early morning, first 30mins). They need to let it rest abit and px has to go higher than 27c or more to make effort worthwhile. Just like cosco, I feel that the px was liberately depressed for the past 2 weeks, and today cheong.
| 17:05:03 | 0.265 | 2,000,000 | Buy Up |
| 16:59:12 | 0.265 | 30,000 | Sell Down |
| 16:58:14 | 0.265 | 2,143,000 | Buy Up |
| 16:55:31 | 0.265 | 10,000 | Buy Up |
| 16:48:27 | 0.265 | 100,000 | Buy Up |
| 16:45:27 | 0.265 | 10,000 | Buy Up |
| 16:38:50 | 0.265 | 1,000 | Buy Up |
| 16:33:46 | 0.265 | 20,000 | Buy Up |
| 16:27:37 | 0.260 | 20,000 | Sell Down |
| 16:24:36 | 0.260 | 2,000 | Sell Down |
| 15:35:53 | 0.260 | 40,000 | Sell Down |
| 15:21:40 | 0.260 | 20,000 | Sell Down |
| 15:13:26 | 0.260 | 10,000 | Sell Down |
| 15:07:57 | 0.260 | 3,000 | Sell Down |
| 14:55:38 | 0.265 | 245,000 | Sell Down |
| 14:54:16 | 0.265 | 5,000 | Buy Up |
| 14:53:57 | 0.265 | 200,000 | Buy Up |
| 14:53:14 | 0.265 | 90,000 | Buy Up |
| 14:51:16 | 0.265 | 300,000 | Buy Up |
| 14:50:29 | 0.265 | 30,000 | Buy Up |
| 14:39:09 | 0.265 | 1,000 | Buy Up |
| 14:34:26 | 0.265 | 32,000 | Buy Up |
| 14:33:43 | 0.265 | 30,000 | Buy Up |
| 14:30:23 | 0.265 | 332,000 | Sell Down |
| 14:25:23 | 0.265 | 100,000 | Sell Down |
| 14:22:17 | 0.265 | 100,000 | Sell Down |
| 14:18:12 | 0.265 | 30,000 | Sell Down |
| 14:09:30 | 0.265 | 3,000 | Buy Up |
| 14:08:04 | 0.265 | 30,000 | Buy Up |
| 14:07:33 | 0.265 | 20,000 | Buy Up |
| 14:06:42 | 0.265 | 30,000 | Buy Up |
| 14:06:41 | 0.265 | 10,000 | Buy Up |
| 14:06:35 | 0.265 | 200,000 | Buy Up |
| 14:06:08 | 0.265 | 100,000 | Buy Up |
| 14:02:26 | 0.265 | 200,000 | Buy Up |
| 14:01:54 | 0.265 | 10,000 | Buy Up |
| 13:59:02 | 0.265 | 28,000 | Sell Down |
| 12:01:50 | 0.265 | 20,000 | Buy Up |
| 12:01:49 | 0.265 | 100,000 | Buy Up |
| 11:58:47 | 0.265 | 30,000 | Buy Up |
| 11:57:44 | 0.265 | 20,000 | Buy Up |
| 11:55:00 | 0.265 | 413,000 | Sell Down |
| 11:54:50 | 0.265 | 400,000 | Sell Down |
| 11:54:35 | 0.265 | 150,000 | Sell Down |
| 11:54:04 | 0.265 | 200,000 | Sell Down |
| 11:52:55 | 0.265 | 200,000 | Sell Down |
| 11:52:14 | 0.265 | 10,000 | Sell Down |
| 11:35:03 | 0.265 | 10,000 | Sell Down |
| 11:15:00 | 0.265 | 50,000 | Sell Down |
| 11:10:05 | 0.265 | 200,000 | Sell Down |
| 11:09:16 | 0.265 | 20,000 | Sell Down |
| 11:07:19 | 0.265 | 20,000 | Sell Down |
| 11:07:14 | 0.265 | 20,000 | Sell Down |
| 11:06:07 | 0.265 | 9,000 | Sell Down |
| 10:57:46 | 0.265 | 100,000 | Sell Down |
| 10:51:20 | 0.265 | 20,000 | Sell Down |
| 10:48:17 | 0.265 | 8,000 | Sell Down |
| 10:46:35 | 0.265 | 15,000 | Sell Down |
| 10:27:47 | 0.265 | 100,000 | Sell Down |
| 10:25:17 | 0.265 | 10,000 | Sell Down |
| 10:08:57 | 0.265 | 50,000 | Sell Down |
| 10:03:25 | 0.270 | 10,000 | Buy Up |
| 09:59:57 | 0.270 | 50,000 | Buy Up |
| 09:54:10 | 0.270 | 50,000 | Buy Up |
| 09:51:21 | 0.265 | 33,000 | Sell Down |
| 09:48:25 | 0.265 | 40,000 | Sell Down |
| 09:44:58 | 0.270 | 2,000 | Buy Up |
| 09:32:35 | 0.265 | 243,000 | Buy Up |
| 09:32:34 | 0.265 | 100,000 | Buy Up |
| 09:32:30 | 0.265 | 100,000 | Buy Up |
| 09:32:29 | 0.265 | 100,000 | Buy Up |
| 09:32:27 | 0.265 | 50,000 | Buy Up |
| 09:32:06 | 0.265 | 200,000 | Buy Up |
| 09:31:55 | 0.265 | 99,000 | Buy Up |
| 09:31:51 | 0.265 | 99,000 | Buy Up |
| 09:31:49 | 0.265 | 1,290,000 | Buy Up |
| 09:26:53 | 0.265 | 30,000 | Buy Up |
| 09:24:43 | 0.260 | 10,000 | Sell Down |
| 09:20:53 | 0.265 | 20,000 | Buy Up |
| 09:09:32 | 0.265 | 6,000 | Buy Up |
| 09:09:27 | 0.260 | 200,000 | Sell Down |
| 09:09:08 | 0.265 | 200,000 | Buy Up |
| 09:06:58 | 0.265 | 20,000 | Buy Up |
| 09:02:08 | 0.265 | 10,000 | Buy Up |
| 09:00:31 | 0.265 | 100,000 | Buy Up |
| 08:59:03 | 0.265 | 263,000 | X |
From UOB KH today. (not an inducement to buy)
KKR moves into the picture
KKR brings spice to Global Testing.
Kravis Roberts & Co (KKR) has bought US$230m of 7-year convertible bonds
issued by Yageo Corporation. KKR will own a 16.1% stake in Yageo if the bonds
are fully converted at conversion price of NT16.15, making it the largest foreign
shareholder in Yageo. Yageo manufactures passive components such as
resistors, capacitors and inductors. It currently ranks No.1 in chip-resistors, No.
3 in MLCCs (multi-layered ceramic capacitors) and No. 2 in ferrite products on
a worldwide basis.
Yageo is the largest shareholder with 18.2% stake in Global Testing. The entry
of KKR could force Yageo to accelerate the process of divesting non-core
assets, such as Global Testing. This could lead to acquisition by private equity
firms or merger with other players in the Assembly & Test space.
Private equity powerhouse KohlbergSequential growth in 2Q07.
of 10-15% in 2Q07 as majority of customers have worked through their excess
inventories. Capacity utilisation is expected to increase to from 58% in 1Q07 to
70% in 2Q07. Major customer TSMC has forecast revenue of NT$73b-75b for
2Q07, which represents a growth of 12.5-15.6% on a qoq basis. There is
growing demand for chips used in video game consoles (Marvell) and digital TVs
(Sunplus, Mstar, Himax and Techwell). Demand for PC-related chips will
increase with the migration to Windows Vista in 2H07.
The recovery in 2H07 will be driven by three new projects:
Global Testing guided sequential revenue growthDiversified into PC-related chips via Nvidia and AMD.
commenced wafer sorting for PC graphics chips from Nvidia in Mar 07. Nvidia
has also increased the volume for pre-production testing at its facility in
Sunnyvale, California. Global Testing was also qualified by AMD and has started
to provide wafer sorting for ATi?s graphics chips used in PCs and video game
consoles in May 07. Both projects involve 12-inch bumped wafers and provide
higher revenue per hour of test time due to technical complexity requiring vertical
probe cards. Global Testing is able to utilise existing testers for these projects
as more PC-related chips have adopted Design for Testability technology.
Global TestingMore from Marvell in 3Q07.
acquired Intel?s communications and application processor business. The
business unit develops processors based on XScale technology for smart
phones and personal digital assistants such as Blackberry 8700, Palm Treo and
Motorola Q. Wafer sorting services for the new range of Communications
products will start contributing in 3Q07.
Global Testing?s largest customer Marvell hasOverlooked and undervalued.
semiconductor Assembly & Test with 2007 PE at 11.6x (UTAC: 12.1x),
EV/EBITDA at 4.0x (UTAC: 4.5x) and P/B at 1.0x (UTAC: 1.8x). Reiterate BUY
with target price at S$0.33 (previously S$0.42), or FY07 EV/EBITDA of 5x. Share
price should be well supported by NTA/share of S$0.26 as at Mar 07.
Global Testing offers the cheapest exposure forAgreed. The next few days will decide whether Global Test go up North or maintain sideway. Looking at the last hour trading, it seen to me that the BB are accumulating at $0.27, hence, chances of up swing are much higher.
Technical analysis is good. But it very much depended on tomorrow performance.
Its NAV and PE is low. Even thought it not increase inmediately, it has high potential to go beyond 30 cents...