2 stories mentioning TPE:3034Updated 52d ago
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Novatek Microelectronics (TPE:3034) has an average rating of hold and mean price target of NT$434.80, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Novatek Microelectronics (TPE:3034) posted first-quarter net income of NT$3.77 billion, down 28.4% from a year earlier, amid weaker smartphone demand, according to a Thursday Taiwan Exchange filing.Shares gained over 1% in Friday's late morning trade.Quarterly, profit rose 2.1%.First-quarter revenue rose 1.4% quarter-on-quarter to NT$23.15 billion, supported by growth in the SoC business, though revenue declined 14.7% annually.The company proposed a cash dividend of NT$23 per common share, representing a payout ratio of 85.61%.For the second quarter, Novatek forecast revenue of NT$27.5 billion to NT$28.5 billion, with gross margin projected at 38% to 41% and operating margin at 16% to 19%, the filing said.
