Stock Name: UNISEM
Company Name: UNISEM (M) BHD
Affin Investment Bank cut its target price on Unisem Berhad to RM1.36 from RM1.38 after the semiconductor firm's third-quarter results came in slightly below the bank's expectations.
Affin said a slower-than-expected recovery in global demand for Unisem products could pose a risk to its 'add' call on the stock.
Unisem returned to the black after registering losses in the three previous quarters. The company reported a 58 percent rise in net profit for the third quarter compared with a year earlier, helped by lower operating expenses, higher foreign exchange gains and changes in product mix, it said in a Bursa Malaysia filing on Thursday.
Affin attributed the turnaround to, among others, "further cost discipline by the group" and "improvement in product mix."
At 10.17am, Unisem was up RM2.63 at RM0.975 while the benchmark composite index was down 0.26 percent at 1,636.84 points.
Company Name: UNISEM (M) BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 1.36 |
Affin Investment Bank cut its target price on Unisem Berhad to RM1.36 from RM1.38 after the semiconductor firm's third-quarter results came in slightly below the bank's expectations.
Affin said a slower-than-expected recovery in global demand for Unisem products could pose a risk to its 'add' call on the stock.
Unisem returned to the black after registering losses in the three previous quarters. The company reported a 58 percent rise in net profit for the third quarter compared with a year earlier, helped by lower operating expenses, higher foreign exchange gains and changes in product mix, it said in a Bursa Malaysia filing on Thursday.
Affin attributed the turnaround to, among others, "further cost discipline by the group" and "improvement in product mix."
At 10.17am, Unisem was up RM2.63 at RM0.975 while the benchmark composite index was down 0.26 percent at 1,636.84 points.
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