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中芯(00981.HK)見20.7元再創逾16年高遇阻倒跌逾6%成交急增 摩通重申減持
阿思達克 05-18 14:42
美國商務部限制全球晶片商向華為供貨,中方警告會反制。內地半導體及國產芯片今天分別跌1.6%及2.7%。本港手機設備股全面遭拋售,瑞聲(02018.HK)、丘鈦(01478.HK)、比亞迪電子(00285.HK)及舜宇(02382.HK)依次跌幅擴至逾7%-10.5%。

遭摩通重申「減持」的中芯國際(00981.HK)今早高見20.7元連續第二再創逾16年高遇阻,半日收倒跌後,下午獲利盤進一步湧現,最低見17.9元,現造17.96元,倒跌6.3%,成交激增至3.36億股,涉資64.75億元。

摩通指,中芯成熟技術應用有健康進展,由於客戶於國內本地化,中芯在指紋、電源管理集成電路及閃存芯片等都正在捕捉需求,故上調公司今明兩年每股盈測16%及1%。不過,該行預期中芯1銷售增長及毛利率或於今年上半年見頂,並可能於未來數季有所回落,加上該股現價相當於市賬率達2倍歷史高位,該行認為估值被高估,故重申中芯「減持」評級,目標價由10.5元升至13元。

不過,高盛指,中芯國際旗下中芯南方上周尾獲國家集成電路基金II及上海集成電路基金II注資後,令其持股由50.1%減至38.5%,於未來所負擔虧損也會減少。此外,該行預計中芯國際盈利增長將受到海思半導體等國內客戶結構性需求增長推動,以2021年預期市賬率約2.1倍計,該行維持中芯目標價22.2元及「買入」評級,以及續列入「確信買入」名單內。

中芯股份於2004年3月以每股2.69元來港上市後,股份持續尋底,公司於2016年9月將股份10合1,之後股價反覆回升。

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