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《大行報告》摩通下調中芯(00981.HK)目標價至19元 評級「中性」
阿思達克 08-15 10:08
摩通發表報告指,中芯(00981.HK)第二季業績大致合乎預期,惟第三季業績指引平淡,收入料增長3%至5%,但由於產能使用率較低和平均售價壓力,特別是8英寸產品,毛利率呈下降趨勢,料介乎18%至20%。 報告認為,由於8英寸晶圓需求疲軟,加上新的12英寸晶圓可能降價,平均售價壓力可能仍會持續3至4個季度。考慮到全球無晶圓廠供應商的高庫存,電源管理集成電路(PMIC)垂直整合製造商(IDM)的嚴重價格壓力,加上內地終端需求復甦緩慢,因此需求復甦可能需要一些時間。該行將中芯目標價由21降至19元,評級「中性」。
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