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研報掘金丨廣發證券:維持瀾起科技“買入”評級,目標價108.78元
格隆匯 06-30 13:53

廣發證券研報指出,瀾起科技內存接口和SERDES雙輪驅動成長。從MRCD/MDB芯片來看,公司推出第二子代MRDIMM產品,已成功向全球主要內存廠商送樣。大模型推理本地部署和內存顆粒廠商模組化競爭兩個需求有望推動MRDIMM加速起量。PCIe Retimer芯片用於CPU和GPU的連接,充分受益國內算力的發展。目前依託自主研發SerDes 技術的核心優勢,公司正在積極佈局PCIe Switch等新產品。考慮服務器賽道景氣度、公司優勢卡位、DDR5滲透節奏以及可比公司估值,給予公司2025年合理PE估值50倍,公司合理價值為108.78元/股,維持“買入”評級。

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