Venture

Re: Venture

Postby winston » Fri Apr 26, 2019 10:00 am

not vested

Venture Corp: Building its next ad-Venture

Venture Corporation Ltd’s (Venture) 1Q19 results came in above our expectations.

Revenue rose 8.5% YoY to S$928.8m, due to broad-based growth registered across the group’s technology domains and customers’ new product introductions.

This continues from the V-shape top-line recovery that we have expected post-3Q18.

Core PATMI came in at S$91.0m, which comprised 23.2% of our full-year forecast. Core PATMI margin came in at 9.8%, which is a 1Q record for the group.

To position itself for the long term, management noted that it is still expanding its presence in the area of life sciences, leveraging its strong reputation.

Separately, the group has also managed to secure a new customer, which is one of the leading companies involved in producing test equipment for chip manufacturing.

Venture continues to demonstrate stronger margins than its peers, and remains in a healthy net cash position.

We maintain our FV of S$20.89 and our BUY rating.

Source: OCBC
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103047
Joined: Wed May 07, 2008 9:28 am

Re: Venture

Postby behappyalways » Sun Apr 28, 2019 4:38 pm

Venture Corp reports 8.6% rise in 1Q earnings to $90.9 mil on higher revenue
https://www.theedgesingapore.com/ventur ... er-revenue
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 21159
Joined: Wed Oct 15, 2008 4:43 pm

Re: Venture

Postby winston » Tue Apr 30, 2019 3:26 pm

not vested

Venture gets 'buy' from OCBC, DBS but Maybank says watch out for near-term volatility

By Samantha Chiew

SINGAPORE (Apr 29): Analysts are mostly positive on Venture Corporation after it announced that its 1Q19 earnings have increased by 8.9% y-o-y to $90.9 million.

This was mainly due to an 8.5% y-o-y increase in revenue to $928.8 million, despite pricing pressures and intense competition in the business environment.

On a fully diluted basis, earnings per share (EPS) rose to 31.5 cents in 1Q19, compared to 28.8 cents in 1Q18.

OCBC Investment Research is keeping its “buy” call on Venture with a target price of $20.89.

The group’s results came in above the research house’s expectations, with core PATMI margin coming in at a 1Q record of 9.8%.

Despite the positive results, Venture may see 2Q19 impacted by customer product transitions as well as general cautiousness given the ongoing Sino-US trade tensions.

In a Friday report, analyst Joseph Ng says, “However, we believe that on a full-year basis, these headwinds should be more than offset by scheduled customers’ new product launches in 2H19, as well as contribution from newly acquired customers.”

To position itself for the long term, management noted that it is still expanding its presence in the area of life sciences, leveraging its strong reputation.

The increasing complexity of equipment such those required for diagnostics will also present more value creation opportunities down the road.

Furthermore, with the group’s growth on track, DBS Group Research also continues to rate Venture a “buy” with a target price of $21.70.

In a Friday report, analyst Lee Keng Ling says, “Venture stands out for its hard-to-replicate ecosystems and unique positioning at the forefront of technology.

Its coveted partnerships with global technological leaders across various attractive end-markets have allowed the group to command industry-leading margins and are testament to its success in the area of value-creation.”

Meanwhile, with record R&D expenses and inventory levels – possible leading indicators for the group - coupled with strong earnings outlook by key customers, the group provides confidence in its ability to at least sustain its robust growth momentum over the medium term.

On the other hand, Maybank Kim Eng believes that Venture’s near-term outlook is “cloudy”. Hence, it has downgraded its recommendation on Venture to “hold” from “buy”.

But Maybank has increased its target price to $19.74 from $19.23 previously to reflect the respectable set of results and its ROE-g/COE-g TP 3% on an unchanged price-to-book ratio of 2.2 times.

Venture has warned that near-term performance could be volatile as a result of customers’ product transitions into new generations, but highlights this will be mitigated by new product launches in 2H19.

In a Friday report, analyst Lai Gene Lih says, “The volatility may result in a tough YoY earnings comparison in the next quarter, in our view.”

While 2H19 is expected to be seasonally stronger than 1H19, VMS has hinted that the traditional 45:55 revenue seasonality pattern in 1H:2H may be less pronounced this year, mainly due to a mixed outlook from its broad base of more than 100 customers as a result of protracted trade tensions and the global economic slowdown.

“We recommend investors await a more attractive entry point, and/or when it is becomes apparent earnings volatility has passed,” says Lai.

As at 12.40pm, shares in Venture are trading at $17.58 or 2.2 times FY19 book with a dividend yield of 3.6%.

Source: The Edge

https://www.theedgesingapore.com/ventur ... 401b309bc7
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103047
Joined: Wed May 07, 2008 9:28 am

Re: Venture

Postby winston » Thu May 02, 2019 11:11 am

vested

Venture Corp (VMS SP): The US Food and Drug Administration (FDA) has cleared Philip Morris International (PM US) to sell its iQOS product in the US.

Altria Group (MO US) will sell the iQOS in the US as PM mainly operates overseas.

MO plans to start selling the product in Atlanta this summer.

iQOS is a key diversification strategy for both companies as US smoking rates hit new record lows.

Source: KGI
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103047
Joined: Wed May 07, 2008 9:28 am

Re: Venture

Postby winston » Thu May 02, 2019 4:25 pm

It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103047
Joined: Wed May 07, 2008 9:28 am

Re: Venture

Postby winston » Fri May 03, 2019 9:27 am

vested

IQOS approved for sale in the US

The FDA has approved IQOS 2.4 for sale in the US.
IQOS will go on sale in summer, starting with Atlanta.
We project minimal earnings impact for now.

Our fundamental call remains Hold. Our target price of Sin$17.88 is also unchanged, still based on 12.5x P/E (0.5 s.d. below the 12-year forward average P/E of 15.4x).


Source: CIMB

https://brokingrfs.cimb.com/PTl8WK5bYWb ... fzeUw2.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 103047
Joined: Wed May 07, 2008 9:28 am

Previous

Return to U to Z

Who is online

Users browsing this forum: Google [Bot] and 1 guest

cron