by winston » Mon Nov 18, 2019 1:23 pm
not vested
SMIC(981)
Analysis:
Revenue was $816.5 million in 3Q19, an increase of 3.2% QoQ from $790.9 million in 2Q19, compared to $850.7 million in 3Q18.
Gross profit was $169.8 million in 3Q19, an increase of 12.3% QoQ from $151.2 million in 2Q19, compared to $174.5 million in 3Q18.
Gross margin was 20.8% in 3Q19, compared to 19.1% in 2Q19, 20.5% in 3Q18.
The Company`s third quarter revenue exceeded guidance, as customer inventory digested, utilization rate increased, and advanced mask revenue rose.
China-region customer demand was strong, contributing 60.5% to revenue in Q3 2019, a sequential increase of 10%.
Consumer application revenue grew 16% quarter over quarter, with Internet of Things and smart home driving demand. We expect revenue in the fourth quarter will continue to grow.
Strategy:
Buy-in Price: $10.40, Target Price: $12.00, Cut Loss Price: $10.00
Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"