"Notwithstanding near-term volatility, the semiconductor industry is well poised for growth, owing to the push towards digitalisation," states DBS analyst Ling Lee Keng in her May 12 note.
DBS Group Research has trimmed its target price of Grand Venture Technology, following its 1!FY2023 earnings that dropped by more than half over the year earlier quarter.
For the three months to March, GVT reported earnings of $1.5 million, down 58.3% y-o-y; revenue was down 17% y-o-y to $26.9 million. The drag was especially pronounced in GVT's semiconductor segment, as the worldwide industry grapples with a downturn.
