For the year ended Dec 2023, Grand Venture reported earnings of $5.5 million, down 58.4% y-o-y. Revenue in the same period was down 15.1% y-o-y to $111.3 million as the company bore the downturn of the semiconductor cycle that hit everyone in the industry.
Amanda Tan and Ling Lee Keng of DBS Group Research have kept their "buy" call on Grand Venture Technology (SGX:JLB
) following its FY2023 results.
However, they've slightly reduced their target price to 58 cents, from 60 cents on reduced margin assumptions for the current FY2024 and coming FY2025.
