AEM Holdings (AEM)

Results

AEM Holdings announces net profit of $15.6 mil for 1QFY2023, down 61.8% y-o-y

AEM says the exceptionally high base set in 1QFY2022 was due to the volume ramp up to support its key customer’s new platforms.

Broker's Calls

CGS-CIMB stays 'neutral' on tech manufacturing sector, expects to see weak y-o-y revenue growth or declines in 1QFY2023

Among the companies, analysts William Tng and Izabella Tan expect Aztech to post the best y-o-y net profit growth for 1QFY2023.

Broker's Calls

CGS-CIMB sees AEM's 'possible recovery' from 2HFY2023 and potential earnings recovery for FY2024

On the company's share price decline, CGS-CIMB believes that the market has priced in a weaker performance for the FY2023.
DBS downgrades AEM to 'sell' as it sees 'testing times' ahead - THE EDGE SINGAPORE

Broker's Calls

DBS downgrades AEM to 'sell' as it sees 'testing times' ahead

The team at DBS has also lowered its target price to $2 from $3.19 previously.

Results

AEM records highest annual revenue at $870.5 mil, provides conservative outlook for 2023

The company posted FY2022 earnings of $126.8 million, up 38% y-o-y.

Semiconductor

AEM opens new 365,000 sq ft manufacturing plant in Penang

In its statement, AEM noted that the new plant will help the group tap into the region’s growth opportunities and talents.

Broker's Calls

Maybank Securities downgrade AEM Holdings to 'sell' as margins could be impacted

In addition to the downgrade, Maybank's Jarick Seet has also lowered his target price to $3.08.
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