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haha. ok. I'll be eagerly awaiting your kopi.
actually, i dun realli like counters that cheong too much in 1 day.
cheong up so fast, fall also so fast
stupid seksun investor relations never reply my queries leh.
sandbox, if i am not wrong, the last quarter their results were quite good but they didn't declare dividends. hopefully, they do so this round or else the share price going to tumble again
congrats. victorian. too bad. my assets are stuck in the crap stocks like SPC and Stamford tyres. HTL also staged a remarkable recovery
Thanks victorian. Hopefully they will have dividends as compared to the last quarter.. It has broken the resistance of .46 already...
Cheers.
Any idea when will be the announcement?
Any gurus can offer insights as to the sudden movement after hoving at .40 level for quite a while?
Thanks
most semicon related industry doesn't give dividends
my broker said that quite a number of big players release Seksun becos they were disappointed that it didn't pay any dividend the last round. however, they have a healthy cash balance and S44 credit balances
Does anyone know how much S44 credit bal does Seksun have?
I got a feeling that those Singapore Chinese Companies have a lot of balances, cos of their very prudent dividend policies.
Hi sandbox
Any kind of news, in any media, usually affects a company's share prices, good or bad.
Seksun CEO in yesterday's papers and today the price rises... what a coincedence...
Major resistance expected at $0.44 - $0.46.
Seksun is going to announce its 3Q06 results today. It is one of CIMB-GK's favourite tech stocks. The brokerage expects it to benefit from maiden contributions from disk clamp business from Seagate and post treble digit growth for the 3Q. It expects the strong momentum to continue into 4Q but warns of rising material cost which if continue may erode margin in year 07. Target is set at $0.60.
Share price has been range bound between $0.375 and $0.40 since hitting the earlier high of $0.415. Time for upward movement now.
It was higher on hopes that the company's earnings will rise as it benefits from global demand for HDDs and the success of a customer, Seagate-Maxtor, dealers said.
CIMB-GK analyst Jonathan Ng said in a note: "We believe Seksun is riding healthy HDD demand, the turnaround of its contract manufacturing business and the termination of its consumer electronics operation to post record earnings this year."
He added: "However, we believe its share price has yet to fully reflect its prospects."
Ng said positive news about the HDD industry and strong quarterly earnings for the company could result in a re-rating of its stock.
Meanwhile, he is keeping his "outperform" rating for stock and a target price of $0.60.
Original Posting done by Nostradamus:
CIMB-GK says MMI, Seksun and Unisteel are its top picks among the suppliers of components for hard-disk drives (HDDs) that are listed here.
The brokerage said the HDD industry was on track to achieve double-digit quarter-on-quarter growth in the third quarter and that it expected these companies to report results that would be catalysts for the price of their stocks.
"MMI and Seksun are two prime beneficiaries of expected volume increases from Seagate after the Seagate-Maxtor merger," CIMB-GK said in a note. "Unisteel will gain from the overall industry growth," it said.
The brokerage has raised its target price for MMI to $1.36, having increased its estimates of earnings for the company for the financial years ending June 2007 and June 2009 by 3-4%. CIMB-GK has raised its target price for Seksun to $0.60.
"Among the HDD component suppliers, we sense that Seksun experienced the strongest quarter-on-quarter expansion, gaining from its major customer's volume growth and possibly market-share gains," the brokerage said.
Its going to be a good year for seksun. But september orders for HDD normally is not alot. December has more HDD orders from Seagate which will be reported in 2007 Q1. So hold on yr share for now.
It is rising on expectations that more orders from key customer Seagate will drive earnings higher in the next three years.
DBSV said it expects net profit to rise from $10.8 mln last year to $19.5m this year, $21.5m next year and $26.7m in 2008.
"Seksun continued to gain market share in top cover and other hard disk drive components. Seagate is expected to accelerate its turnover and therefore, Seksun is expanding its output by 20% annually to meet greater future demand," DBSV said in a research note.
DBSV has a target price of $0.47.