MI

Sector: Semiconductor / ATE

Analyzed on 07/11/2021

MI is currently consolidating in a range of RM3.80 +/- near its EMA25 and 50 level. Technical wise, there is no significant indicators where it might go. RSI is also at a median level. Investors need some patience to see growth in its share price.

Earnings wise, MI has just released its Q3’21 report which record RM114mil revenue and net profit of RM18.9mil. The slight drop in net profit is due to various factors such as strong price competition in China market and surge in precious metal prices and logistic cost. However, the Group has achieved exciting milestones by selling its maiden sale of laser-assisted bonding (LAB) machine to a South Korean phone maker,  and see its material business unit (SMBU) to increase in revenue contribution. Thus, PublicInvest research gave a Target Price of RM5.04 for MI.

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