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CIMB keeps AEM at 'buy' as it awaits next catalyst

PC Lee
PC Lee4/26/2018 01:29 PM GMT+08  • 2 min read
CIMB keeps AEM at 'buy' as it awaits next catalyst
SINGAPORE (Apr 26): CIMB says 1Q18 results of AEM, the manufacturer of semiconductor test handlers, came in below its expectations due to higher expenses from its three recent acquisitions.
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SINGAPORE (Apr 26): CIMB says 1Q18 results of AEM, the manufacturer of semiconductor test handlers, came in below its expectations due to higher expenses from its three recent acquisitions.

CIMB is adjusting upwards our other operating expenses forecasts for FY18 to reflect the M&A-related professional fees of $0.5 million incurred in 1Q18.

Meanwhile, the research house believes staff costs in FY18 will be higher than forecast previously as AEM is looking to hire more senior engineering talent as well as expenses to develop next-generation solutions.

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