CGS-CIMB Research analyst William Tng has reiterated his ‘add’ call for Grand Venture Technology (GVT) ahead of its 1HFY2021 ending June results that will be released in mid-August.

Tng believes that GVT will report net profit growth of more than 50% y-o-y for the 1HFY2021 following a surge in sales of semiconductors globally in April to US$41.8 billion ($55.3 billion), up 21.7% y-o-y and 1.9% m-o-m. “SIA noted that the y-o-y growth was driven by rising sales across a range of chip products and throughout each of the world’s major regional markets,” says Tan in a June 10 research note.

In addition, Tan notes that the World Semiconductor Trade Statistics industry trade group has forecasted worldwide industry sales at US$527.2 billion, up 19.7% y-o-y.

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