Hi-P International

Maybank KE cuts Hi-P to 'sell' after share price run-up
SINGAPORE (April 9): Maybank Kim Eng is downgrading its call on Hi-P International to “sell” from “hold” previously with an unchanged price target of $1.22, which is based on 1.5 times FY19E price-to-book value. This is because the research house now deems Hi-P as overvalued at 14 times FY19E P/E versus its global peers’ 10.5 times, and its own 1 SD above the three-year mean of 12.3 ...
Hi-P reports 25% fall in 4Q earnings to $14.8 mil on lower demand
SINGAPORE (Feb 21): Hi-P International, the global contract manufacturer of smart phones, tablet computers and other consumer electronics, reported 4Q18 earnings fell 24.9% to $14.8 million from $44.8 million for 4Q17. Amid uncertain economic conditions, 4Q18 revenue decreased 10.2% to $441.9 million from a year ago as a result of a decline in market demand from various segments. Gross ...
Venture Corp the safest bet amid tech sector volatility, says Maybank
SINGAPORE (Jan 8): Maybank Kim Eng remains “neutral” on Singapore’s technology sector while lowering its target prices across the relevant stocks under its coverage. This comes after the research house cut its earnings forecasts to factor in heightened macro uncertainties, as well as higher cost of equity due to increased volatility within the sector. In a Monday report, Maybank ...
Hi-P kept at 'hold' by Maybank on expectations of tough FY19
SINGAPORE (Nov 12): Maybank KimEng is maintaining Hi-P International at “hold” on expectations of a tough FY19. Maybank says Hi-P’s 3Q18 PATMI of $33.8 million was ahead of its expectations as it had overestimated the margin erosion from pricing pressure and lower yields. However, sales fell 8% y-o-y due to less high-component content projects, weaker market demand, and slower ramp-up ...
Hi-P International's latest profit warning draws mixed reactions from analysts
SINGAPORE (Oct 15): Maybank Kim Eng is cutting its earnings estimates for Hi-P International after the industrial mould manufacturing company lowered its earnings guidance for the second time this year, saying it expected lower y-o-y sales and profit compared to its earlier guidance of higher revenue and similar profit. As a result, the research house has cut its target price by 34% to 84 ...
Hi-P earnings estimates slashed by DBS due to margin worries from US-China trade war
SINGAPORE (Aug 2): DBS Vickers Securities is maintaining “hold” on Hi-P International with a lower price target of $1.21 compared to $1.80 previously, after cutting FY18F and FY19F earnings by 23% and 29% respectively to account for lower margins. The new target price is based on a 30% discount to peers’ average PE of 16 times, versus 20% discount previously, on blended FY18F and FY19F ...
Hi-P downgraded to 'hold' amid trade war fears; target price slashed
SINGAPORE (May 4): Maybank Kim Eng Research has downgraded Hi-P International to “hold” and slashed its target price by more than 40% to $1.45 after the electronics manufacturer negatively revised its guidance on multiple emerging headwinds. Previously, the brokerage had a “buy” recommendation on Hi-P with a target price of $2.43. The lower valuation comes after Maybank cut its ...
Hi-P posts 20% rise in 1Q earnings to $10.1 mil on higher revenue
SINGAPORE (May 2): Hi-P International, the contract manufacturer of smart phones, tablet computers and other consumer electronics, saw its earnings grow 20.0% to $10.1 million for the 1Q ended March, from $8.4 million a year ago. 1Q18 revenue rose 15.1% to $281.1 million, from $244.2 million a year ago, on the back of higher sales volume. As at end March, cash and cash equivalents stood at ...
Hi-P 4Q earnings more than double to $59.6 mil
SINGAPORE (Feb 13): Hi-P International reported 4Q17 earnings more than doubled to $59.6 million compared to $28.5 million in 4Q16. Revenue was 37.8% higher at $491.9 million from $356.8 million a year ago, due to higher sales volume resulting from the mass production of certain projects in the quarter. Cost of sales increased by 34.7% to $394.6 million from $293.0 million last ...
Hi-P started at 'buy' on strong turnaround
SINGAPORE (Dec 21): Maybank Kim Eng Research is initiating coverage on electronics manufacturer Hi-P International with a “buy” recommendation and a target price of $2.11. “Hi-P is entering a phase of record revenues and markedly improved earnings quality,” says analyst Lai Gene Lih in a Wednesday report. According to Lai, Hi-P has selectively moved way from unprofitable assembly ...