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Analysts Raise Kingboard's Price Target Following Strong Q3 Results
Electronic Technology · Semiconductors · economic_daily · 2026-11-04
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Kingboard's strong third-quarter earnings and positive outlook have prompted analysts to upgrade their profit forecasts and price targets for the company.
What Happened
Strong Quarterly Performance: Kingboard reported a robust third-quarter gross margin of 33.9%, driven by product mix optimization and mid-single-digit price hikes. ABF substrate utilization reached 90%, contributing significantly to earnings that surpassed market expectations.
Positive Outlook: Analysts anticipate that continued pricing power will drive a quarter-over-quarter revenue increase of over 10% in the fourth quarter. The company's operational momentum is expected to remain strong as new capacity comes online in the coming years.
Capital Expenditure Plans: The company has committed 59.8 billion TWD in new capital expenditures for land acquisition and facility construction. Planned spending for 2026 and 2027 is set at 20 billion TWD and 18-20 billion TWD respectively, supporting long-term ABF substrate capacity expansion.
Growth Drivers: CPU and GPU demand, particularly from Nvidia and AMD, remains the primary growth catalyst for the company's ABF business. Analysts expect Kingboard to benefit from its strong market share in high-performance computing through 2027.
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