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《大行報告》高盛引述華虹(01347.HK)指對需求前景保持積極 目標提升8寸晶圓產品平均售價
高盛近日發表報告表示,於上週五(23日)召開的在中國半導體和5G系列研討會上,該行與華虹半導體(01347.HK)管理層舉行了電話會議,投資者的主要問題集中在公司在12寸晶圓廠產能擴張和盈利能力、MCU(微控制器)、IGBT (絕緣柵雙極型晶體管)等關鍵產品的需求前景、以及8寸晶圓廠的晶圓價格趨勢。

該行指總體而言,華虹半導體管理層對需求前景保持積極基調,並重申其12寸晶圓廠產能擴張計劃(到2021年年底會達到6.5萬)和利潤率改善。公司維持目標,包括提高8寸晶圓產品結構的平均售價及今年將其8寸晶圓廠的毛利率提高至30%。從產品來看,公司計劃增加MCU、IGBT、CIS、NOR flash等的產能,主要是基於當地客戶的需求和市場增長強勁。

高盛表示,維持對華虹「買入」評級,12個月目標價54.5港元不變,該行預計華虹將在這一年遷移到28納米制程,其毛利率將恢復至30%左右,該行預計公司於2025年之後增長將趨於穩定。

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