Foxsemicon Integrated Technology Inc., EPS up 7.9%: What do analysts think will happen next?

It was a good week Foxsemicon Integrated Technology Inc. (TWSE:3413) shareholders, as the company just announced its latest annual results, with its stock price rising 8.9% to NT$270. The results were positive overall. Revenue of NT$13.0b was in line with analyst forecasts, but Foxsemicon Integrated Technology surprised with its statutory profit of NT$20.48 per share, slightly better than expected. Analysts typically update their forecasts with each earnings report, and we can use their forecasts to determine whether their view of the company has changed or if there are any new concerns to be aware of. . Our readers will be pleased to see that we have aggregated the latest statutory forecasts to see if the analysts have changed their mind on Fox Semicon Integrated Technology after the latest results.

Check out our latest analysis for Foxsemicon Integrated Technology.

Taking into account the latest results, the current consensus from Foxsemicon Integrated Technology's 2 analysts is for revenue in 2024 of NT$14.7b. This reflects a solid 12% increase in revenue over the last twelve months. Statutory per share is expected to be NT$20.77, about the same as the previous 12 months. Prior to this report, analysts had modeled 2024 revenue of NT$13.7b and earnings per share (EPS) of NT$17.41. So there seems to be a clear increase in optimism about Foxsemicon Integrated Technology's future following the latest report. In particular, his earnings per share forecast has improved significantly.

With these upgrades, we're not surprised that the analysts have increased their price target by 19% to NT$251 per share.

Of course, another way to analyze these forecasts is to measure them against the industry itself. Analysts say the same thing will happen through the end of 2024, with sales expected to grow by 12% on an annualized basis. This is consistent with an annual growth rate of 14% over the past five years. Comparing this to the broader industry, analyst forecasts (aggregate) suggest that revenue will grow 14% per year. As such, Foxsemicon Integrated Technology is expected to maintain its revenue growth rate, which is roughly in line with the overall industry growth rate.

conclusion

The biggest takeaway for us is the improvement in consensus earnings per share, suggesting a clear improvement in sentiment around Fox Semicon Integrated Technology's earnings potential next year. Revenue forecasts have also been revised upwards, but as we've seen before, projected growth is expected to remain roughly in line with the industry as a whole. We note an increase in the price target, suggesting that the analyst believes the intrinsic value of the business is likely to improve over time.

Based on this idea, we think the long-term outlook for the business is far more relevant than next year's earnings. We have analyst forecasts for Foxsemicon Integrated Technology going out to 2025, which are available for free on our platform here.

Before you take the next step, you need to know the following: 1 warning sign for Foxsemicon Integrated Technology What we discovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodologies, and articles are not intended to be financial advice. This is not a recommendation to buy or sell any stock, and does not take into account your objectives or financial situation. We aim to provide long-term, focused analysis based on fundamental data. Note that our analysis may not factor in the latest announcements or qualitative material from price-sensitive companies. Simply Wall St has no position in any stocks mentioned.