Largan (3008-TW) held a BOD meeting today on April 22nd. The company is proposing cash dividend of NTD68 per share with a total of NTD9.121bn (37.43%), higher than the expectation of NTD63 per share. Calculated by today’s closing price of NTD4,570, cash dividend yield is about 1.5%.
Largan held an investors conference recently and held a positive outlook toward its 2Q19. performance. It is expected that its Apr19 and May19 revenues may increase sequentially every month and its 2Q19 revenue may increase YoY. However, whether its 2Q19 GM will increase remain wait-and-see.
On the other hand, foreign investors also hold positive view on Largan’s 2Q19 revene/earnings. The European foreign investor increased the target price from NTD5,850 to NTD6,000. Other investors in Europe,the United States and Japanese also raised their target price to an average of NTD5,200.
Largan’s 1Q19 revenue was NTD9.824bn with GM of 64.24% (-5.16% QoQ, +0.84% YoY). Its 1Q19 net profit was NTD5.054bn (-21.98% QoQ, +25.75% YoY) with EPS of NTD37.68, meeting expectations. Largan’s CEO Adam Lin told that its Apr19 revenue is expected to be better than Mar19’s, and its May19 revenue is expected to be better than Apr19’s.