UMS: (S$0.585) Weak 1Q16 results; eye potential pickup in 2H16
-1Q16 net profit of $3.4m (-55%) was dragged by weaker revenues (-26%) and FX losses
- For UMS, 2Q is expected to be subdued. However, SEMI World Fab Forecast expects front-end fab equipment spending to accelerate into 2H16, which may portend well for UMS.
-Trading at 9.9x forward P.E, 8.6% indicative yield. Sits on Market Insight Yield portfolio
- Latest broker ratings:
CIMB downgrades to Hold from Add with TP of $0.63
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