UMS: Applied Materials (AMAT US), which owns a 5.25% stake and contributes ~ 60-80% of sales to UMS, has signed a research collaboration agreement with Spore’s Institute of Microelectronics (IME) with the aim of driving innovation in advanced packaging, a key growth mkt for the semicon industry. AMAT will share the cost of the R&D center with EDB and A*Star...
The centre will allow AMAT to strengthen its capabilities in Asia, where 75% of its customers are based.
UMS trades at 7.2x trailing P/E, slightly below to other precision module mnftrs, like Frenchken 7.4x, and HISAKA 8.9x.
CIMB and Sias Buy ratings on the stock, with TP at $0.91, $1.05 rptively.
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