On Thursday at 10:48 AM (Bangkok time), the share price of Hana Microelectronics Public Company Limited (SET: HANA) slumped by 8.57% or THB 3.00 to THB 32.00, with a trading value of THB 758.73 million.
UOB KayHian Securities (Thailand) highlighted that HANA posted a net profit of THB 406 million in the third quarter of 2024, marking a 45% year-on-year decrease but an 8% quarter-on-quarter increase. The result fell short of both analyst and market expectations by 17% and 37%, respectively, primarily due to lower-than-expected gross profit margin (GPM) and revenue, along with a higher SG&A to sales ratio. The GPM slid both year-on-year and quarter-on-quarter to 6.2% owing to the appreciation of the Thai baht, reduced sales, and increased operating expenses.
The analyst maintains the forecast unchanged pending further data from the analyst’s meeting, while upholding a ‘BUY’ recommendation for HANA with a target price of THB 48.00 per share.
