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MediaTek Inc 2454

Morningstar Rating
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Stock XTAI Rating as of
TWD 1,425.00 +25.00 (1.79%)
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As of Delayed Price Open
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Company Report

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MediaTek Leverages AI to Amplify Upside From Smartphone Recovery and New Device Prospects

Phelix Lee

Having fortified its market share in midrange smartphones, MediaTek is vying for presence in premium models. The company is upping its game at premium chips, planning to release its third iteration in late 2023 with the latest technology, breaking away from its tendency to be a second adopter. We expect MediaTek to maintain its higher market share in mobile SoCs, which have improved relative to Qualcomm in the past two years. That said, there is no room to be complacent as Samsung and Apple taking market share will be bad news for MediaTek, as both design SoCs in-house. The recent 5G Open Resource Architecture can further MediaTek’s efforts to lock in customers as it offers unparalleled customization options on the chip level for carefully segmented performance for different prices and niche markets.

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Price vs Fair Value

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2454 is trading at a 500% premium.
Price
TWD 1,400.00
Fair Value
TWD 3,253.00
Uncertainty
High
1-Star Price
TWD 9,776.00
5-Star Price
TWD 359.00
Economic Moat
Wpyhk
Capital Allocation
Ytthkck

Bulls Say, Bears Say

Bulls

A smaller technological gap compared with Qualcomm enables MediaTek to capture market share in 5G smartphone SoCs.

Bears

Smartphone vendors who design their own SoCs will gain market share. With stable phone shipments, MediaTek’s addressable market will shrink.

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Trading Information

Previous Close Price
TWD 1,400.00
Day Range
TWD 1,405.00–1,435.00
52-Week Range
TWD 652.00–1,500.00
Bid/Ask
TWD 1,425.00 / TWD 1,430.00
Market Cap
TWD 2.27 Tril
Volume/Avg
1.8 Mil / 7.1 Mil

Key Statistics

Price/Earnings (Normalized)
24.22
Price/Sales
4.73
Dividend Yield (Trailing)
1.76%
Dividend Yield (Forward)
1.76%
Total Yield
1.76%

Company Profile

Founded in 1997, MediaTek is a fabless semiconductor designer focusing on solutions for smartphones, digital televisions, and connectivity products. The business is divided into three segments. The first is "mobile," which accounts for around half of sales, where MediaTek is the second-largest third-party supplier of smartphone SoCs to the likes of Xiaomi and Vivo. The second is "smart edge," which accounts for just over 40% of sales, that covers most devices other than smartphones. The third is "power IC" that includes power management products for mobile devices, data centers, connectivity devices and more. Mediatek is headquartered in Hsinchu, Taiwan and employs almost 22,000 people.
Sector
Technology
Industry
Semiconductors
Stock Style Box
Large Core
Total Number of Employees
6,999
Website
https://www.mediatek.com

Competitors

Valuation

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Metric
2454
QCOM
SWKS
Price/Earnings (Normalized)
 24.2221.7714.31
Price/Book Value
 6.049.102.69
Price/Sales
 4.736.173.78
Price/Cash Flow
 20.3921.9211.23
Price/Earnings
2454
QCOM
SWKS

Financial Strength

Metric
2454
QCOM
SWKS
Quick Ratio
 0.891.853.02
Current Ratio
 1.152.655.19
Interest Coverage
 226.7612.6920.98
Quick Ratio
2454
QCOM
SWKS

Profitability

Metric
2454
QCOM
SWKS
Return on Assets (Normalized)
 14.63%14.08%14.16%
Return on Equity (Normalized)
 25.37%32.62%19.76%
Return on Invested Capital (Normalized)
 21.76%19.56%16.25%
Return on Assets
2454
QCOM
SWKS
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