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MediaTek has raised its earnings per share (EPS) target for the fourth quarter of 2017 to between NT$5.66 (US$0.19) and NT$7.01, as a result of the recently-announced indirect sale of part of its stake in China-based Goodix.
MediaTek estimated previously EPS would reach US$2.18-2.67 in the fourth quarter, down from US$3.26 in the prior quarter, with revenues expected to decrease by up to 7% or increase by up to 1% sequentially to US$59.2-64.3 billion. Gross margin for the fourth quarter is estimated at between 34.5% and 37.5%.
MediaTek has reiterated its revenue and gross margin estimates for the fourth quarter, but revised upward its EPS forecast for the quarter thanks to an estimated NT$7.65 billion generated from the partial sale of its Goodix stake.
MediaTek disclosed recently that through subsidiary Gold Rich International (HK), the Taiwan-based company will sell 22,712,917 Goodix shares for CNY93.69 (US$14.21) each, or a total of CNY2.13 billion, and transfer the shares to China’s National Integrated Circuit Industry Investment Fund.
Based on MediaTek’s revised EPS estimate for the fourth quarter, the company’s EPS for all of 2017 is forecast to reach NT$14.72-16.07 compared with the NT$15.16 posted for 2016.
MediaTek reported net profits of NT$13.91 billion on revenues of NT$177.81 billion for the first three quarters of 2017. EPS for the nine-month period came to NT$9.06.
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